Canasia Industries Corporation: Visible Gold Intersected at Clone Propertyadmin
Monday, August 31st 2009
Canasia Industries Corporation announce that the first phase of drilling on the Clone gold property, situated 18km southeast of Stewart, BC, is complete. The Clone property is host to at least four separate, parallel gold-bearing shear zones which contain both sulphide-gold-cobalt and iron oxide-gold mineralization.
Altogether 20 holes were drilled testing a variety of targets along these shear zones that have been traced for over a kilometer in strike length. In Holes #15 to #20 inclusive, sections from 15 to 30 feet long contain semi-massive to massive hematite, specularite, chlorite, malachite, chalcopyrite with visible gold. The mineralized zones tend to be associated with more silicified, fine-grained to aphanitic andesites intercalated with pyroclastics.
Core logging is under way and the first two batches of samples have been sent to the assay lab. Sections with visible gold have been sent in for rush assay.
Based on the positive results in this drilling, a second phase of drilling is expected to start within a matter of days.
Graeme Sewell, a director of Canasia stated, “It is exciting to have discovered visible gold in the core. These cores have now been rushed for assaying and we expect to receive the results within 2-6 weeks. Based on the visible gold sightings, the next phase of the drilling has been called for immediately. This prospect is in a historically rich mining region.”
E.R. Kruchkowski, P. Geol., is the Qualified Person for the Clone project and has read and authorized this news release. Pioneer Laboratories of Richmond, BC, an accredited facility, is performing the analyses.