NEWS!Canasil Resources: Surface Channel Samples Return 12% Zinc, 239 g/t Silver and 6.98% Lead Over 0.9 Metres, Within a Broad Zinc-Lead Silver Mineralized Structure at the Colibri Project
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 12, 2006) - Canasil Resources Inc. (Canasil) (TSX VENTURE:CLZ) announces that initial results from the surface sampling program at the Colibri project in Durango State, Mexico, have outlined a wide mineralized zone with consistent zinc, lead and silver values within the Los Angeles structure, located in the northern sector of the project area. The sample results received to date confirm a broad structure with a strike length of approximately 150 metres and width of up to 30 metres. This structure has been traced and sampled over a further 250 metres along strike and appears to continue for a further 500 metres.
Channel samples with widths of 1.5 - 3.0 metres from this mineralized structure consistently returned grades in the range of 1.0% - 6% zinc, 0.5% - 3% lead, and 15 - 60 g/t silver, with significantly higher silver, zinc, lead and copper grades from specific samples. The widest section line across this zone, defined by 12 samples (1289 - 1300), had a width of 29.6 metres with an average grade of 2.22% zinc, 20.44 g/t silver and 0.85% lead, including a higher grade zone (samples 1294 - 1300) of 16.4 metres with 3.1% zinc, 29.64 g/t silver and 1.21% lead. Several zones within this structure returned high silver, zinc, copper and lead grades, e.g. sample 1257 with 12% zinc, 239 g/t silver and 6.98% lead over 0.9 metres, and sample 1310 with 343 g/t silver and 3.73% copper over 1.3 metres. A previously reported (February 09, 2006) sample 1751 from this structure returned 23.07% zinc, 246 g/t silver and 10.05% lead over 0.77 metres. Details of samples and assay results are listed in the table below and shown on the attached map.
---------------------------------------------------------------------
UTM
Chan- Sample No. Coordinates Cop-
nel --------- -------------- Width Gold Silver per Lead Zinc
No. From To East North (m) g/t g/t % % %
---------------------------------------------------------------------
1 1313 1316 552062 2593823 5.40 0.010 4.82 0.09 0.10 0.67
---------------------------------------------------------------
Incl. 1316 1.60 0.011 7.20 0.24 0.18 1.49
---------------------------------------------------------------------
2 1309 1312 551996 2593759 5.60 0.020 96.81 1.00 0.31 0.47
---------------------------------------------------------------
Incl. 1310 1.30 0.059 343.00 3.73 0.80 0.15
---------------------------------------------------------------------
3 1301 1308 551999 2593753 11.40 0.010 2.61 0.07 0.10 0.61
---------------------------------------------------------------
Incl. 1304 1.30 0.009 2.80 0.12 0.13 1.67
---------------------------------------------------------------------
4 1256 1256 551950 2593755 8.60 0.005 5.00 0.04 0.16 0.72
---------------------------------------------------------------------
5 1257 1259 551919 2593758 6.70 0.010 61.10 0.05 1.79 2.99
---------------------------------------------------------------
Incl. 1257 0.90 0.016 239.00 0.17 6.98 12.00
---------------------------------------------------------------------
6 1289 1300 551914 2593747 29.60 0.010 20.44 0.05 0.85 2.22
---------------------------------------------------------------
Incl. 1294 1300 16.40 0.010 29.64 0.06 1.21 3.10
---------------------------------------------------------------
And 1294 1296 7.60 0.010 42.96 0.07 1.89 4.47
---------------------------------------------------------------
And 1300 1.20 0.000 32.10 0.09 1.74 6.27
---------------------------------------------------------------------
7 1281 1288 551893 2593734 13.50 0.010 14.33 0.15 0.69 2.18
---------------------------------------------------------------
Incl. 1284 1287 6.00 0.010 28.55 0.10 1.35 3.97
---------------------------------------------------------------------
8 1267 1268 551872 2593737 13.20 0.010 18.35 0.10 0.62 0.85
---------------------------------------------------------------------
9 1269 1271 551869 2593710 36.40 0.020 21.84 0.10 0.25 0.52
---------------------------------------------------------------------
Previously reported sample February 09, 2006
---------------------------------------------------------------------
1751 551916 2593765 0.77 0.017 246.00 0.292 10.05 23.07
---------------------------------------------------------------------
The mineralized structure observed is a broad oxidized shear related zinc-lead silver zone over a distance of 400 metres along strike and up to 30 to 50 metres in width, outlined within andesitic volcanics along the contact of an agglomerated unit. The general strike is N47 degrees E, dipping 50 degrees NW, and the structure is made up of silicified sheared andesitic rock, intercalated with narrow quartz-barite veinlets containing high silver and base metal grades. An additional 150 channel samples of mineralized material have been taken along the strike length over a further 250 metres with mineralized widths of 30 - 50 metres.
Gary Nordin, Director of Canasil, commented: "We are very encouraged about the discovery of a large shear related low grade zinc-lead-silver zoned mineralized structure, with high grade silver, zinc, lead and copper zones, at the Colibri project. The structure observed has potential for both shear and manto mineralization along a strike distance of more than 400 metres."
The Los Angeles structure is located in the northern sector of the Colibri project. The Company is continuing to actively investigate this structure and the assay results from additional samples will be reported when received. Several additional mineralized structures in the central and southern sectors of the extensive Colibri project area are still to be investigated.
The sampling program was supervised and carried out by the Company's wholly owned Mexican subsidiary, Minera Canasil S.A. de C.V. Samples were prepared on site and shipped to the ALS Chemex laboratories in Hermosillo, Mexico, for preparation and on to the ALS Chemex laboaratories in Vancouver for analysis by ICP for multiple elements and fire assay for gold and silver. Gary Nordin, P.Geo. British Columbia and Director of Canasil, is the qualified person for this project in accordance with National Instrument 43-101.
The 100% owned Colibri project covers an area of 6,413 hectares, located 70 km south-southeast of the City of Durango. The project area has excellent road access and good local infrastructure for supporting exploration and mining operations, and is located within 75 km of the San Martin mine of Grupo Mexico, the La Colorada mine of Pan American Silver Corp., and the La Parrilla mine of First Majestic Resource Corp.
About Canasil:
Canasil is a Canadian mining and mineral exploration company with interests in base and precious metal properties in British Columbia, Canada, and in Durango, Sinaloa and Zacatecas States, Mexico. The Company's directors and management include industry professionals with a consistent track record of identifying and advancing successful mineral exploration projects. The Company is actively engaged in the exploration of its mineral properties and in evaluating additional acquisition opportunities.
Colibri Project, Durango, Mexico - Los Angeles Structure, initial sampling map:
To view map please click on the following link: https://www.ccnmatthews.com/docs/CLZ0412.jpg
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.