Canasil Resources Inc.
TSX VENTURE : CLZ

Canasil Resources Inc.

September 11, 2007 20:38 ET

Canasil Drilling Intersects Long Intervals of Porphyry Style Mineralization at the Brenda Gold-Copper Project in British Columbia, Canada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 11, 2007) - Canasil Resources Inc. ("Canasil") (TSX VENTURE:CLZ) is pleased to announce that the 2007 diamond drill program at the Brenda project, in the Kemess-Toodoggone Mining district of north-central British Columbia, has been successfully completed with a total of 1,708 metres in five drill holes.

Two of the drill holes, BR-07-04 and BR-07-05, returned several long mineralized intercepts, which are characteristic of gold-copper mineralization observed in previous drilling. These intercepts contain strong quartz magnetite stockwork with minor chalcopyrite within potassic-chlorite-magnetite altered volcanics, cut by irregular zones of overprinted sericite-pyrite alteration. Drill hole BR-07-04, drilled to a depth of 562 metres, intersected 412 metres of quartz magnetite stockwork, cut by two barren quartz monzonite dykes over 55 metres. The stockwork zone appears to strengthen and is open at a depth of 562 metres. Drill hole BR-07-05, drilled to a depth of 530 metres, intersected 280 metres of quartz magnetite stockwork, cut by a number of barren quartz monzonite dykes with total intercept width of 120 metres.

Drill holes BR-07-04 and BR-07-05 were drilled to test the vertical extent of a mineralized porphyry system, identified by past drilling, at the White Pass Zone. These holes, drilled in the central part of a potassic alteration zone, extend beyond previous holes BR-03-07 and BR-97-01 and intersected strong quartz-magnetite stockwork at depth as noted above, indicating the potential for a vertically zoned gold porphyry system. This central potassic altered zone with quartz-magnetite stockwork is estimated to be 300 metres to 400 metres wide, and has been traced for 400 metres along strike. It is open to both the north and the south, where geological mapping has demonstrated the presence of strongly altered rocks with advanced argillic alteration over a strike distance of 2.4 kilometres.

Canasil is highly encouraged by the presence of strong quartz magnetite stockwork zones, associated with potassic-chlorite-magnetite alteration, intersected in drill holes BR-07-04 and BR-07-05 over intervals of 412 metres and 280 metres. These zones appear similar to the mineralized alteration documented in a number of large porphyry gold deposits. Assay results are expected over the next 6 to 8 weeks. Photographs of the drill core and project area are available on the Company's website at: http://canasil.com/properties/bc_properties/brenda/.

The diamond drill program was implemented under the direction of Gary Nordin, P. Geo. British Columbia and Director of Canasil. Drill core from the program was processed and is stored at the project site. Core samples from half of the drill core were cut by diamond saw in 2-metre intervals and sent to ALS Chemex Laboratories in North Vancouver, B.C., for preparation and assay analysis for gold and silver by fire assay with an atomic absorption finish ("FA-AA") on a 30 gram split, and for a 28 element package of major and trace elements by ICP Analysis. Gary Nordin, P. Geo. British Columbia, is the designated Qualified Person for this project in accordance with National Instrument 43-101.

About Canasil:

Canasil is a Canadian mineral exploration company with interests in precious and base 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 mineral properties and evaluating additional acquisition opportunities.

This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects to occur, are 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 may differ materially from those in the forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made.

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
    or
    Canasil Resources Inc.
    Vancouver: Doug Kerr
    Corporate Communications
    (604) 718-5454
    Email: dkerr@canasil.com
    or
    Canasil Resources Inc.
    Calgary: Garth McTavish
    Corporate Communications
    (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