MAG Silver Reports Phase 2 Drill Results from La Esperanza Silver Project in Durango and Zacatecas States, Mexico
23 Janeiro 2013 - 3:09PM
Marketwired Canada
Canasil Resources Inc. (TSX VENTURE:CLZ)(FRANKFURT:3CC) ("Canasil") announces
that MAG Silver Corp. (TSX:MAG)(NYSE MKT:MVG) ("MAG") has reported drill results
from the recently completed Phase 2 drill program at Canasil's La Esperanza
silver-lead-zinc project in Durango and Zacatecas States, Mexico. 12 diamond
drill holes were completed for a total of 3,049.50 metres - 9 drill holes on 5
sections along a total strike length of 835 metres to test the Fatima vein and 3
drill holes on 2 sections 350 metres apart to test the San Pascual vein, both
located in the northwest of the project area.
The best intercept from the San Pascual vein was from drill hole SP12-01 at a
core depth of 79.00 metres with 4.93 metres (true width 2.19 metres) of 0.19 g/t
gold, 104.2 g/t silver, 2.57% lead and 7.88% zinc, including 2.77 metres (true
width 1.23 metres) of 0.23 g/t gold, 162.2 g/t silver, 3.91% lead and 13.39%
zinc. The best intercept from the Fatima vein was from drill hole FA12-05 at a
core depth of 155.55 metres with 4.15 metres (true width 2.76 metres) of 0.07
g/t gold, 92.4 g/t silver, 0.98% lead and 0.11% zinc, including 2.76 metres
(true width 1.84 metres) of 0.07 g/t gold, 111.5 g/t silver, 1.04% lead and
0.14% zinc. Detailed results for all drill holes are included in the table
below. The results are currently being reviewed with regards to plans for future
exploration programs on the project.
About La Esperanza:
The La Esperanza project covers 68,954 hectares, located in the Mexican Silver
Belt in northern Zacatecas and southern Durango States. This recognized
world-class silver belt hosts some of the world's largest and highest grade
silver deposits and operating mines. The La Esperanza project is close to a
number of active mines such as Pan American Silver's La Colorada and First
Majestic Silver's La Parrilla mines. The project covers multiple vein
occurrences and alteration zones over a 20 kilometre strike length along a
prospective SE-NW trend where the results of an airborne geophysical survey
conducted by MAG and drilling to date by MAG and Canasil indicate potential for
hosting a large mineralized system.
The project is under an option agreement whereby MAG can earn a 60% interest by
completing CAD$ 5,000,000 in cumulative exploration expenditures by September 1,
2014, (CAD$ 1,885,788 completed to September 30, 2012) and making a further CAD$
200,000 cash payment to Canasil by September 1, 2013.
Qualified Person: Dr. Peter Megaw, Ph.D., C.P.G., Director of MAG, has acted as
the qualified person as defined in National Instrument 43-101 for this
disclosure and supervised the preparation of the technical information in this
release. Dr. Megaw has a Ph.D. in geology and more than 20 years of relevant
experience focused on silver and gold mineralization, and exploration and
drilling in Mexico. He is a certified Professional Geologist (CPG 10227) by the
American Institute of Professional Geologists and an Arizona registered
geologist (ARG 21613). Dr. Megaw is not independent as he is a Director and
Shareholder of MAG. Dr. Megaw is satisfied that the results are verified based
on an inspection of the core, a review of the sampling procedures, the
credentials of the professionals completing the work and the visual nature of
the silver and base metal sulphides within a district where he is familiar with
the style and continuity of mineralization.
About MAG Silver and Canasil:
MAG is a leading silver exploration and emerging development company in Mexico,
with considerable experience and a very successful track record of high-grade
silver discoveries in epithermal vein systems of the Fresnillo Silver Trend, as
well as a number of other large development stage and exploration projects in
Mexico.
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 actively engaged in the
exploration of its mineral properties.
