Canasil Reports 3.73 Metres of 3.71 g/t Gold, 489 g/t Silver, and 0.53% Copper from the Candy Vein at the Nora Silver-Gold Project, Durango, Mexico

Candy Vein Area Geological Map Showing Drill Holes NRC-20-01 to NRC-20-06

Canasil Nora Silver-Gold Project, Durango. Mexico
Canasil Nora Silver-Gold Project, Durango. Mexico
Canasil Nora Silver-Gold Project, Durango. Mexico

VANCOUVER, British Columbia, Oct. 21, 2020 (GLOBE NEWSWIRE) — Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasilor the “Company”) announces initial results from two additional drill holes, NRC-20-03 and NRC-20-04, from the on-going, fully-funded core drill program on the Candy and Nora veins at the Nora silver-gold project in north-central Durango State, Mexico.

Nora Silver-Gold Project, Durango State, Mexico – Candy Vein Initial Drill Results NRC-20-03 & NRC-20-04

Vein/Structure

From

To

Width

TW

Gold

Silver

Copper

Lead

Zinc

Ag. Eq.*

 

Metres

Metres

Metres

Metres

g/t

g/t

%

%

%

g/t

NRC-20-04

CANDY VEIN

139.52

143.25

3.73

3.05

3.71

489

0.53

0.14

0.16

798

 

 

 

 

 

 

 

 

 

 

 

Including

139.52

140.00

0.48

0.39

4.29

690

0.69

0.43

0.48

1,053

And

140.00

140.50

0.50

0.41

6.27

1925

0.60

0.21

0.21

2,425

And

140.50

141.00

0.50

0.41

1.14

181

0.03

0.07

0.12

254

And

141.00

141.50

0.50

0.41

2.41

82.5

0.47

0.05

0.12

292

And

141.50

142.00

0.50

0.41

0.33

34.1

0.02

0.05

0.05

58

And

142.00

142.45

0.45

0.37

2.65

147

0.26

0.07

0.05

359

And

142.45

142.75

0.30

0.25

9.89

414

1.675

0.10

0.10

1,258

And

142.75

143.25

0.50

0.41

5.09

373

0.94

0.10

0.10

813

 

NRC-20-03

CANDY VEIN

171.82

172.18

0.36

0.36

8.69

116

0.199

0.39

0.46

761

*Silver Equivalent calculated based on metal prices below and assuming 100% recoveries for all metals

Au US$ 1,935/Oz, Ag US$ 28/Oz, Cu US$2.95/lb, Pb US$ 0.86/lb, Zn US$ 1.09/lb; Pb & Zn less than 1% not included

Additional samples from both drill holes have been submitted for assay and will be announced when results are received and interpreted. NRC-20-04 was collared on the same section and targeted to intersect the Candy vein at a lower elevation than NRC-20-01, and NRC-20-03 was collared on the same section and targeted to intersect the Candy vein at a lower elevation than NRC-20-02, as shown on the drill plan map below. Drill holes NRC-20-05 and NRC-20-06, collared 200 metres and 400 metres respectively north of the section hosting NRC-20-01 and NRC-20-04, have been completed and samples submitted for assay.

The current drill program at the Nora project is the first pass at systematic, property-wide exploration. All four initial drill holes have intersected the Candy vein at depth and returned high gold and silver grades, with a notably thicker and higher grade intercept in NRC-20-04. The Candy vein is open to expansion along strike to the north and south, and to depth, and these results confirm the potential for further exploration.

Canasil President and CEO, Bahman Yamini, commented: The strong high grade intercept from NRC-20-04 is very encouraging at this early stage of drill testing at the Nora project. This relatively wide intercept with high gold and silver grades confirms the potential of the project, and

Read more