Canasil to Resume Drilling at La Esperanza Silver-Gold-Zinc-Lead Project
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
May 10, 2018 www.canasil.com
Canasil to Resume Drilling at La Esperanza Silver-Gold-Zinc-Lead Project
Vancouver, May 10, 2018 - Canasil Resources Inc. ( TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil”) announces
that the Company has completed preparations to resume drilling at the La Esperanza silver-gold-zinc-lead
project in Durango and Zacatecas States, Mexico. The drill program is planned to follow up on the positive
drill results from the 2016-17 drill program on the La Esperanza vein, located in the southeast of the project
area. The access road to the drill area has been graded and the drill sites have been prepared in advance of
the drill mobilizing to site. All required permits are in place and the start of the drill program will be
announced when drilling is underway.
The initial drill holes are designed to test 50 metres below and 25 metres to the southeast along strike from
the high grade intercept in drill hole ES-17-16 on the southeastern side, and 50 metres below and 25
metres to the northwest along strike from drill hole ES-17-19 on the northwestern side of the main La
Esperanza vein. Details of the intercepts drilled in these holes are included in the table below for reference .
ES-17-16 intercepted the La Esperanza vein on the southeast extension of the vein at a vertical depth of 200
metres below surface with an interval of 4.92 metres true width returning 257 g/t silver, 0.64% zinc and
0.63% lead, including a high grade zone of 0.95 metres true width returning 1,133 g/t silver, 1.56% zinc
and 2.98% lead as detailed below. ES-17-19 intercepted the La Esperanza vein on the northwest extension
of the vein at a depth of 325 metres below surface, including a hanging wall vein, the main vein and a
footwall vein over an interval of 11.23 metres true width carrying 219 g/t silver, 0.74 g/t gold, 0.90% zinc
and 0.63% lead, including a high grade zone of 1.11 metres true width returning 6.39 g/t gold, 1,281 g/t
silver, 2.23% zinc and 1.25% lead. Of particular interest are the high grade silver and gold intervals in these
holes, and the footwall vein intercepted approximately 6 metres below the main vein in drill hole ES-17-19.
La Esperanza 2016 - 17 Drill Program**
Hole ES-17-16
Interval - Metres Width – Metres Gold Silver Zinc Lead Copper Silver Eq*
From To Interval True Au g/t Ag g/t Zn % Pb % Cu % Ag Eq g/t
139.41 145.35 5.94 4.92 0.01 257 0.64 0.63 0.03 321
Including 143.00 145.35 2.35 1.95 0.03 628 0.90 1.52 0.08 750
Including 144.20 145.35 1.15 0.95 0.06 1,133 1.56 2.98 0.16 1,362
Hole ES-17-19
296.44 309.41 12.97 11.23 0.74 219 0.90 0.43 0.05 382
HW Vein 296.44 298.83 2.39 2.07 0.04 261 2.09 0.92 0.15 406
Main Vn 298.83 302.01 3.18 2.75 2.76 552 1.16 0.63 0.08 850
Including 300.73 302.01 1.28 1.11 6.39 1,281 2.23 1.25 0.18 1,938
FW Vein 306.88 308.62 1.74 1.51 0.39 256 1.68 0.74 0.02 406
*Silver equivalents calculated assuming 100% recoveries (for Ag Eq calculation only – may not reflect actual recoveries)
and Ag US$17/oz, Au US$1,250/oz,Cu US$2.50/lb, Zn US$1.30/lb, and Pb US$1.00/lb
** Results previously reported in Canasil news releases dated April 3, and May 2, 2017
Canasil Resources Inc.
News Release, May 10, 2018 page 2/3
The 2016-17 drill program referenced above was implemented by the Company’s exploration team under
the direction of Eng. Erme Enriquez (CPG), Director of Exploration and Development of Minera Canasil S.A.
de C.V., the Company’s wholly owned Mexican subsidiary. All samples were prepared and logged at the
Company’s core storage facility in Durango, Mexico. Drill core samples are sawn with half being sent for
assay and half secured for reference. Samples are sent to the ALS Laboratories in Zacatecas, Mexico for
preparation and then on to ALS Global in Vancouver for gold and silver analyses by fire assay with an atomic
absorption finish (“FA-AA”) on a 30 gram split, and for silver, copper, lead, zinc and trace elements by ICP
analysis following digestion of 0.50 gram sample in aqua regia.
The technical information herein has been reviewed and approved by J. Blackwell (P. Geo.), a Qualified
Person as defined by National Instrument 43-101. Mr. Blackwell is a technical advisor to Canasil.
About La Esperanza
The La Esperanza silver-lead-zinc project covers 14,916 hectares, located 100 km SSE of the city of Durango
in southern Durango and northern Zacatecas States. The project is easily accessible from Canasil’s operating
base in Durango with excellent infrastructure. The project is located on the well-recognized world class
Fresnillo silver belt, hosting a number of prominent silver mines such as the San Martin-Sabinas mines of
Grupo Mexico and Peñoles, the La Colorada mine of Pan American Silver and La Parrilla and Del Toro mines
of First Majestic Silver and Fresnillo PLC’s Fresnillo mine.
A series of silver-zinc-lead epithermal veins are observed over a northwest-southeast striking zone
extending over approximately 15 kilometres hosted in the Lower Volcanic Group. Mineralization occurs in
low to intermediate sulphidation veins, primarily striking northwest and dipping southwest. The main La
Esperanza vein, located in the southeast of the project area, is a banded and cockade white to grey quartz
breccia epithermal vein with silver, lead and zinc mineralization associated with argentiferous galena, silver
sulfosalt minerals and sphalerite. Drilling to date on this vein has outlined a mineralized envelope over a
strike distance of 400 metres and to a depth of 350 metres that is open in both directions to the northwest
and southeast along strike and to depth defined by mineralized intercepts over appreciable widths and high
silver-gold-zinc-lead grades. Alteration of the volcanic host rocks extending along strike from the La
Esperanza vein outcrop, the spatial association with a discrete broad magnetic anomaly (possibly an
igneous intrusion at depth), as well as local drainage patterns has outlined a target extending for over 5
kilometres in this area. Further details are listed under the La Esperanza project profile on the Company’s
website www.canasil.com, and have been previously reported in the company’s news releases.
About Canasil:
Canasil is a Canadian mineral exploration 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 & CEO
Canasil Resources Inc.
Tel: 604-709 0109
Canasil Resources Inc.
News Release, May 10, 2018 page 3/3
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 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-looking statement will come to pass and investors should not
place undue reliance upon forward-looking statements.