VANCOUVER, Jan. 18, 2017 /CNW/ – Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil”) announces that the Company has completed the first hole, ES-16-12, of the 2016-17 core drilling program at the La Esperanza silver-lead-zinc project in Durango and Zacatecas States, Mexico. The hole was drilled to a downhole depth of 394.5 metres. This hole intersected an extended interval from 345 metres to 391 metres down hole, carrying banded quartz veins, veinlets and breccias hosted within fractured and brecciated volcanic rocks. Base metal sulphides including sphalerite, galena, and chalcopyrite have been noted. The core is being logged and prepared for assaying to determine base metal and possible silver content.
A second drill hole, ES-17-13, is now in progress. It is a step-out, collared 90 metres northwest of ES-16-12 along strike, and targeted to intersect the vein structure at a similar depth. The initial 2016-17 drill program is planned for 1,500 to 2,000 metres of core drilling in 4 or 5 drill holes.