VANCOUVER, Feb. 26, 2014 /CNW/ - Cayden Resources Inc.
(TSX.V:CYD) ("Cayden" or the "Company") is
pleased to announce results from the Company's ongoing Phase 1 core
drilling program at its 100% optioned El Barqueño Gold Project in
Jalisco State, Mexico.
Drilling highlights include 44 meters of
2.34 g/t Au in hole 37 and 23 meters of 2.43 g/t Au in hole 28.
These holes extend the prospective mineralization previously
encountered in holes 3 and 4 (please see attached map and table
below).
The first 37 of 41 holes at the Azteca target area have tested
approximately 1.2 km of the 2.2 km prospective strike length to
date with a maximum true depth of 200 meters. All the holes drilled
in the Azteca target, with the exception of two holes, have
penetrated the mineralized structures and have intersected
significant gold mineralization.
Table 1 - Drill results from the Azteca target area at El
Barqueño (BDD00037 = hole 37):
HOLE |
From |
To |
Width (m) |
Au (g/t) |
Ag (g/t) |
Cu % |
BDD0026 |
50 |
61 |
11 |
0.48 |
2.9 |
0.02 |
BDD0026 |
75 |
79 |
4 |
2.4 |
7.2 |
0.23 |
BDD0027 |
102 |
110 |
8 |
0.51 |
7.2 |
0.11 |
BDD0028 |
59 |
82 |
23 |
2.43 |
3.5 |
0.03 |
BDD0029 |
24 |
34 |
10 |
1.23 |
4.2 |
0.09 |
BDD0029 |
112 |
119.5 |
7.5 |
0.84 |
5.4 |
0.14 |
BDD0030 |
18 |
25 |
7 |
0.81 |
2.0 |
0.15 |
BDD0031 |
70 |
90 |
20 |
0.53 |
7.5 |
0.45 |
BDD0032 |
no significant intercepts |
|
|
|
BDD0033 |
40 |
52 |
12 |
2.02 |
6.2 |
0.08 |
BDD0034 |
55 |
58 |
3 |
3.89 |
4.3 |
0.04 |
BDD0034 |
75 |
90 |
15 |
1.36 |
5.8 |
0.10 |
BDD0035 |
46 |
52 |
6 |
2.84 |
4.7 |
0.06 |
BDD0036 |
31 |
39 |
8 |
0.75 |
6.2 |
0.15 |
BDD0037 |
44 |
88 |
44 |
2.34 |
11.1 |
0.15 |
Cayden has completed its Phase 1 drilling program at the Azteca
target with a total of 41 holes drilled totaling 6,336 meters, 4
holes are currently pending assay. The Azteca drill results
received to date indicate continuous mineralization throughout
multiple structures along with several areas that contain
significantly larger widths and grades at fault intersections. The
Azteca target remains open along strike in both directions and at
depth; a second phase of drilling is being designed to expand
drilling along the projected strike length and will commence once
permits are received.
The Company is moving the drill to its Pena d'Oro target where Cayden's technical team has
had the opportunity to discover some exceptional surface results
which include trenches both within historic workings and beyond
them along strike (see news release from August 22nd, 2013).
Ivan Bebek, President and CEO
commented: "We are very pleased with the results to date from the
Phase 1 drill program at our Azteca target and look forward to a
second phase program which we believe will considerably expand the
mineralization along strike and at depth. We are also excited to
begin an initial drill program at the Peña d'Oro target that will commence shortly. In the
past six months, our technical team has done an exceptional job of
exploring just over half of the three El Barqueño concessions
primarily at surface with the exception of drilling at the Azteca
target. The results of the exploration and the interpretation of
the geology is starting to reveal district scale exploration
potential with a pipeline of 8 additional outcropping targets."
Cayden will be attending the PDAC Mining Convention in
Toronto, Ontario and will have two
booths for Session A (Sunday March 2
and Monday March 3), Booth #2421A is
in the Investor Exchange and Booth #5001 is located inside the Core
Shack. President and CEO, Ivan Bebek
will also be giving a 15 minute presentation on Exploration and
Development on Tuesday, March 4 at
10:20am in room 803AB. We welcome
anyone registered for the PDAC or in Toronto to please come and join us.
Qualified Person - David
Hladky, P. Geo. is the Qualified Person with respect to NI
43-101 at Barqueño. All core 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, BC. 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, the dips of the
mineralized structures are not entirely known. However, based on
mapping and previous drilling, all intercepts released herein are
believed to be 60-100% of true width. Intercepts are calculated
assuming a bulk-mining scenario, with a width cutoff of 5 meters
and grade cutoff of 0.5 g/t Au (intercepts of 3-4 meters width are
also stated if they exceed 5 m * Au g/t grade widths). 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.
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 which is available at www.sedar.com.
SOURCE Cayden Resources Inc.
Image with caption: "Figure 1 - El Barqueño Drill Map (CNW
Group/Cayden Resources Inc.)". Image available at:
http://photos.newswire.ca/images/download/20140226_C7371_PHOTO_EN_37149.jpg