Canasia Industries Corp. has commenced operations on its Clone gold prospect in Stewart, B.C. Payment for the first phase of the 2010 drill program has been forwarded to the operator, and drilling is anticipated to start shortly. The Clone gold prospect returned grades as high as 44.75 grams per tonne gold over 12.8 metres (announced in Stockwatch news dated Oct. 22, 2009). The Clone gold prospect is Canasia's flagship property.
Negar Adam, president of Canasia, stated: "Management and the vast majority of our shareholders have been waiting for this news. The Clone gold prospect is our single most important prospect, and based on the significant results we achieved last year, the most important prospect in terms of our future growth. The Clone prospect has a limited drill season based on its geographic location, therefore it can only be accessed during the summer months. Otherwise, the company would have continued to drill late in 2009 based on the significantly drill results achieved from the 2009 drill season. These results were the primary reason the shares rose from seven cents to a high of 41 cents, while trading more than 200 million shares in the second half of 2009. Management is optimistic regarding what the soon-to-commence 2010 drill program will provide."