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Highlights
- Canasil Resources plans CAD 500,000 private placement at CAD 0.05 per share.
- Proceeds will fund ongoing operations and advance Canadian and Mexican exploration projects.
- Lil, Vizcaino, La Esperanza, and Salamandra projects targeted for drilling and exploration in 2026.
- The company expects to close the placement prior to January 23, 2026.
Canasil Resources Inc. (TSX-V:CLZ.H) (DB Frankfurt:3CC) has announced a planned private placement of 10 million shares at CAD 0.05 per share, aiming to raise gross proceeds of CAD 500,000. The placement will include participation from certain insiders and existing shareholders. No warrants will be issued, though a commission or finders’ fee may apply to a portion of the proceeds.
The funds will be used to support ongoing operations and advance Canasil’s portfolio of silver-gold-copper exploration projects across British Columbia, Canada, and Durango and Zacatecas States, Mexico. The company anticipates closing the placement promptly, ahead of January 23, 2026.
Targeting Key Projects Across Canada and Mexico
At the Lil high-grade silver project in British Columbia, Canasil plans detailed programs in Q3 and Q4 2026 to investigate high-grade silver showings at Lil Creek.
In Mexico, the Vizcaino gold-silver project in Durango is scheduled for a 2,450m diamond drilling program across 14 planned drill holes. The Phase 1 program will target 1,050m in six holes once drill permits are approved.
Further exploration is planned at the La Esperanza silver-gold-base metal project, spanning Durango and Zacatecas, including diamond drilling, over a mineralized envelope that already returned significant high-grade gold, silver, lead, and zinc values.
Additionally, the Salamandra silver-copper-zinc project in Durango, only 35kmfrom the city center, will undergo further exploration. With nearly 18,000m of prior drilling across 35 holes and results confirming high-grade mineralization, Canasil plans a comprehensive technical review and drill permit applications in Q1 2026.
This private placement is expected to strengthen Canasil’s financial position as it advances its Canadian and Mexican projects in 2026, aiming to capitalize on high-grade silver, gold, and copper opportunities across multiple prospective districts.
On January 13, 2026, CLZ.H shares surged 11.11% to close at CAD 0.050, marking a remarkable 66.67% gain over the past month.
