Canasia Industries Corporation: Reed Lake Drill Program Update

Canasia Industries Corporation: Reed Lake Drill Program Update

March 19, 2009 Filed Under: Copper Mining, Precious Metal  

Canasia Industries Corporation announce that it has been notified by the operator of the Reed Lake prospect that drilling is continuing. At this time, 17 samples are in the process of being shipped to Acme Labs in Vancouver for 31 element ICP analysis. All the drilling on this first phase is expected to be completed near the end of March, at which point additional samples are expected to be shipped for testing.

Canasia has also engaged the professional services of Mr. Victor Jaramillo, M.Sc.A, P.Geo with Discover Geological Consultants Inc., to oversee this project and to review and advise on all of Canasia’s other prospects. Mr. Jaramillo is an international geological consultant with over 25 years experience in the mining industry. He has previously held positions with mining companies such as Newmont Mining Corp. and Homestake Mining Company (now Barrick Gold Corp.) as senior project geologist, chief mine geologist and exploration manager. Mr. Jaramillo has been involved in the management of multi-million dollar exploration projects including large drill programs; supervises QA/QC (Quality Assurance/Quality Control) programs and is very knowledgeable in the preparation of Technical NI 43-101 Reports, including resource reports. Mr. Jaramillo supervised the team that discovered the La Langosta porphyry copper-gold prospect in Mexico, and the Las Lomas porphyry copper-gold prospect in Peru.

Graeme Sewell, a director of Canasia stated, “We are very fortunate to have a geologist of Victor’s stature working with the company. He has a distinguished past and has been instrumental in overseeing and developing multiple projects and ultimately mines. He adds immediate value with his vast knowledge of copper-gold deposits, especially as we are in the middle of the Reed Lake drill program now. Victor will also be valuable as Canasia evaluates our other projects including the coal, potash and gold projects that are anticipated to be worked on in 2009.”

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