Kinross Advises Canasia of Planned Drill Program on Debut Property in Nevada
Canasia Industries Corporation announce that it has been notified by Kinross Gold USA, who has a mineral lease agreement with Canasia on the Debut Prospect (announced Sept 9, 2008), that permitting to drill is expected to be filed in April on the prospect. The proposed plan will call for approximately 22 drill holes located on the property. Drilling is expected to take approximately 6-8 weeks. The agreement between Kinross and Canasia requires Kinross to spend a minimum of $3,000,000 U.S. in exploration.
Graeme Sewell, a director of Canasia stated, “This is a positive development for the company. Working with a major TSX gold company on this property, who has vast experience in the area, is a beneficial development for Canasia. The fact that Kinross approached Canasia to work on this prospect confirms management’s optimism in regards to this gold prospect.”
Canasia’s active projects include the following: (a) 199,736 acres contiguous to and surrounding a recent major copper/gold discovery at Reed Lake Manitoba; (b) an active work program on over 450,000 acres of potash claims on the Saskatchewan/Alberta border; (c) coal permits covering approximately 244,417 acres, near multiple recent coal discoveries in S/E Saskatchewan; (d) Clone Gold prospect located in the Eskay Creek/Stewart Region of British Columbia; and (e) the Debut Gold property, is located in the Delker Mining District of NE Nevada, and has entered into a Mineral Lease Agreement with Ki