Welcome!

News Feed Item

MAG Silver Reports Additional Silver-Copper and Pervasive Zinc Mineralization at Canasil's Salamandra Project in Durango State, Mexico

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/21/14 -- Canasil Resources Inc. (TSX VENTURE:CLZ) (FRANKFURT:3CC) ("Canasil" or the Company) announces that MAG Silver Corp. (TSX:MAG) (NYSE MKT:MVG) ("MAG") has released assay results from MAG's twelve hole, 6,500 metre Phase 2 drill program on Canasil's Salamandra Silver-Copper-Zinc-Lead Project in Durango State, Mexico. Drilling began in late February of 2014 and concluded in May 2014. The Phase 1 drill program results were released on March 17, 2014, and combined with the Phase 2 program MAG has now drilled 10,112 metres in 17 drill holes on the Salamandra project, complementing the initial 12 drill holes previously drilled by Canasil.

George Paspalas, MAG President and CEO, commented: "Salamandra continues to show structurally-controlled and broad pervasive multi-stage mineralization almost everywhere we drill. We are beginning to understand the geometry of the mineralization controls in some areas and hope that combining the drill results with the existing geophysics will help us zero in on areas with high-grade polymetallic skarn and CRD mineralization."

MAG's Phase 2 drill program consisted of five follow-up holes (SA 14-19, 20, 22, 24, 29) designed to determine the geometry of the best holes drilled in Phase 1 (SA13-13, and SA14-15), plus seven exploration holes testing geological, geochemical and geophysical anomalies around the previously undrilled half of the circumference of the district's central intrusive complex. To date, 15 of MAG's 17 total holes have cut appreciable widths of strongly anomalous zinc mineralization, leaving the entire system prospective for further drilling. The drill results will now be used to refine earlier interpretation of extensive Canasil airborne and ground geophysical data prior to Phase 3 drilling.

The best follow-up hole is SA-20, which cut 0.63 metres grading 258 grams per tonne ("gpt") (7.5 ounces per ton ("opt")) silver with 0.27% copper lying immediately above 9.9 metres grading 2.3% zinc (see Table 1). These values and relative position are very similar to that seen 380 metres deeper in SA14-15 and appear to reflect the same mineralized zone. Hole SA-22, also drilled to off-set Hole 15, cut several zinc-rich zones but appears to have been drilled above and parallel to the mineralized zone cut in Holes 15 and 20. Similarly, the first two of the three follow-up holes (SA14-19, 24 and 29) drilled to offset the broad zinc-zone cut in Hole SA13-13 each cut significant widths of zinc mineralization but the intercept geometries prevent correlation.

The seven exploration holes tested the remaining previously undrilled half of the circumference of the intrusive center. Hole SA14-28 was the best of these exploration holes, cutting 173.46 metres of 1.0% zinc mineralization starting 20 metres below the surface. Holes SA14-19, 20, 21, 22, 24 and 25 also hit notable widths of zinc mineralization. Drill holes SA14-25 and SA14-18, were drilled away from the intrusive centre to test under the recent basalt flows that flank the entire project area; both cut major faults interpreted to be the reactivated western margin of the Central Mexico Basin, the principal regional structural control on several major CRD-skarn systems.

