What Canasil Resources does

Canasil Resources Inc. is a Canadian mineral exploration company focused on identifying and advancing silver, gold, copper, zinc, and lead deposits in two proven mining jurisdictions: the Sierra Madre Occidental/Fresnillo silver-gold trend in Durango and Zacatecas States, Mexico, and the Quesnel-Stikine Terrane in British Columbia, Canada. The company holds 100% interests in approximately six Mexican projects (La Esperanza, Salamandra, Nora, Colibri, Vizcaino, Carina, plus a net smelter return on Sandra) and three to four BC projects (Brenda, Vega, Lil, with prior exposure to Granite and Canmine Minerals spin-off assets). Exploration methodology is conventional: diamond drilling, ZTEM airborne geophysics, 3D IP/Resistivity surveys, geological mapping, soil and rock geochemical sampling, and bench-scale metallurgical testing (with reported 94-98% silver recoveries via flotation at the Lil project).

The business model is that of a junior mining explorer: pre-revenue from operations, the company funds exploration through non-brokered private placements and warrant exercises, and monetizes asset positions through property sales, joint ventures, and option/farm-in agreements with major and mid-tier mining companies. Documented counterparties include Pan American Silver (acquired the Sandra-Escobar interest in 2019 for CDN $2 million plus a 2% NSR), MAG Silver (earned up to 70% at Salamandra, operated La Esperanza JV), Orex Minerals (55% earn-in at Sandra-Escobar), and Amarc Resources (optioned the Brenda property in 2025 for CDN $400,000). The customer base therefore consists of (a) capital markets investors on the TSX Venture Exchange (CLZ) and Deutsche Börse Frankfurt (3CC), and (b) producing mining companies seeking acquisition, JV, or farm-in exposure to early-stage exploration projects.

The company is led by President & CEO Bahman Yamini and CFO David Cross, with technical leadership from Mexico-based Exploration Manager Fabian Espinoza (appointed February 2026, ex-Hecla Mining, Alamos Gold, Yamana Gold, Coeur Mining) and a board including Certified Professional Geologists. The corporate strategy is to identify large mineralized systems on recognized mineral trends, advance them through systematic exploration, and crystallize value via partnership with producing miners, supplemented by an ongoing royalty stream on assets Canasil has divested.

Name

Canasil Resources

Legal name

Canasil Resources Inc.

Website

https://canasil.com

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

1–10 employees

Short description

Canasil Resources Inc. is a Canadian junior mineral exploration company advancing 100%-owned silver, gold, copper, zinc, and lead projects in Durango/Zacatecas, Mexico and British Columbia, Canada, serving capital-markets investors and producing mining-company partners via property sales, joint ventures, and royalties.

Ownership category

akta.pro rank

Product category

Mineral Exploration

NAICS

Other Metal Ore Mining (21229), Support Activities for Metal Mining (213114)

SIC

Metal Mining (1000), Miscellaneous Metal Ores (1090)

akta.pro primary industry

Precious Metals Exploration & Project Development (IMAKAEAI)

akta.pro secondary industry

Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)

Keywords

• Mineral exploration services
• Silver gold exploration
• Copper zinc projects
• Diamond drilling programs
• Mineral property development

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Mineral Property Exploration and Development: Pre-revenue mineral exploration company focused on discovering and advancing silver, gold, copper, zinc, and lead deposits through exploration programs. Revenue would come from selling properties, joint ventures, or production royalties if deposits are developed.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Canasil Resources is a Canadian junior mineral exploration company that identifies, acquires, and advances 100%-owned silver, gold, copper, zinc, and lead exploration projects in the Durango and Zacatecas States of Mexico and in British Columbia, Canada. The company conducts systematic exploration programs including geological mapping, surface sampling, ZTEM airborne geophysics, 3D IP/Resistivity surveys, and diamond drilling to discover and advance mineral deposits, monetizing value through joint ventures, option agreements, property sales, and net smelter return (NSR) royalties with major mining partners.

