VANCOUVER, Jan. 9, 2014 /CNW/ - Cayden Resources Inc.
(TSX.V:CYD) ("Cayden" or the "Company") is
pleased to announce results from the Company's ongoing core
drilling program at the El Barqueño Gold Property in Jalisco State,
Mexico.
Drilling highlights include 35.5 meters of 1.62 g/t Au, 214
g/t Ag, and 0.66 % Cu in hole 15, 18 meters of 3.38 g/t Au in hole
21 and 10 meters of 4.4 g/t Au in hole 24. Hole 25, the furthest
hole drilled in the northeast part of the Zapoteca structure, hit
three different intercepts of stock work mineralization including
27 meters of 1.16 g/t Au starting at surface.
The first 25 holes at the Azteca target area have tested
approximately 1.2 km of the 2.2 km interpreted strike length to
date. All the holes drilled in the Azteca target with the
exception of one hole have penetrated the mineralized structures
and have intersected significant gold mineralization.
Table 1 - Drill results from the Azteca target area at El
Barqueño (BDD0001 = hole 1):
Hole_ID |
From |
To |
Width |
Au (g/t) |
Ag (g/t) |
Cu % |
BDD0015* |
38 |
73.5 |
35.5 |
1.62 |
214 |
0.66 |
BDD0016 |
25 |
30 |
5 |
0.48 |
3.4 |
0.08 |
BDD0016 |
118 |
123 |
5 |
0.49 |
4.9 |
0.23 |
BDD0017 |
26 |
31 |
5 |
3.09 |
12 |
0.23 |
BDD0018 |
no significant
intercepts - hole abandoned before hitting Azteca fault |
BDD0019 |
no significant
intercepts - hole deviated into footwall of Azteca fault |
BDD0020 |
79 |
107 |
28 |
0.87 |
2.6 |
0.06 |
BDD0021 |
65 |
83 |
18 |
3.38 |
18.3 |
0.23 |
Including |
75 |
78 |
3 |
12.9 |
59.7 |
0.36 |
BDD0022 |
69 |
92 |
23 |
1.44 |
5.6 |
0.09 |
BDD0023 |
75 |
90 |
15 |
1.43 |
20.4 |
0.54 |
BDD0023 |
187 |
197 |
10 |
0.48 |
43.8 |
1.36 |
BDD0024 |
30 |
40 |
10 |
4.4 |
9.8 |
0.04 |
Including |
37 |
38 |
1 |
26 |
24.1 |
0.06 |
BDD0025 |
0 |
27 |
27 |
1.16 |
8.0 |
0.14 |
BDD0025 |
35 |
41 |
6 |
1.42 |
6.6 |
0.21 |
BDD0025 |
71 |
93 |
22 |
1.07 |
7.2 |
0.36 |
*Note: In Hole BDD0015 there was no recovery for the interval
48.53-51m (2.47m). To represent the width potential of the zone,
the interval was included in the calculation, however values of 0
(zero) were used for Au, Ag, and Cu.
Cayden has completed approximately 4500 meters of its 5000 meter
program with 3 holes currently pending assay. The Azteca results
received to date indicate that gold grades continue and copper
mineralization appears to increase at depth. The program has
confirmed the existence of multiple mineralized structures present
at Azteca, including some that were not previously identified by
the recent surface trenching programs.
President and CEO Ivan Bebek
states: "We are very pleased with the results to date from our
ongoing drill program at our Azteca target and are looking forward
to receiving additional results in the coming weeks. The results to
date provide additional evidence of the growing consistency and
predictability in the discovery of higher grade gold deposits that
start at surface. The upcoming year will be exciting for Cayden
shareholders as the company continues to drill and explore it's El
Barqueño Gold Property".
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. 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 (excepting the
intercept in BDD0015, where high Ag and Cu values occur throughout
the single intercept).
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: "El Barqueño Drill Results Map (CNW
Group/Cayden Resources Inc.)". Image available at:
http://photos.newswire.ca/images/download/20140109_C7798_PHOTO_EN_35413.jpg