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Highlights
- Canasil plans to seek reinstatement to TSX-V Tier 2 by Q1 2026.
- Multiple drill programs are planned across British Columbia and Mexico in 2026.
- The Vizcaino project in Durango is scheduled for its first-ever drill testing.
- Drill permitting is expected across key Mexican assets in Q1–Q2 2026.
Canasil Resources Inc. (TSX-V:CLZ.H) (DB Frankfurt: 3CC) has outlined its plans for 2026, focusing on advancing its portfolio of silver, gold, and copper exploration projects in British Columbia, Canada, and the Mexican states of Durango and Zacatecas. The company holds 100% ownership of its exploration assets and operates in established mining jurisdictions.
Corporate Objective: TSX-V Tier 2 Reinstatement
A key corporate priority for 2026 is Canasil’s planned reinstatement to Tier 2 of the TSX Venture Exchange from the TSX-V NEX board. The company intends to actively pursue the reinstatement application process, with completion expected during the first quarter of 2026.
British Columbia Projects
Brenda Copper-Gold Project (Optioned to Freeport-Amarc): Canasil is awaiting Amarc Resources Ltd.’s decision regarding the extension of the Brenda property option agreement with the first anniversary date set for February 4, 2026. If the agreement is extended, Freeport-Amarc would be required to make a cash payment of $400,000, and the option exercise price would increase to $9 million during the second year of the agreement.
Lil High-Grade Silver Project: At the Lil silver project, Canasil is preparing follow-up exploration programs aimed at further investigating previously identified high-grade silver showings in the Lil Creek area. These activities are planned for the summer exploration season during the third and fourth quarters of 2026.
Mexico Projects
Vizcaino Gold-Silver Project, Durango: Canasil has completed detailed planning for a 2,450-meter diamond drilling program across 14 drill holes at the Vizcaino project. The program is designed to test a potentially high-grade epithermal gold-silver vein traced over a strike length of approximately three kilometers, with outcrop widths ranging from one meter to twelve meters. Located 127 kilometers north of the city of Durango, the Vizcaino project has not previously been drill tested. The company plans to apply for drill permits without delay and expects to commence a Phase 1 program of 1,050 meters in six drill holes during the second quarter of 2026, subject to permitting.
Salamandra Silver-Copper-Zinc Project, Durango: The Salamandra project is located approximately 35 kilometers from the city of Durango and has been the subject of extensive exploration programs, including airborne and ground geophysics, surface sampling, geological mapping, and 17,980 meters of diamond drilling across 35 drill holes. Canasil is completing a comprehensive technical review and preparing exploration plans, with drill permit applications targeted for the first quarter of 2026.
2026 Outlook
Canasil expects 2026 to be an active year, with planned exploration programs across its project portfolio and multiple permitting initiatives in Mexico. The company also anticipates Amarc’s decision on the Brenda option agreement in early February 2026 and continues to assess financing opportunities to support its planned exploration activities and ongoing operations.
CLZ.H closed at CAD 0.050 on January 13, 2026.
