Core drill hole NRC-21-12, targeted the Candy vein structure approximately 60 metres ('m') down dip below NRC-21-11, and 60 m south of and at the same elevation as NRC-21-09.
The high-grade mineralized bands in core drill holes NRC-21-09 (previously reported on
Canasil President and CEO,
The six 2020 core drill holes, NRC-20-01 to NRC-20-06, and the four 2021 core drill holes to date, NRC-21-09 to NRC-21-12, have all cut the Candy vein structure returning gold and silver mineralization over a strike distance of 500 m of the potential 3-kilometre strike, and to a depth of 200 m. The 2021 core drill holes have confirmed very high gold and silver values within the central 125-metre mineralized panel, extending it to a depth of 200 m below surface. There has been no historical drilling at the Nora project and the 2020 and 2021 drill programs are the first ever drill programs within the project area. The consistently high gold and silver grades within wide mineralized structures, together with the relatively low base metal values, confirm the upper levels of a strong gold-silver mineralized system which is open for significant expansion along strike and to depth.
The 2021 drill program to date included four core drill holes completed in
The drill program was implemented by the Company's exploration team in
About
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 flow-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 distance 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.
Historical systematic grid soil sampling over an area of 3 km by 2 km covering the Candy and Nora veins and projected extensions, showed elevated 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 systems. Other major deposits in the region include
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,
Contact:
Tel: (604) 709-0109
Web: www.canasil.com
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 looking statement will come to pass and investors should not place undue reliance upon forward-looking statements.
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