Product overview

Canasil Resources Inc. is a Canadian mineral exploration company offering exploration services for silver, gold, copper, zinc, and lead deposits. The company's portfolio consists of 100%-owned exploration projects in two regions: six projects in Durango and Zacatecas States, Mexico (La Esperanza, Nora, Salamandra, Vizcaino, Carina, Colibri, Sandra) targeting high-grade silver-gold and base metal systems; and three Copper-Gold-Silver projects in British Columbia, Canada (Brenda, Vega, Lil) on the prolific Quesnel-Stikine Terrane. The company conducts systematic exploration programs including geological mapping, surface sampling, geophysical surveys (ZTEM, IP/Resistivity), and diamond drilling to identify and advance mineral deposits.

Differentiator

Problem solved

Functional benefit

Products and services

• La Esperanza Project Silver-zinc-lead exploration project located in Durango and Zacatecas States, Mexico, covering 435 hectares with vein-type mineralization containing silver, zinc, and lead values. The project targets high-grade silver-gold and base metal systems within a recognized silver-gold trend hosting major historic and world-class producing mines and deposits.
• Nora (NSR) Project Silver-gold exploration project in Durango, Mexico, featuring the Candy Vein with high-grade gold and silver mineralization including intercepts of up to 20.59 g/t Au and 1,290 g/t Ag. Nora project Candy Vein intercept has demonstrated up to 8,445 g/t AgEq x metres true width x grade. The project carries an NSR (Net Smelter Return) royalty interest.
• Salamandra Project Zinc-silver exploration project in Durango, Mexico, covering 2,900 hectares on the Fresnillo geologic trend with skarn/manto replacement style mineralization. Phase 1 drilling intersected 12% zinc and 50 g/t silver over 7.45 metres close to surface. MAG Silver signed a binding letter agreement to earn up to 70% interest in the project, conducting multiple drill programs including Phase 3 drilling.
• Vizcaino Project Gold-silver exploration project in Durango State, Mexico, currently in drill permit application phase. The project targets gold-silver mineralization as part of Canasil's Mexico portfolio.
• Carina Project Exploration project in Durango, Mexico, targeting silver-gold mineralization. Part of Canasil's 100%-owned Mexico portfolio of projects along the recognized silver-gold trend in Durango and Zacatecas States.
• Colibri Project Silver-copper-zinc-lead exploration project in Durango, Mexico, covering 16,074 hectares with multiple vein structures including the Linda vein. Phase 1 diamond drill program returned high-grade mineralized intercept with 3.49% copper, 98 g/t silver and 1.96% zinc over 3.70 metres.
• Sandra (NSR) Project Gold-silver-copper-lead exploration project in Durango, Mexico, with multiple mineralized veins over 3 km strike length. The Sandra-Escobar project (Sandra project) is subject to a Net Smelter Return (NSR) royalty interest following the 2019 sale of Canasil's interest to Pan American Silver for CDN $2 million plus a 2% NSR. Orex Minerals previously reported 33.3 million ounces of silver inferred resource at the Boleras deposit.
• Brenda Project Gold-copper exploration project in British Columbia, Canada, in the Kemess-Toodoggone district featuring porphyry-style gold-copper mineralization. Canasil granted an option to Amarc Resources Ltd. in February 2025 to acquire the property in the Toodoggone-Kemess porphyry copper-gold region.
• Vega Project Copper-gold exploration project in North-Central British Columbia, Canada, located on the Quesnel-Stikine Terrane. Part of Canasil's 100%-owned BC Copper-Gold-Silver project portfolio on the prolific Quesnel-Stikine Terrane, a recognized mineralized trend extending through central British Columbia hosting major copper-gold mines and deposits.
• Lil Project High-grade silver exploration project in North Central British Columbia, Canada, featuring very high-grade silver channel samples ranging from 148 g/t to 11,159 g/t silver. Laboratory bench tests returned 94%-98% silver recoveries through flotation. The project is identified using drone-supported reconnaissance, high-resolution drone imagery, and channel sampling to evaluate high-grade silver mineralized zones.

Quantifiable outcome

• Lil project high-grade silver channel samples: 148 g/t to 11,159 g/t silver
• +2 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core, minor and major.

