The six drill holes completed to date along 500 metres of the 3-kilometre traced strike of the Candy vein structure have consistently intersected significant gold-silver mineralization.
Core drill hole NRC-20-06, located 100 metres north of NRC-20-04 (announced
2.65 m (TW 2.40 m) averaging 4.78 g/t gold and 351 g/t silver for 698 g/t AgEq, up-hole from the above intercept, referred to as the Candy hanging wall structure, including; 1.15 m (1.04 m TW) with 7.90 g/t gold and 528 g/t silver for 1,101 g/t AgEq, and 0.50 m (TW 0.45 m) with 15.6 g/t gold and 561 g/t silver for 1,692 g/t AgEq.
0.29 m (TW 0.26 m) carrying 26.1 g/t gold and 284 g/t silver for 2,176 g/t AgEq, in a lower intercept, referred to as the Candy foot wall structure.
Canasil President and CEO,
Drill hole NRC-20-05, located 200 metres north of NRC-20-06, returned an intercept of 0.73 m (TW 0.72 m) carrying 1.46 g/t gold, 7.49 g/t silver and 1.93% zinc for 167 g/t AgEq. Two additional drill holes have been completed to test the Nora vein, located 600 m NE of the Candy vein. These holes complete the planned initial drill program at the Nora project with a total of 1,744 metres in eight drill holes. The results from drill holes NRC-20-01 to NRC-20-04 (reported
The drill program is 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.
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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