               Table 1: Assay Results - Phase 2 Drill Program               
                                                                            
----------------------------------------------------------------------------
Hole-ID         From       To  Interval     Au     Ag     Ag    Cu   Zn   Pb
            ----------------------------------------------------------------
            (metres) (metres)  (metres)  (g/t)  (g/t)  (opt) (ppm)  (%)  (%)
----------------------------------------------------------------------------
SA14-18       214.53   214.83      0.30   0.01      2    0.1   139  1.6  0.0
----------------------------------------------------------------------------
SA14-19       128.87   130.22      1.35   0.00     59    1.7    31  0.9  1.1
----------------------------------------------------------------------------
and           349.87   388.36     37.99   0.01      1    0.0   219  1.6  0.0
----------------------------------------------------------------------------
SA14-20         8.14    28.35     20.21   0.00     12    0.4   309  1.0  0.4
----------------------------------------------------------------------------
and           305.45   306.08      0.63   0.04    258    7.5  2736  0.4  3.7
----------------------------------------------------------------------------
and           307.32   318.11     10.79   0.01      8    0.2   156  2.3  0.3
----------------------------------------------------------------------------
SA14-21       208.00   221.95     13.95   0.02      4    0.1   437  2.0  0.0
----------------------------------------------------------------------------
and           262.30   299.00     36.70   0.00     12    0.4  3239  0.4  0.0
----------------------------------------------------------------------------
SA14-22        12.66    22.36      9.70   0.00     16    0.5   148  0.8  0.3
----------------------------------------------------------------------------
and           110.65   173.04     62.39   0.01      2    0.1    88  0.8  0.0
----------------------------------------------------------------------------
including     110.65   114.38      3.73   0.00      4    0.1   185  3.2  0.0
----------------------------------------------------------------------------
and           163.12   173.04      9.92   0.03      2    0.1   154  2.0  0.0
----------------------------------------------------------------------------
SA14-23                           No Significant Values                     
----------------------------------------------------------------------------
SA14-24       231.30   300.20     68.90   0.00      1    0.0   210  0.8  0.0
----------------------------------------------------------------------------
including     281.54   299.09     17.55   0.00      1    0.0   188  1.5  0.0
----------------------------------------------------------------------------
including     293.76   299.09      5.33   0.00      1    0.0   261  3.0  0.0
----------------------------------------------------------------------------
and           300.20   304.90      4.70   0.00     39    1.1  2712  0.1  0.0
----------------------------------------------------------------------------
SA14-25       113.00   143.51     30.51   0.00     25    0.7   164  0.8  0.4
----------------------------------------------------------------------------
including     121.36   126.73      5.37   0.00     41    1.2   225  1.7  0.7
----------------------------------------------------------------------------
including     138.58   143.51      4.93   0.00     77    2.3   286  1.9  1.3
----------------------------------------------------------------------------
SA14-26                           No Significant Values                     
----------------------------------------------------------------------------
SA14-27       358.40   366.00      7.60   0.01      2    0.1   278  2.2  0.2
----------------------------------------------------------------------------
including     358.40   360.68      2.28   0.01      5    0.1   444  3.5  0.2
----------------------------------------------------------------------------
including     364.12   366.00      1.88   0.02      2    0.1   462  4.4  0.4
----------------------------------------------------------------------------
SA14-28        19.90   193.36    173.46   0.00      4    0.1    80  1.0  0.1
----------------------------------------------------------------------------
including     161.54   185.96     24.42   0.01     10    0.3   204  2.2  0.2
----------------------------------------------------------------------------
SA14-29       108.77   109.07      0.30   0.00     53    1.5   237  3.3  1.5
----------------------------------------------------------------------------

About Salamandra;

Salamandra appears to be a typical Mexican Carbonate Replacement/Skarn Deposit ("CRD") and is very similar to MAG's Cinco de Mayo Project; the same exploration model that drove successful exploration there is being applied to Salamandra. Salamandra lies 80 kilometres northwest of Mexico's largest known silver-lead-zinc CRD-skarn deposit, the Sabinas-San Martin District. Both Salamandra and Sabinas-San Martin are favorably positioned at the intersection of the Mexican CRD Belt (that also hosts MAG's Cinco de Mayo CRD project) and the Fresnillo Trend (that hosts MAG's Juanicipio Project). Previous drilling at Salamandra by Canasil (Holes SA1-12) was undertaken in a limited area characterized by medium to high-grade zinc mineralization. MAG's exploration program was designed to probe and develop a better understanding of the scope and size of the system and development of exploration vectors, so drilling focused on targets 200 to 2000 metres from previous drilling. Targets included mineralized intrusive breccias, dike swarms and mineralized structures revealed by MAG's detailed geologic mapping, geochemical sampling, and reinterpretation of Canasil geophysics. The Canasil geophysics will be reinterpreted again in the light of MAG's Stage 1 and 2 drilling results before Phase 3 drilling is undertaken.

MAG Silver-Canasil Option Agreement:

In May 2013, MAG entered into an option agreement with Canasil whereby MAG can earn up to a 70% interest in Canasil's 14,719 hectare Salamandra property (News Release dated May 28, 2013). For the initial earn-in of a 55% interest, MAG must complete C$5.5 million in exploration expenditures on the property (C$2,677,519 incurred to March 31, 2014) and make total cash payments to Canasil of C$750,000 (C$300,000 paid to date) during the first option term to May 28, 2017. MAG can earn an additional 15% by producing either a feasibility study or spending an additional C$20 million over an additional four year period.

Qualified Person, Quality Assurance and Control: These results have been compiled and provided by MAG; for details regarding the Qualified Person and Quality Assurance and Control procedures, please refer to the MAG news release dated July 21, 2014, covering these results.

