VANCOUVER, June 11, 2014 /CNW/ - Cayden Resources Inc. (TSX.V:CYD) ("Cayden" or the "Company") is pleased to announce results for 14 additional drill holes from the Pena de Oro target ( "Pena") at the Company's El Barqueno Gold Property in Jalisco State, Mexico. Highlights include 54 meters of 1.36 g/t Au with 0.52% Cu in hole 72 and 68 meters of 0.91 g/t Au with 0.27% Cu in hole 65.
Table 1 – New Drill results from the Peña de Oro target at El Barqueño:
| Hole ID |
From |
To |
Width |
Gold (g/t) |
Ag (g/t) |
Cu (%) |
| BDD0058 |
76 |
109 |
33 |
0.36 |
3.8 |
0.4 |
| BDD0058 |
118 |
154 |
36 |
0.79 |
4.7 |
0.5 |
| BDD0059 |
98 |
128 |
30 |
1.48 |
2 |
0.18 |
| including |
123 |
124 |
1 |
21.6 |
13.7 |
0.95 |
| BDD0060 |
0 |
28 |
28 |
1.17 |
1.3 |
0.09 |
| including |
21 |
22 |
1 |
11.6 |
3.2 |
0.02 |
| BDD0061 |
69 |
82 |
13 |
0.24 |
4 |
0.41 |
| BDD0061 |
98 |
100 |
2 |
0.68 |
4.4 |
0.53 |
| BDD0061 |
106 |
156 |
50 |
0.57 |
4.7 |
0.55 |
| BDD0062 |
12 |
27 |
15 |
0.84 |
0.8 |
0.07 |
| BDD0063 |
56 |
75 |
19 |
1.4 |
2.9 |
0.26 |
| BDD0064 |
0 |
24 |
24 |
0.66 |
2.2 |
0.02 |
| BDD0065 |
10 |
78 |
68 |
0.91 |
3.1 |
0.27 |
| including |
50 |
51 |
1 |
17.6 |
26 |
1.89 |
| BDD0067 |
12 |
14 |
2 |
3.63 |
7.3 |
0.85 |
| BDD0067 |
29 |
35 |
6 |
0.33 |
3.3 |
0.41 |
| BDD0067 |
49 |
66 |
17 |
2.66 |
5.3 |
0.58 |
| including |
53 |
55 |
2 |
13.7 |
12.3 |
1.08 |
| BDD0068 |
7 |
23 |
16 |
0.24 |
0.9 |
0.29 |
| BDD0068 |
29 |
47 |
18 |
1.07 |
1.4 |
0.03 |
| BDD0068 |
53 |
62 |
9 |
0.21 |
5.6 |
0.22 |
| BDD0068 |
82 |
95 |
13 |
0.08 |
4.2 |
0.21 |
| BDD0069 |
14 |
18 |
4 |
0.48 |
1.9 |
0.25 |
| BDD0069 |
27 |
70 |
43 |
0.95 |
3.5 |
0.47 |
| including |
56 |
57 |
1 |
11.2 |
10.7 |
1.16 |
| BDD0069 |
84 |
94 |
10 |
0.17 |
4 |
0.43 |
| BDD0070 |
0 |
23 |
23 |
1.54 |
2.1 |
0.12 |
| including |
9 |
10 |
1 |
10.5 |
3.2 |
0.03 |
| BDD0070 |
106 |
108 |
2 |
0.88 |
3.6 |
0.53 |
| BDD0071 |
92 |
122 |
30 |
0.73 |
3.5 |
0.31 |
| BDD0072 |
41 |
46 |
5 |
0.72 |
4 |
0.58 |
| BDD0072 |
61 |
115 |
54 |
1.36 |
5 |
0.52 |
The results at Pena increase the strike length of mineralization to over 500 meters and the maximum vertical depth tested is 110 meters. The brecciation and width of mineralization appears to be increasing to the west and at depth. The extent of this mineralization will be tested when additional permits are received. The Pena structure remains open in all directions. Only one of three mineralized structures recently identified by mapping and geophysics has been partially drilled. (Please see Figure 1 below or www.caydenresources.com for a drill location map and Figures 2 to see the cross-section)
There are 11 additional holes pending assay from the initial Pena drill program and an extensive second phase of drilling will take place later in the year. The drill has been moved to the Angostura target where drilling has commenced and once an initial phase of drilling is complete, the rig will be moved to the Zapote target area. The Company is planning to expand its exploration and drill programs considerably once it receives additional permits that are anticipated in Q3 and Q4 of this year.
President and CEO Ivan Bebek states: "The El Barqueno project continues to deliver impressive grade and widths of mineralization throughout multiple identified targets which are being tested from surface. We believe that Cayden has the potential to discover a new gold-copper district in a highly favorable jurisdiction in Mexico. The second half of this year will be exciting for shareholders as we plan to advance and drill some of our highest priority targets."
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 as close to perpendicular to the strike as the permitted pads would allow. As this is the first drill program by Cayden at Peña 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.
Image with caption: "Figure 1 - Pena de Oro Drill Results Map (CNW Group/Cayden Resources Inc.)". Image available at: http://photos.newswire.ca/images/download/20140611_C2137_PHOTO_EN_3600.jpg
Image with caption: "Figure 2 - Pena de Oro Cross Section (CNW Group/Cayden Resources Inc.)". Image available at: http://photos.newswire.ca/images/download/20140611_C2137_PHOTO_EN_3601.jpg
SOURCE: Cayden Resources Inc.
Ivan Bebek, President, CEO and Director, Phone: 778.729.0600
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