CANASIA INDUSTRIES CORPORATION
789 West Pender Street, Suite 1205
Vancouver, BC V6C 1H2
July 24, 2008
Trading Symbols:
CAJ—Canada
45C—Germany
CANSF—USA
Canasia to Drill additional Gold Prospect
Canasia Industries Corporation (“Canasia”) wishes to announce that it has been notified by the operator that they have signed a contract with Elite Diamond Drilling to drill the Clone Gold Prospect located in Stewart, BC. This drill program is expected to commence on August 15th.
The Clone Gold Prospect is situated 20 km southeast of Stewart, BC and about 15 km south of Seabridge Gold Inc.’s Red Mountain gold deposit.
The property features two types of gold-bearing shear zones, exposed over a strike length of approximately 600 metres. These shears called either H or S zones (hematite or sulfide) can carry high-grade gold values. Trench #4 into the H-1 structure returned a value of 3.59 oz/ton gold over a 5.5m width; trench #10 into the S-2B structure returned 2.1 oz/ton gold over 4.5m.
Plans for the 2008 drilling program call for further testing of the S-2B structure, following up on two holes drilled by Canasia in 2006. These holes returned intercepts grading 0.114 oz/ton gold over 4.9m and 0.178 oz/ton gold over 10.8m. Drilling of the H-1 structure, 100m west of the 2003 hole which ran 2.36 oz/ton gold over 8.5 m, is also planned.
Graeme Sewell, a director of Canasia stated, “Management is pleased to be starting the 2008 summer drill program on the Clone Gold Property.”
Dino Cremonese, P. Geo, the qualified person under National Instrument 43-101 for this project, has reviewed the technical content of this news release.
If you would like to be added to Canasia's news distribution list, please send your email address to info@canasiaind.com.
Contact Information
Tel: 1877 225 6755
Fax :604 689-1733
www.canasiaind.com
info@canasiaind.com
“Graeme Sewell”
Director
Canasia Industries Corporation
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Canasia Industries Corporation
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EXPLORATION STAGE |
CODE : CAJ.V |
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Canasia Industries is a gold and copper exploration company based in Canada. Its main exploration properties are DEBUT GOLD in USA and CLONE GOLD in Canada. Canasia Industries is listed in Canada and in Germany. Its market capitalisation is CA$ 1.4 millions as of today (US$ 1.3 millions, € 968 325). Its stock quote reached its highest recent level on June 13, 2008 at CA$ 0.56, and its lowest recent point on July 07, 2014 at CA$ 0.01. Canasia Industries has 140 678 000 shares outstanding. |