Canasia Industries Corporation wishes to announce that it has been notified by the operator that the permit for two grids totaling 24 line kilometres has now been received from the Manitoba government. Line cutting and a surface geophysical survey will commence immediately. The survey will consist of 24 line kilometres of horizontal loop electromagnetic survey at 25-metre spacing and a magnetometer survey at 25-metre spacing.
This prospect lies in one of Canada’s most prolific mining areas with more than 27 significant mineral deposits continuously discovered over the past 75 years. This prospect is bordering VMS Ventures Inc.’s recent discover with intercepts grading 33.46 m of 10.36% Copper. VMS Venture’s news release January 15, 2009 stated, “The most encouraging results from these BHEM surveys is that the cross-component BHEM vector is not pointing back to the known mineralized zone, but rather is pointing away from it, toward the west-southwest of the deposit. The implications of the survey indicate excellent potential to significantly expand on the strike and (down) plunge extent of this mineralization.” Canasia’s property is bordering VMS to the south and west.
Graeme Sewell, a director of Canasia stated, “It has been over a year of planning and data evaluation to get to the stage we are now at. Conducting this survey at 25 metre spacing will enable this final geophysical survey to interpret and pinpoint the highest priority drill targets. Management expects drilling to commence in February.”