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Highlights
- Canasil Resources is advancing the Vizcaino drill permit, supported by a fully funded exploration program.
- The company anticipates receiving the drill permit by late Q1 or early Q2 2026.
- The planned drilling totals 2,450 meters across 14 HQ core holes.
- Surface sampling indicated higher gold values at lower elevations.
- The project remains untested by drilling despite a 3-kilometer traced vein.
Canasil Resources Inc. (TSX-V:CLZ) (DB Frankfurt: 3CC) has reported continued progress at its Vizcaino Gold-Silver Project in Durango, Mexico, as the drill permit application advances and preparations for drilling move forward. With the exploration program fully funded and contractor quotations received, the company plans to commence its drill program upon receipt of the permit, which is expected by the end of Q1 2026 or early Q2 2026.
The permit will also include provisions for follow-up drilling, allowing step-outs along strike and at depth to support future exploration campaigns at the Vizcaino project.
Phased Exploration Plan
The initial exploration strategy outlines a combined 2,450 meters of drilling across 14 HQ core holes. The Phase 1 drill program, planned for Q2 2026, will comprise six HQ core drill holes. Phase 2, totaling 1,450 meters in eight holes, will proceed after the results from Phase 1 are assessed.
The planned drill holes are positioned on seven sections and are designed to intercept and test the epithermal vein at vertical depths of approximately 150 meters and 200 meters.
Extensive Vein Yet to Be Drill Tested
The Vizcaino project hosts a potentially high-grade gold-silver epithermal vein traced along a 3-kilometer strike length, with surface widths ranging from 1 meter to 12 meters. The property has not been previously drill tested.
Located 127 kilometers north of the city of Durango, the project is situated in a region that includes producing gold-silver mines and deposits, such as the San Agustin and El Castillo mining complex operated by Heliostar Metals.
At the Crossroads of Regional Trends
The project is positioned along a recognized northwest-southeast silver trend that extends through Durango and Zacatecas states. It also lies on a west-east gold trend that runs across Durango from Sinaloa to northern Zacatecas.
This location places Vizcaino at the intersection of two major regional mineral trends.
Surface Sampling Points to Depth Potential
Outcrop exposures show banded epithermal textures typical of the upper levels of vein systems.
Sampling at higher elevations in the southeast returned anomalous gold values ranging from 32 ppb to 141 ppb across 20 samples over a 1,000-meter strike. At lower elevations in the northwest, gold values increased to between 161 ppb and 667 ppb in nine samples over a 400-meter strike.
These results indicate that the surface exposure represents the upper part of the system and suggest increasing grades at depth, with the system remaining intact.
Canasil looks forward to advancing the Vizcaino Gold-Silver Project through the planned Phase 1 and Phase 2 drilling programs, which will provide the first-ever subsurface testing of this highly prospective epithermal vein system. The company remains focused on executing its exploration strategy efficiently and responsibly, with the goal of unlocking the gold-silver potential of Vizcaino.
