VANCOUVER, May 14, 2014 /PRNewswire/ - Cayden Resources
Inc. (TSX.V:CYD) ("Cayden" or the "Company") is
pleased to announce results for 9 additional drill holes from the
Pena de Oro target at the Company's El Barqueno Gold
Property in Jalisco State, Mexico.
Drilling highlights include
26 meters of 2.35 g/t Au in Hole 50, 30 meters of 1.61 g/t Au in
Hole 49, 38 meters of 1.47 g/t Au and 0.67% Cu in hole 52, and 70
meters of 0.80 g/t Au and 0.49% Cu in hole 54.
The results increase the strike length of mineralization to over
400 meters and the maximum vertical depth reached is 110 meters at
Pena de Oro. Mineralization encountered by drilling is
limited by existing permits to targeting only one of three
mineralized structures that have recently been identified by
mapping and geophysics. The drilled structure strikes approximately
75 degrees east, dips south and is open along strike in both
directions and at depth. The amount and thickness of brecciation
and mineralization appears to be increasing to the east and at
depth as suggested by the thicker intercept in hole 54. (Please see
Figure 1 below or www.caydenresources.com for a drill location
map)
Table 1 - New Drill results from the Peña de Oro target at El Barqueno
| Hole ID |
From
(m) |
To
(m) |
Width
(m) |
Au (g/t) |
Ag (g/t) |
Cu % |
| BDD0049 |
9 |
39 |
30 |
1.61 |
3.9 |
0.12 |
| BDD0049 |
50 |
60 |
10 |
0.44 |
3.8 |
0.25 |
| BDD0050 |
55 |
81 |
26 |
2.35 |
31.8 |
0.18 |
| including |
59 |
61 |
2 |
20 |
7.9 |
0.05 |
| including |
80 |
81 |
1 |
0.27 |
771 |
0.86 |
| BDD0051 |
39 |
48 |
9 |
0.86 |
0.9 |
0.07 |
| BDD0052 |
77 |
115 |
38 |
1.47 |
3.2 |
0.67 |
| including |
101 |
102 |
1 |
21 |
22.9 |
2.03 |
| BDD0052 |
122 |
134 |
12 |
1.06 |
3.9 |
0.3 |
| BDD0053 |
38 |
40 |
2 |
2.5 |
1.15 |
0.09 |
| BDD0053 |
55 |
78 |
23 |
0.42 |
1.7 |
0.2 |
| BDD0054 |
86 |
156 |
70 |
0.8 |
4.3 |
0.49 |
| BDD0055 |
53 |
59 |
6 |
0.51 |
1.4 |
0.12 |
| BDD0055 |
72 |
85 |
13 |
1.49 |
1.6 |
0.13 |
| BDD0056 |
37 |
70 |
33 |
0.55 |
2.2 |
0.12 |
| BDD0057 |
17 |
20 |
3 |
1.71 |
1.3 |
0.03 |
| BDD0057 |
31 |
56 |
25 |
1.05 |
2.5 |
0.11 |
Drilling is ongoing and there are 13 more completed holes
pending assay. Once additional permits are received, the Company
will move one of the two drill rigs to the Angostura target and
then to the Zapote target. Surface exploration programs are
advancing several additional targets that have yet to be drilled
within the concessions.
The Company is also working on an environmental impact
assessment that will allow Cayden to build trenches, roads and
drill over the majority of its concessions without having to
continually apply for permits, such as those currently pending on
numerous targets.
President and CEO Ivan Bebek
states: "We are very pleased with the increased widths and
consistency of mineralization seen in the additional drill results
at our Pena de Oro target and look forward to further pending
results. The El Barqueno Gold Property has and continues to
generate impressive results from surface exploration, drilling and
preliminary metallurgical work. We believe we have an excellent
opportunity to discover a significant open pit gold-mining district
throughout our large land position, located in one of the more
favorable mining jurisdictions in Mexico."
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
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. As this is the first drill
program by Cayden at Pena de
Oro, the dips of the main
structure are not entirely known but are believed to dip steeply to
moderately to the south based on mapping and historical work, and
thus the intercepts are estimated to represent 60-90% of the true
width. Intercepts were calculated assuming a bulk-mining scenario.
No intercepts were reported that averaged less than 0.5 g/t Au
and/or 0.2 % Cu and no intercepts have more than six consecutive
meters of less than 0.2 g/t and/or 0.2% Cu, or begin or end with
values less than 0.2 g/t and/or 0.2% Cu.
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/20140514_C8267_PHOTO_EN_40281.jpg