VANCOUVER, Dec. 2, 2013 /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 16 meters of 5.89 g/t Au (including 2 meters of 38.05 g/t Au) in hole 14, 10 meters of 5.88 g/t Au in hole 10 and 20 meters of 1.79 g/t hole 13. (See Table 1 below or www.caydenresources.com for significant intercepts).
The first 14 holes at the Azteca target area have tested approximately 1 km of a 2.2 km of strike length and all but one hole have successfully intersected 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 (%)|
Cayden has completed approximately 3500 meters of its ongoing 5000 meter program with 8 holes currently pending assay. The Azteca results received to date indicate that gold grades continue at depth where drill holes have also encountered increasing copper grades. The drilling has discovered additional mineralized structures that were not originally identified by the recently completed surface trenching programs. Additional holes will target down dip and in opposing directions (scissor holes) in order to further define the geometry of the mineralized structures.
The company has also been conducting trenching in multiple new target areas identified through surface mapping and soil sampling programs, results from these programs will be released shortly.
President and CEO Ivan Bebek states: "We are very pleased with the results to date from our ongoing drill program at El Barqueño and we are looking forward to receiving additional results in the coming weeks. We are continuing to see more evidence for the discovery of multiple, shallow higher grade gold deposits throughout the El Barqueño concessions."
On Behalf of the Board, Ivan Bebek, President and CEO
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 for the Azteca, Zapoteca and Azteca 2 structures. No intercepts were reported that averaged less than 0.5 g/t Au. The intercepts have no more than five consecutive meters of less than 0.2 g/t, at which time two intercepts are composited. The El Cobre intercepts were calculated using Cu as the main element of interest. A 0.45% Cu cutoff was used for the entire intercept. No intercepts were reported that averaged below 0.5% Cu. The intercepts have no more than five consecutive meters of 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 which is available at www.sedar.com
Image with caption: "Figure 1 - El Barqueño Drill Results Map (CNW Group/Cayden Resources Inc.)". Image available at: http://photos.newswire.ca/images/download/20131202_C6655_PHOTO_EN_34165.jpg
SOURCE: Cayden Resources Inc.
For further information:
Ivan Bebek, President, CEO and Director