• Amarc Resources Ltd.coreStrategic or Co-development Partner · 11 February 2025Canasil granted an option to Amarc to acquire Canasil's Brenda gold-copper-silver property located in the Toodoggone-Kemess porphyry copper-gold region in British Columbia, Canada.
• Silver Dollar Resources Inc.minorStrategic or Co-development Partner · 20 April 2023Canasil and Silver Dollar signed option and exclusivity agreements. The exclusivity period was terminated in June 2023.
• Silver Viper Minerals Corp.minorStrategic or Co-development Partner · 7 November 2022Canasil entered into a letter of intent for proposed business combination with Silver Viper. An amended LOI was announced in December 2022, but the non-binding LOI expired in February 2023.
• Pan American Silver Corp.majorStrategic or Co-development Partner · 28 June 2019Pan American Silver acquired Canasil's interest in the Sandra-Escobar project for CDN $2 million and a 2% NSR royalty. The transaction closed in June 2019. Canasil had previously held an interest through a joint venture arrangement.
• Orex Minerals Inc.majorStrategic or Co-development Partner · 15 September 2015Orex Minerals optioned Canasil's Sandra-Escobar silver-gold project. Orex achieved 55% earn-in to form a 55:45 joint venture, completed initial 17 drill hole program, and reported 33.3 million ounces of silver inferred resource at the Boleras deposit.
• MAG Silver Corp.majorStrategic or Co-development Partner · 28 May 2013MAG Silver signed a binding letter agreement to earn up to 70% interest in Canasil's Salamandra silver-copper-zinc-lead project in Durango, Mexico. MAG Silver conducted multiple drill programs including Phase 3 drilling. MAG Silver also operated the La Esperanza joint venture project.

Scale indicators4 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• MAG Silver Corp. MAG Silver is a silver-focused exploration/development company with primary projects in the Fresnillo trend of Durango, Mexico. It is directly comparable: it was a Canasil JV/option partner at Salamandra (up to 70% earn-in) and operates in the same Mexican silver belt with similar project scale.
• Silver Viper Minerals Corp. Silver Viper was the target of Canasil's proposed 2022 business combination (LOI expired Feb 2023). It is a silver-focused junior explorer in Mexico with analogous project type, size, and jurisdictional footprint.
• Avino Silver & Gold Mines Ltd. Avino Silver & Gold Mines is a silver-gold producer with exploration assets in Durango, Mexico. Comparable in commodity focus (silver, gold, base metals), jurisdiction overlap, and project-stage profile as a small-cap silver company.
• Amarc Resources Ltd. Amarc Resources holds an option on Canasil's Brenda gold-copper-silver property in the Toodoggone-Kemess region of BC. Both are junior explorers active on the Quesnel-Stikine Terrane pursuing copper-gold porphyry and epithermal systems.
• Orex Minerals Inc. Orex Minerals was Canasil's joint-venture partner at the Sandra-Escobar silver-gold project in Durango, earning 55%. Both companies are junior explorers with Mexican silver-gold assets operating in the same geological terrane.
• Silver Dollar Resources Inc. Silver Dollar Resources signed an option and exclusivity agreement with Canasil in 2023. Comparable as a junior precious-metals explorer focused on North American silver projects with similar scale and exploration-stage profiles.

Broad incumbents

• Pan American Silver Corp. Pan American Silver is a major silver producer that acquired Canasil's interest in Sandra-Escobar in 2019. As a major mining company with a long track record of acquiring junior-explorer assets in Mexico, it represents a key strategic-buyer comp and validates project quality in Canasil's pipeline.
• Hecla Mining Company: Hecla Mining is a large silver and gold producer and previously employed Canasil's new Exploration Manager (Fabian Espinoza) in Durango. Comparable as a silver-focused operator with overlapping personnel and Mexican operating presence, though much larger and producing rather than exploratory.
• First Majestic Silver Corp. First Majestic is a mid-tier silver producer with multiple operating mines in Mexico. It is comparable in silver-gold commodity focus and Mexican operating geography but operates at significantly larger scale with producing assets rather than exploration only.

Emerging players

• Gatos Silver, Inc. Gatos Silver is a Mexico-focused silver producer developing the Cerro Los Gatos mine in Chihuahua, with active exploration. Comparable as a silver-focused peer operating in Mexico with similar geological setting and growth-via-discovery narrative.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/embed/dmad5ElxGbQ
• LinkedInlinkedin.com/company/canasil-resources-inc-

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Canasil Resources