Canasil drills 3.18 metres of 850 g/t Silver Equivalent (AgEq) at La Esperanza

Canasil Resources Inc. [CLZ-TSXV; 3CC-FSE] reported assay results for drill holes ES-17-18 and ES-17-19 of the 2016-17 core drilling program at the 100%-owned La Esperanza silver-zinc-lead project in Durango and Zacatecas States, Mexico, on the world class Fresnillo Silver Trend. Both drill holes intersected wide mineralized intervals with multiple silver-zinc-lead intercepts, with appreciable gold values in ES-17-19, reporting high-grade intervals from the La Esperanza vein.

These holes now complete the current drill program, which was expanded to eight drill holes for a total of 2,452 metres (m). All drill holes successfully intersected the La Esperanza vein indicating a strong mineralized system which remains open in both directions to the southeast and northwest along strike and to depth. Of particular note are the high gold grades observed for the first time together with high silver grades in drill hole ES-17-19.

ES-17-18 intersected multiple mineralized bands over an interval of 7.82 m (true width (TW) 6.77 m) returning an average of 141 g/t silver equivalent (g/t AgEq). This interval included higher-grade intervals of 2.16 m (TW 1.87 m) of 357 g/t AgEq, which included 0.67 m (TW 0.58 m) of 479 g/t AgEq – detailed assays are listed on the company website. ES-17-18 is a 50-metre step-out to the northwest and at the same vertical depth of drill hole ES-12-03 and appears to be located in the higher levels of the vein system.

Drill hole ES-17-19 intercepted three vein intervals through an overall mineralized structure extending over 12.97 m (TW 11.23 m) from 296.44 to 308.62 metres. These included a hanging wall (HW) vein intercept, the Main vein and a footwall (FW) vein with details listed in the table below. The overall intercept returned 12.97 m (11.23 m TW) of 382 g/t AgEq, with the HW vein returning 2.39 m (TW 2.07 m) of 406 g/t AgEq. The central Main vein returned 3.18 m (TW 2.75 m) of 850 g/t AgEq, including 1.28 m (TW 1.11 m) of 1,938 g/t AgEq. The FW vein returned 1.74 m (TW 1.51 m) of 406 g/t AgEq. ES-17-19 intercepted the La Esperanza vein 50 m below ES-12-03 and ES-17-18, approximately 300 m below surface. The intercept appears to be still relatively high in the vein system and the high silver grades, and in particular the high gold grades, are encouraging and support further drilling along strike and to depth in the northwestern zone of the La Esperanza vein.

The La Esperanza silver-lead-zinc project covers 14,916 hectares and is located 100 km SSE of the city of Durango. The project is easily accessible from Canasil’s operating base in Durango with excellent infrastructure.

Canasil also has four exploration projects in British Columbia.