Canasia Industries Corporation (TSX VENTURE:CAJ)(PINK SHEETS:CANSF)(FRANKFURT:45C) has been informed by the operator that the grades for the initial samples from the first 17 tons of bulk sample have been received.
Grades from 17 samples representing the first 17 tons returned grades as high as 19.1 oz/ton gold with an average of 2.57 oz/ton gold.
Negar Adam, president of Canasia stated, "We are pleased with the results from the samples from this bulk sampling. Initially, the bulk sample is the way Canasia will derive proceeds from the gold on the Clone Prospect, as the bulk sample will be processed and the material of value will be sold by the Company. The goal of the 2010 Clone drill program is to determine where the best place for a much larger scale bulk sample should occur. The first drill hole returned grades of 5.98 g/t gold over 11.58 metres, which extended the zone of where we will bulk sample. Management is attempting to build a model for where to focus the next phase of a larger bulk sampling program and is pleased with the results achieved to date."
As previously announced on October 6, 2010, drilling has been completed and initial results from the first two holes have been received. The first hole returned grades of 5.98 g/t gold over 11.58 metres including 25.75 g/t gold over a 2.13 meters and including 105 g/t gold over a one foot section. Hole two had a 1.77 meter intercept that returned grades of 11.36 g/t. The remaining 14 holes are still pending and will be released once all the results have been completed. These results are expected to be received in approximately 3-7 weeks, which is a standard time frame.
E.R.Kruchkowski, PGeo, a qualified person under National Instrument 43-101, has read and authorized this news release.
Source: Canasia Industries Corporation