MAG Silver Phase 2 Drill Program at Canasil's La Esperanza Silver Project,
Durango and Zacatecas States, Mexico
--------------------------------------------------------------------------
True
From To Interval Width Gold Silver Lead Zinc
Hole ID (metres) (metres) (metres) (metres) (g/t) (g/t) (%) (%)
--------------------------------------------------------------------------
Fatima Vein
--------------------------------------------------------------------------
FA12-01 144.41 147.31 2.90 2.53 0.00 1.0 0.06 0.38
--------------------------------------------------------------------------
and 149.73 150.03 0.30 0.26 0.93 4.5 0.05 0.26
--------------------------------------------------------------------------
FA12-02 245.86 247.39 1.53 1.33 0.36 57.7 3.23 3.89
--------------------------------------------------------------------------
FA12-03 157.30 157.95 0.65 0.52 0.02 21.7 0.52 0.62
--------------------------------------------------------------------------
and 163.69 164.30 0.61 0.49 0.58 9.1 0.07 0.61
--------------------------------------------------------------------------
FA12-04 268.71 269.19 0.48 0.23 0.12 1.7 0.03 0.11
--------------------------------------------------------------------------
and 280.42 284.25 3.83 1.90 0.32 10.9 0.21 0.21
--------------------------------------------------------------------------
including 281.11 282.17 1.06 0.53 0.54 15.5 0.51 0.24
--------------------------------------------------------------------------
FA12-05 155.55 159.70 4.15 2.76 0.07 92.4 0.98 0.11
--------------------------------------------------------------------------
including 155,55 158.26 2.76 1.84 0.07 111.5 1.04 0.14
--------------------------------------------------------------------------
including 157.65 158.26 0.61 0.41 0.27 135.0 4.57 0.18
--------------------------------------------------------------------------
and 175.57 180.04 4.47 3.15 0.07 1.8 0.03 0.07
--------------------------------------------------------------------------
and 192.47 192.72 0.25 0.17 0.00 5.3 0.01 1.25
--------------------------------------------------------------------------
FA12-06 65.26 65.96 0.70 0.30 0.01 14.7 0.01 0.04
--------------------------------------------------------------------------
and 282.66 286.21 3.55 1.50 0.12 17.7 0.08 0.09
--------------------------------------------------------------------------
Including 284.14 285.35 1.21 0.51 0.28 35.3 0.16 0.12
--------------------------------------------------------------------------
Including 286.81 287.91 1.10 0.46 0.00 16.7 0.00 0.14
--------------------------------------------------------------------------
FA12-07 279.13 280.48 1.35 1.26 0.02 11.3 0.17 0.26
--------------------------------------------------------------------------
FA12-08 202.39 205.51 3.12 2.87 0.15 51.8 2.45 0.04
--------------------------------------------------------------------------
including 202.39 204.26 1.87 1.72 0.23 89.2 3.88 0.05
--------------------------------------------------------------------------
and 235.14 236.03 0.89 0.82 1.67 37.7 11.45 0.11
--------------------------------------------------------------------------
FA12-09 259.13 262.13 3.00 1.89 0.08 1.1 0.02 0.05
--------------------------------------------------------------------------
San Pascual Vein
--------------------------------------------------------------------------
SP12-01 79.00 83.93 4.93 2.19 0.19 104.2 2.57 7.88
--------------------------------------------------------------------------
including 79.00 81.77 2.77 1.23 0.23 162.2 3.91 13.39
--------------------------------------------------------------------------
including 79.00 79.80 0.80 0.44 0.07 270.0 7.98 23.00
--------------------------------------------------------------------------
including 81.00 81.77 0.77 0.34 0.71 286.0 5.62 24.00
--------------------------------------------------------------------------
There were no significant intercepts in drill holes SP12-02 and SP12-03 on the
San Pascual vein.
FOR FURTHER INFORMATION PLEASE CONTACT:
Canasil Resources Inc.
Bahman Yamini
President and C.E.O.
(604) 708-3788
(604) 708-3728 (FAX)
admin@canasil.com
www.canasil.com
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