Core drill hole NRC-21-13 targeted the Candy vein structure approximately 60 metres ('m') down dip below NRC-21-09, and drill holes NRC-21-14 and NRC-21-15 tested a new step out section 60 m north along strike from drill holes NRC-21-06 and NRC-21-09. All three drill holes intersected wide altered zones hosting the main Candy vein structure and a separate footwall vein all returning gold and silver values consistent with previous drill holes.
The intercepts in core drill hole NRC-21-13 confirm the continuity of the high gold and silver grades to depth in the Candy vein structure, and NRC-21-14 and NRC-21-15 confirm the strike extension of the vein structure to the north. The Candy vein structure remains open in both directions along strike and to depth for continued drill testing, and the low base metal values in these drill intercepts suggest drilling to date is still in the higher levels of the system.
Canasil President and CEO,
To date, the Candy vein structure has been tested with six core drill holes in 2020, NRC-20-01 to NRC-20-06, and seven drill holes in 2021, NRC-21-09 to NRC-21-15, which have all cut the 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 250 m below surface. These core drill holes have confirmed very high gold and silver values within the central 175-metre mineralized panel, extending to a depth of 250 m. 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, 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 November-
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 and 2021 drill programs are the first drill programs at the Nora project and have consistently 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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