The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
CAJ: TSX-V
Director: Graeme Sewell
President and Director: Negar Towfigh
Project geologist: E.R. Kruchkowski
Canasia Industries Corp. is a Canadian exploration company dedicated to aggressive pursuit of world-class mineral deposits.
Among the junior's opportunities is the Clone gold property located in the Eskay Creek-Stewart Region of British Columbia about 20 kilometers, or 12 miles, southeast of Stewart, B.C. and the Canada-Alaska border.
Canasia holds an option to acquire a 50 percent interest in the property from owners Teuton Resources Corp. and Silver Grail Resources Corp., by spending C$1.8 million over five years.
To date, Canasia has spent $400,000 on the Clone.
Teuton-Silver Grail will act as operator during the term of the option.
The Eskay Creek-Stewart Region to date has produced 15 million ounces of gold, 270 million ounces of silver, and 4 billion pounds of copper and 782 million pounds of molybdenum.
Much of the Clone property was staked in 1994 as part of a regional effort aimed at exploring virgin ground made newly viable by receding glaciers.
The process of glacial melt, known as ablation, has progressed at a striking rate over the course of the past decades.
As far as mineral exploration is concerned such environmental change greatly increases the ease at which previously difficult or unreachable ground is made available.
The Clone property is one such example, Canasia said.
Cash and short-term deposits: C$667,885 (at March 31, 2009; raised about C$1.5 million in private placements as of August 2009)
Working capital: C$179,526
Market capitalization: C$9.23 million
1470 - 701 W. Georgia St.
P.O. BOX 10112 Pacific Centre
Vancouver, BC
Canada V7Y 1C6
Tel: 604-685-5150
Fax: 604-689-1733
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