Canasil Resources Inc.
TSX VENTURE : CLZ

Canasil Resources Inc.

June 12, 2008 09:15 ET

Canasil Adds 3 New Projects to Mexican Project Portfolio

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 12, 2008) - Canasil Resources Inc. (Canasil) (TSX VENTURE:CLZ) announces the addition of three new projects, acquired by direct staking of claims, to the Company's project portfolio in Durango and Sinaloa States, Mexico. These projects add three 100% owned prospective silver-gold-copper-lead-zinc targets to the Company's strong project portfolio in Mexico. Two of the new projects, Vizcaino and Carina, are centrally located in the Durango-Zacatecas mineral trend, which hosts a large number of current and historic silver mines as well as some important recent discoveries. A summary of these projects is listed below, and their locations indicated on the attached map, available at http://media3.marketwire.com/docs/clz612map2.pdf.

1. El Eden Project, Sinaloa, Mexico:

The El Eden Project covers 4,000 hectares, located 78 kilometres northeast of the city of Mazatlan in Sinaloa State, Mexico, with excellent road access and infrastructure. The project encompasses a tourmaline alteration zone hosted by an intrusive body. Five channel samples collected from trenches in this intensely altered structural zone returned significant copper and silver grades, and one sample from mineral dump material retured 2.95% copper and 2,140 g/t silver, as follows:



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El Eden Project Evaluation Samples
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Grades
Sample Width -----------------------------------------------
Zone No. Metres Gold g/t Silver g/t Copper % Lead % Zinc %
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Breccia 2528 2.60 0.139 24.7 0.81 0.89 0.69
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Breccia 2529 4.50 0.072 18.6 0.26 0.46 0.29
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Breccia 2530 2.00 0.104 41.8 1.03 0.39 0.88
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Breccia 2531 Dump 0.291 2,140.00 2.95 0.41 0.52
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Breccia 2532 3.00 0.222 14.8 1.10 0.64 0.78
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Breccia 2533 2.60 0.176 32.4 0.02 0.02 0.01
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In April 2008, Dr. Andrejs Panteleyev conducted a field inspection and review of the El Eden project area, and identified the possibility of a larger altered zone surrounding the central area with the more intense fracturing and brecciation. A grab sample taken from this area, located 190 metres east of the higher grade trench returned 1.27 g/t gold, 0.38% copper and 45.6 g/t silver. The altered rocks in this area have some weak sericite/clay alteration of feldspars with tourmaline fracture fillings. The alteration zone is expressed topographically as a series of east-west trending low lying knolls surrounded by more resistant, unaltered grandiorite. The wider alteration zone may be developed over an area of 500 metres by 200 metres, indicating the potential for identifying a significantly larger mineralized system in the project area. It is recommended to complete a systematic program of rock and soil geochemical sampling to identify the potential of this area.

2. Vizcaino Project, Durango, Mexico:

The Vizcaino project covers 600 hectares, located 127 kilometers north of the city of Durango, in Durango State. The project area is 38 kilometers southeast of Silver Standard Resources La Pitarilla deposit and 42 kilometers north of Geologix Explorations San Augustin deposit, both major recent discoveries.

The Vizcaino project hosts a very prominent quartz vein, which can be traced on the surface for over 2 kilometres with widths of over 1 metre and up to 12 metres. The exposed vein is composed of fine grained chalcedonic quartz with a classic banded structure indicative of the upper levels of a strong epithermal vein system. Initial evaluation samples from the vein returned anomalous gold values ranging from 108 ppb to 180 ppb over widths of 1.1 metres to 4.8 metres, characteristic of the upper levels of mineralized epithermal veins. Further geological mapping and sampling is required to define drill targets on the Vizcaino project.

3. Carina Project, Durango, Mexico:

The Carina project covers 3,100 hectares, located 45 kilometers northeast of the City of Durango, in Durango State. The project lies 6.5 kilometres southwest of the La Preciosa project of Orko Silver, another major recent discovery, and is adjacent to the northwest corner of Canasil's large Victoria project area. The area has excellent road access and infrastructure.

A number of quartz veins, breccias and stockwork zones are observed in the project area, hosted by rhyolites, andesites and sediments. The main vein system strikes NW-SE and is composed of a series of parallel quartz and fluorite veins with bladed textures and widths of 1.5 metres to 2.5 metres. A broad area of quartz stockwork and breccia structures hosted by tuffaceous rhyolites is observed over an area of 100 metres by 300 metres. The structures indicate the possibility of a low to intermediate sulphidation epithermal system in the project area similar to the environment seen at La Preciosa.

The evaluation samples were collected under the supervision of Erme Enriquez, Director of Exploration and Development, or Dr. Andrejs Panteleyev, Ph.D., P.Eng. The samples were assayed by ALS Chemex Labs. In Vancouver, B.C., Canada. Gary Nordin, P. Geo. British Columbia and Director of Canasil, is the designated Qualified Person for these projects in accordance with National Instrument 43-101.

About Canasil:

Canasil is a Canadian mineral exploration company with interests in precious and base metal projects in Durango, Sinaloa and Zacatecas States, Mexico, and in British Columbia, Canada. The Company's directors and management include industry professionals with a track record of identifying and advancing successful mineral exploration projects. The Company is engaged in the exploration of its mineral properties and evaluating additional acquisition opportunities.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contact Information

  • Canasil Resources Inc.
    Bahman Yamini
    President and C.E.O.
    (604) 709-0109
    Email: info@canasil.com
    or
    Canasil Resources Inc.
    Doug Kerr
    Corporate Communications - Vancouver
    (604) 315-4400
    Email: dkerr@shaw.ca
    or
    Canasil Resources Inc.
    Garth McTavish
    Corporate Communications - Calgary
    (403) 618-7327
    Email: garthmctavish@shaw.ca
    Website: www.canasil.com
    or
    Pro-Edge Consultants Inc.
    Tracy Weslosky
    (416) 581-0177 or Toll Free: 1-866-544-9622
    Email: tracy@pro-edge.com
    or
    Pro-Edge Consultants Inc.
    Fred Cowans
    (416) 581-0177 or Toll Free: 1-866-544-9622
    Email: fred@pro-edge.com