VANCOUVER, April 24, 2014 /PRNewswire/ - Cayden Resources
Inc. (TSX.V:CYD) ("Cayden" or the "Company") is
pleased to announce results for the first seven drill holes from
the Pena de Oro target at the
Company's El Barqueno Gold Property in Jalisco State,
Mexico.
Drilling highlights include 27 meters of 4.46 g/t Au
from surface in Hole 43 and 12 meters of 4.77 g/t Au in hole
47. All seven holes hit significant gold intercepts.
Please see Figure 1 below or www.caydenresources.com for a drill
location map.
The Company is currently drilling at Pena de Oro with 2 rigs and as a result of the success
of the current drill program and previous trenching at Pena de
Oro, an additional 4,000 meters of
drilling is planned for the target totaling approximately 6,000
meters in the Company's Phase 1 exploration drill program. There
are currently 10 additional holes in the lab for analysis.
Permitting efforts are ongoing throughout the El Barqueno
concessions to allow better access to multiple targets already
identified by the Company that are planned to be drilled over the
next 12 months.
Table 1 - Drill results from the Pena de Oro target at El Barqueño starting from
BDD00042 (hole 42):
Hole ID |
From |
To |
Width |
Au g/t |
Ag g/t |
Cu % |
BDD0042 |
0 |
23 |
23 |
1.48 |
1.5 |
0.1 |
BDD0043 |
0 |
27 |
27 |
4.46 |
1.7 |
0.09 |
BDD0044 |
40 |
51 |
11 |
1.98 |
3.2 |
0.38 |
BDD0045 |
40 |
62 |
22 |
0.79 |
1.9 |
0.22 |
BDD0046 |
20 |
35 |
15 |
2.29 |
Pending |
Pending |
BDD0047 |
81 |
93 |
12 |
4.77 |
Pending |
Pending |
BDD0048 |
12 |
18 |
6 |
1.66 |
Pending |
Pending
|
As a result of the considerable land position totaling over 460
square kilometers and the identification of large, mineralized vein
breccia and stockwork systems, the Company is undertaking a
two-phase drilling approach with each identified target. The
initial phase will focus on the exploration of multiple outcropping
mineralized targets with a goal of confirming surface/subsurface
mineralization and structure identification. A second phase will
focus on delineation drilling as well as further step-outs along
strike where the large vein systems are projected. President and
CEO Ivan Bebek states: "We are very
pleased with the initial results at Pena de Oro, our second of nine highly prospective
targets identified. The Azteca and Pena de Oro results indicate a great level of
consistency and growing predictability for the potential discovery
of higher-grade gold deposits from surface throughout the El
Barqueño concessions. The upcoming year will be exciting for Cayden
shareholders as the Company continues to aggressively explore and
drill multiple surface gold targets throughout El Barqueño".
Qualified Person - David
Hladky, P. Geo. is the Qualified Person with respect to NI
43-101 at Barqueño. All core from this release is drilled at HQ
diameter and is sawed or split into equal halves on site. 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. As the mapped mineralized corridors strike EW to
ENE, the drill holes were designed to have azimuths perpendicular
or close to perpendicular to the strike with the exception of
BDD0044, which was drilled obliquely to hit a target not accessible
from the permitted pad. As this is the first drill program by
Cayden, the dips of the structures are not entirely known but are
believed to dip steeply to moderately based on mapping and
historical work, and thus the true widths of the intercepts are
estimated to be 60-90% of the true width, with the exception of
BDD0044, which is probably 40% of trues widths. Intercepts were
calculated assuming a bulk-mining scenario. No intercepts
were reported that averaged less than 0.5 g/t Au (rounded) and no
intercepts have more than five consecutive meters of less than 0.2
g/t, or begin or end with values less than 0.2 g/t, excepting
BDD0045, where the intercept was extended to include high copper
values.
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"
and under CDKNF on the OTCQX Exchange.
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 which is available at www.sedar.com
SOURCE Cayden Resources Inc.
Image with caption: "Figure 1 - Drill Map of Pena De Oro Target
(CNW Group/Cayden Resources Inc.)". Image available at:
http://photos.newswire.ca/images/download/20140424_C4958_PHOTO_EN_39587.jpg