About Canasil:

Canasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver-gold-copper-lead-zinc 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 through to discovery and further development. The Company is actively engaged in the exploration of its mineral properties, and maintains an operating subsidiary in Durango, Mexico, with full time geological and support staff for its operations in Mexico.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

A map is available at the following address: http://media3.marketwire.com/docs/958528a.pdf.

Contacts:
Canasil Resources Inc.
Bahman Yamini
President and C.E.O.
(604) 709-0109
www.canasil.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science," is responsible for setting the strategy and defining the Big Data service offerings and capabilities for EMC Global Services Big Data Practice. As the CTO for the Big Data Practice, he is responsible for working with organizations to help them identify where and how to start their big data journeys. He's written several white papers, is an avid blogge...
When talking IoT we often focus on the devices, the sensors, the hardware itself. The new smart appliances, the new smart or self-driving cars (which are amalgamations of many ‘things'). When we are looking at the world of IoT, we should take a step back, look at the big picture. What value are these devices providing. IoT is not about the devices, its about the data consumed and generated. The devices are tools, mechanisms, conduits. This paper discusses the considerations when dealing with the...
Wooed by the promise of faster innovation, lower TCO, and greater agility, businesses of every shape and size have embraced the cloud at every layer of the IT stack – from apps to file sharing to infrastructure. The typical organization currently uses more than a dozen sanctioned cloud apps and will shift more than half of all workloads to the cloud by 2018. Such cloud investments have delivered measurable benefits. But they’ve also resulted in some unintended side-effects: complexity and risk. ...
Sanjeev Sharma Joins November 11-13, 2018 @DevOpsSummit at @CloudEXPO New York Faculty. Sanjeev Sharma is an internationally known DevOps and Cloud Transformation thought leader, technology executive, and author. Sanjeev's industry experience includes tenures as CTO, Technical Sales leader, and Cloud Architect leader. As an IBM Distinguished Engineer, Sanjeev is recognized at the highest levels of IBM's core of technical leaders.
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
Jo Peterson is VP of Cloud Services for Clarify360, a boutique sourcing and benchmarking consultancy focused on transforming technology into business advantage. Clarify360 provides custom, end-to-end solutions from a portfolio of more than 170 suppliers globally. As an engineer, Jo sources net new technology footprints, and is an expert at optimizing and benchmarking existing environments focusing on Cloud Enablement and Optimization. She and her team work with clients on Cloud Discovery, Cloud ...
This is going to be a live demo on a production ready CICD pipeline which automate the deployment of application onto AWS ECS and Fargate. The same pipeline will automate deployment into various environment such as Test, UAT, and Prod. The pipeline will go through various stages such as source, build, test, approval, UAT stage, Prod stage. The demo will utilize only AWS services including AWS CodeCommit, Codebuild, code pipeline, Elastic container service (ECS), ECR, and Fargate.
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, we provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading...
If a machine can invent, does this mean the end of the patent system as we know it? The patent system, both in the US and Europe, allows companies to protect their inventions and helps foster innovation. However, Artificial Intelligence (AI) could be set to disrupt the patent system as we know it. This talk will examine how AI may change the patent landscape in the years to come. Furthermore, ways in which companies can best protect their AI related inventions will be examined from both a US and...
Behera Rasananda is a technologist, a leader, a key note speaker has more than 20 years experience in across Government, Financial, Heath Care and Insurance Verticals. Mr. Behera has vast experience in Enterprise Cloud and Big Data solutions and Enterprise Architecture. Currently he works closely for Government Solutions on Enterprise Cloud for Federal Government Agency. Scientist Behera managed and partner with clients to make complete end to end solution and Migration to cloud both private sec...
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Everyone wants the rainbow - reduced IT costs, scalability, continuity, flexibility, manageability, and innovation. But in order to get to that collaboration rainbow, you need the cloud! In this presentation, we'll cover three areas: First - the rainbow of benefits from cloud collaboration. There are many different reasons why more and more companies and institutions are moving to the cloud. Benefits include: cost savings (reducing on-prem infrastructure, reducing data center foot print, r...
DXWorldEXPO LLC, the producer of the world's most influential technology conferences and trade shows has announced the 22nd International CloudEXPO | DXWorldEXPO "Early Bird Registration" is now open. Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)
Excitement and interest in APIs has skyrocketed in recent years. However, if you ask a room full of IT professionals "What is an API", you will get a wide array of answers. There exists a wide knowledge gap between API experts and those that have a general idea of what they are, but are unsure of what they have been for in the past, what they look like now, and how they can be used to expand your business in the future. In this session John will cover what the history of APIs, what an API looks ...