Cayden Discovers More High Grades in Trenches at El Barqueno, Extends Strike Length and Prepares to Commence Drilling
Marketwired
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 4, 2013) -
Editors Note: There are two figures associated with this press release.
Cayden Resources Inc. (TSX VENTURE:CYD)(CDKNF) ("Cayden" or the "Company") is pleased to announce additional results from its ongoing surface program on the El Barqueño Gold Property located in Jalisco State, Mexico.
The Peña de Oro target area trench highlights include 20 meters of 3.6 g/t Au, 8 meters of 7.9 g/t Au and 9 meters of 7.9 g/t Au. These new results extend the known mineralization in both directions along strike; to a total strike length of 800 meters (See Figure 1 below or website at www.caydenresources.com).
Table 1. Trench results from the Peña de Oro target area at El Barqueño:
Trench ID
Width (m)
Grade (g/t Au)
Notes
Trench ID
Width (m)
Grade (g/t Au)
Notes
PO001C
8
0.6
PO025
25
1.7
open
PO003B
5
1
open
including
1
10.7
open
PO008
10
1.8
open
PO026
8
1
open
PO013
8
0.7
open
PO030A
3
12.1
open
PO019
8
2.1
open
PO030B
3
5.4
open
PO020A
7
2
open
including
1
15.7
open
PO020B
20
3.6
open
PO032
7
0.5
open
including
1
25.4
open
PO039A
9
7.9
open
PO023
5
0.7
open
PO039A
3
18.3
open
PO024
8
7.9
open
PO039B
11
1
oblique
PO049
13
1.4
open
At the Azteca target area, Cayden has trenched 4 meters of 41.6 g/t Au including 2 meters of 74.2 g/t Au in a new discovery to the northeast of the current known surface mineralization. With these latest results, the strike length of the Azteca target area has been extended from 1.4 km to 2.2 km (See Figure 2 below or website at www.caydenresources.com). The samples were taken using hand-dug trenches on limited outcropping (following up on soil and grab sample anomalies - see NR dated July 18, 2013). The highest gold values came from rocks containing massive iron oxide, including specular hematite accompanied by lesser amounts of banded quartz veining.
Table 2. Trench results from the Azteca target area at El Barqueño:
Trench ID
Width (m)
Grade (g/t Au)
Notes
Trench ID
Width (m)
Grade (g/t Au)
Notes
ZP001
2
2.2
open
ZP005
4
41.6
open
ZP004
5
1.6
open
including
2
74.2
open
The majority of trenches in both target areas end in mineralization. Cayden is currently extending these trenches and expanding the scope of the rest of the surface exploration program throughout the concessions.
The initial drill program is scheduled to start on Tuesday, September 10th and will consist of 5,000 meters that will be drilled on and around the Azteca target area. The initial program will consist of approximately 25 holes at an overall average depth of 200 meters.
Ivan Bebek, President and CEO commented, "We are excited to start our initial drill program at the Azteca target area next week where we have encountered extensive gold mineralization at surface in the past 9 months. We are also very pleased with the fact that we are still continuing to add strike length to our existing targets and finding new gold targets throughout the concessions."
David Hladky, P. Geo. is the Qualified Person with respect to NI 43-101 at El Barqueño. All trench intercepts were obtained from continuous channel sampling at 0.75 to 1.5 meter intervals, primarily through road cuts and trenches excavated by previous operators. As the mapped mineralized corridors strike EW to ENE, the trenches and road cuts intersect the mineralization as close to perpendicular as possible. Thus, the Company believes that the trench intercepts represent 70-100 percent of the true width except where noted. Intercepts were calculated assuming a bulk-mining scenario, with a width cutoff of five meters and grade cutoff of 0.5 g/t Au. The wider intercepts have, at maximum, five consecutive meters less than 0.2 g/t at which time two intercepts were composited. Any intercepts that are bound by less than five meters of less than 0.2 g/t at the beginning and end of the trench length are considered open. All samples are assayed using standard 30 gram fire assay with atomic absorption finish by Acme Labs in Vancouver, Ca. QA/QC programs using internal standard samples, field and lab duplicates, re-assays, and blanks indicate good accuracy and precision in a large majority of standards assayed. On Behalf of the Board, Ivan Bebek, President and CEO.
About Cayden Resources - Cayden is a junior mining company focused on delivering shareholder value through the acquisition, exploration and development of precious metal projects in Mexico. The management team at Cayden is highly experienced with an impressive track record of success in the discovery, development and financing of mineral projects. Cayden is also strongly committed to the highest standards for environmental management, social responsibility, health and safety for its employees and neighboring communities. Cayden trades on the TSX Venture Exchange under the symbol "CYD". For more information on Cayden Resources, please visit our website at www.caydenresources.com.
Forward Looking and other Cautionary Information - Neither the TSX Venture Exchange nor any other regulatory authority accepts responsibility for the adequacy or accuracy of this release. This release includes certain statements that may be deemed "forward-looking statements". Forward-looking information is information that includes implied future performance and/or forecast information including information relating to, or associated with, exploration and or development of mineral properties. These statements or graphical information involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different (either positively or negatively) from any future results, performance or achievements expressed or implied by such forward-looking statements. Investors should review the Company's AIF are available at www.sedar.com.
