Canasil Reports Positive Progress On 2021 Drill Program at the Nora Silver-Gold-Copper-Zinc-Lead Project in Durango State, Mexico
Suite 1760 – 750 West Pender Street
Vancouver, BC
Canada V6C 2T8
Tel: 604-708 3788
Fax: 604-708 3728
Email: [email protected]
_
NEWS RELEASE TSX-V: CLZ
July 29, 2021 www.canasil.com
Canasil Reports Positive Progress On 2021 Drill Program
at the Nora Silver-Gold-Copper-Zinc-Lead Project in Durango State, Mexico
Vancouver, July 29, 20 21 - Canasil Resources In c. (TSX-V: CLZ , DB Frankfurt: 3CC, “Canasil” or the
“Company”) reports completion of three drill holes, NRC -21-09, NRC-21-10, and NRC -21-11, with a fourth
drill hole, NRC -21-12, in progress and nearing completion at the Nora silver-gold project in north-central
Durango State, Mexico . The targets of these four drill holes are below and between high-grade gold and
silver intercepts from the 2020 drill holes NRC-20-04 and NRC -20-06 on the Candy vein structure , as
previously reported in the news release dated July 06, 2021, announcing the start of the drill program. A
total of 790 metres of core drilling has been completed since the start of the program in early July 2021.
All three holes completed to date have cut th e Candy vein structure as projected . A total of 110 core
samples from intercepts in the first two drill holes, NRC-21-09 and NRC-21-10, are currently being processed
at ALS Chemex Labs in Zacatecas and North Vancouver ; core samples from the third drill hol e, NRC-21-11,
are being prepared for assay. The fourth hole NRC-21-12 is expected to be completed shortly.
Canasil President and CEO, Bahman Yamini commented; ” The positive progress with the 2021 drill program
at the Nora project and quick completion of successive drill holes is encouraging and a credit to the drill
contractors and our operating team. The Candy vein structure is being intersected as projected in every drill
hole and we look forward to the results from these drill holes.”
The 2020 and 2021 drilling to date has intersected the Candy vein over a strike distance of 5 00 metres and
to a depth of 200 metres. The four 2021 drill holes to date are targeted to test below and between the 2020
drill intercepts as shown on the Candy vein long section below.
About Nora Silver-Gold-Copper-Zinc-Lead Project, Durango State, Mexico:
The Nora project is located approximately 200 km north -west of the City of Durango, with good access and
infrastructure. The geological setting is a Tertiary -aged volcanic fl ow-dome complex. Gold -silver
mineralization is hosted within two structurally-controlled epithermal veins, Candy and Nora. Mineralization
is typical of that found at many mines in the region, with gold and silver associated with galena, sulfosalt
minerals and lesser pyrite, sphalerite and chalcopyrite. There is evidence of some historical mining activity
on the Candy vein, which is exposed in discontinuous outcrops for over 900 metres . The fault structure
hosting the Candy vein has been traced for a distanc e of over 3 km. Samples of vein outcrop and mineral
dumps from the Candy vein returned significant gold, silver, copper, zinc and lead values. The second vein,
Nora, is found 600 metres northeast of the Candy vein and can be traced for 230 metres with widths of over
9.0 metres. Surface samples from this vein returned anomalous silver values associated with trace
sulphides, with a geochemical signature typical of the higher levels of epithermal vein systems in the region.
The 2020 drill program was the first drilling at the Nora project and returned encouraging intercepts with
high gold, silver and copper values from the Candy vein.
Systematic grid soil sampling over an area of 3 km by 2 km covering the Candy and Nora veins and projected
extensions, showed e levated silver, base metal (copper, lead and zinc) and pathfinder (antimony and
arsenic) values. The combination of the vein outcrops with large areas of anomalous silver and base metal
values in soil samples may indicate additional concealed mineral syste ms. Other major deposits in the
region include SSR Mining’s La Pitarrilla deposit located 50 km east of the Nora project.
Canasil Resources Inc.
News Release, July 29, 2021 page 2/3
The technical information herein has been reviewed and approved by Robert Brown (P. Eng.), a Qualified
Person as defined by National Instrument 43-101. Mr. Brown is a technical advisor to Canasil.
About Canasil:
Canasil is a Canadian mineral explor ation company with a strong portfolio of 100% owned silver -gold-
copper-lead-zinc projects in Durango and Zacatecas States, Mexico, and in British Columbia, Canada. The
Company’s directors and management include industry professionals with a track record of identifying and
advancing successful mineral exploration projects through to discovery and further development. The
Company is actively engaged in the exploration of its mineral properties, and maintains an operating
subsidiary in Durango, Mexico, with full time geological and support staff for its operations in Mexico.
For further information please contact:
Bahman Yamini
President and C.E.O.
Canasil Resources Inc.
Tel: (604) 709-0109
www.canasil.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release includes certain statements that may be deemed to be “forward -looking statements”. All statements
in this release, other than statements of historical facts are forward looking statements, including statements that
address future mineral production, reserve potential, exploration drilling , exploitation activities and events or
developments. These statements involve known and unknown risks, uncertainties and other factors that may cause
actual results or events to differ materially from those anticipated in such forward -looking statements. Although the
Company believes the expectations expressed in such forward -looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results or developments may differ
materially from those in the forward -looking statements. Factors that could cause actual results to differ materially
from those in forward -looking statements include, but are not limited to, changes in commodities prices, exploration
successes, continued availability of capital and financing, and general economic, market or business conditions. The
reader is referred to the Company’s filings with the Canadian securities regulators for disclosure regarding these and
other risk factors. There is no certainty that any forward lookin g statement will come to pass and investors should not
place undue reliance upon forward-looking statements.
Canasil Resources Inc.
News Release, July 29, 2021 page 2/3
Fig. 1: Canasil Nora Project, Candy Vein Long Section - 2020 and 2021 Drill Intercepts