Canasil Resources applies for Vizcaino drill permit

Executive Summary

• Canasil Resources Inc. has submitted a drill permit application for its Vizcaino gold‑silver project in Durango, Mexico; the permit is expected by end of Q1 2026 or early Q2 2026.
• The fully financed Phase 1 program will consist of 1,050 m in six HQ core holes (Q2 2026), with a follow‑on Phase 2 of 1,450 m in eight HQ core holes pending Phase 1 results.
• Surface sampling has returned anomalous gold values up to 667 ppb, indicating a high‑grade epithermal vein system that has not yet been drill tested.

Key Details

• Permit Timeline: Application is “in progress”; company anticipates receipt of the permit by end of Q1 2026 or early Q2 2026.
• Phase 1 Drilling: 1,050 m total depth across six HQ core holes; slated to start in Q2 2026 once the permit is granted.
• Phase 2 Drilling: Planned contingent on Phase 1 results; 1,450 m across eight HQ core holes targeting deeper sections of the vein system.
• Overall Program: Combined 14 HQ core holes totaling 2,450 m, covering seven drill sections designed to intersect the epithermal vein at vertical depths of ~150–200 m.
• Surface Geochemistry:
• 20 samples (elevations 2,300‑2,350 m) yielded gold 32–141 ppb over a 1 km strike length.
• 9 samples (elevation 2,250 m) yielded gold 161–667 ppb over a 400 m strike length.
• Project Context: Vizcaino lies on intersecting northwest‑southeast silver and east‑west gold trends in a region with active producing mines (e.g., Heliostar Metals’ San Agustín and El Castillo). The vein outcrop is 1–12 m wide, extending ~3 km strike.
• Financing: The drill program is fully funded; no additional capital raise disclosed.
• Contractor Selection: Quotes from drill contractors have been received and are under evaluation for award.
• Qualified Person Review: Technical information reviewed and approved by Gary Nordin, P.Geo., qualified person (NI 43‑101) and director of Canasil.

Notable Quotes

(No direct quotes were provided in the release.)