Cayden drills 59 m of 2.2 g/t gold at El Barqueño

VANCOUVER, Oct. 16, 2013 /CNW/ - Cayden Resources Inc. (TSX.V:CYD) ("Cayden" or the "Company") is pleased to announce initial results from the ongoing 25 hole core drilling program at the El Barqueño Gold Property in Jalisco State, Mexico.



Drilling highlights include 59 meters of 2.2 g/t Au in hole 2, 20 meters of 4.26 g/t Au in hole 3 and 42 meters of 0.7 g/t Au with 0.51% Cu in hole 2. (See Table 1 below or www.caydenresources.com for significant intercepts)

The first 4 holes in the Azteca Zone have tested approximately 400 m of a 2.2 km strike length and have all successfully intersected gold mineralization in the primary Azteca structure. Holes 1 and 2 have also encountered two additional mineralized zones which have revealed the classic banded veining typical of a low sulfidation state epithermal system. A third Cu-rich zone, not indicated by previous work was encountered at depth. This third zone suggests that further, deeper drilling may be warranted as geological and technical understanding of the deeper zone evolves.

Table 1 - Drill results from the Azteca target area at El Barqueño

(BDD0001 = hole 1):

Hole ID Structure From    To     Width    Au (g/t)    Ag (g/t)    Cu (%)
BDD0001 Azteca A 27 51 24 0.72 2.3       0.04
BDD0001 Azteca B 73 86 13 0.68 1.5 0.04
BDD0001 Third Zone 135 170 35 0.41 10.9 0.63
               
BDD0002 Azteca A 48 107 59 2.20 6.2 0.13
Including Azteca A 51 53 2 16.70 16.7 0.02
Including Azteca B 65 66 1 20.90 17.5 0.10
BDD0002 Azteca B 118 136 18 1.92 7.2 0.21
Including Azteca B 129 130 1 21.70 8.1 0.13
BDD0002 Third Zone 153 195 42 0.70 15.6 0.51
               
BDD0003 Azteca A 9 29 20 4.26 6.2 0.06
including Azteca A 11 12 1 23.00 14.4 0.01
               
BDD0004 Azteca A 35 64 29 1.47 5.9 0.11

Drilling is ongoing, and assays are pending from multiple recent holes from the Azteca target area. In addition to drilling, Cayden is also continuing its trenching, mapping and surface programs throughout the Barqueño I concession as well as on the Barqueño II concession.

President and CEO Ivan Bebek states:  "We are very pleased with the initial results of our ongoing drill program and look forward to more exciting results. The first 4 holes have successfully confirmed the presence of significant gold mineralization in the original structure and have also identified two new structures suggesting that the system may be bigger than previously realized."

On Behalf of the Board, Ivan Bebek, President and CEO

Qualified Person - Qualified Person - David Hladky, P. Geo. is the Qualified Person with respect to NI 43-101 at Barqueno. All core is drilled at HQ or NQ 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, the dip of the Azteca A structure is not entirely known but is believed to be sub vertical based on mapping and historical work.  Holes 1, 2 and 4 have a dip of 45-50 degrees, and thus the true width of the Azteca A intercepts are estimated to be 60-80% of the true width.  Hole 3 dips at 75 degrees and thus the true width is estimated at 40-50%. The true width of the third zone is currently unknown.  Intercepts were calculated assuming a bulk-mining scenario, with a width cutoff of five meters and grade cutoff of 0.5 g/t Au for the Azteca A and B structures, i.e. no intercepts were reported that averaged less than 0.5 g/t Au. The intercepts have, at maximum, five consecutive meters less than 0.2 g/t at which time two intercepts were composited.   The third zone intercepts were calculated using Cu as the main element of interest.  A 0.5% Cu cutoff was used for the entire intercept, i.e., no intercepts were reported that averaged below 0.5% Cu.  The intercepts have, at maximum, five consecutive meters less than 0.2% Cu.

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

 

 

Image with caption: "Figure 1 - Azteca Drill Map (CNW Group/Cayden Resources Inc.)". Image available at: http://photos.newswire.ca/images/download/20131016_C4302_PHOTO_EN_32103.jpg

SOURCE: Cayden Resources Inc.

For further information:

Jay Adelaar
Manager of Investor Relations
Phone: 778.729.0600
Fax: 778.729.0650
Jay@caydenresources.com

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Cayden Resources Inc.

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