VANCOUVER, May 14, 2014 /CNW/ - Cayden Resources Inc. (TSX.V:CYD) ("Cayden" or the "Company") is pleased to announce results for 9 additional drill holes from the Pena de Oro target at the Company's El Barqueno Gold Property in Jalisco State, Mexico. Drilling highlights include 26 meters of 2.35 g/t Au in Hole 50, 30 meters of 1.61 g/t Au in Hole 49, 38 meters of 1.47 g/t Au and 0.67% Cu in hole 52, and 70 meters of 0.80 g/t Au and 0.49% Cu in hole 54.
The results increase the strike length of mineralization to over 400 meters and the maximum vertical depth reached is 110 meters at Pena de Oro. Mineralization encountered by drilling is limited by existing permits to targeting only one of three mineralized structures that have recently been identified by mapping and geophysics. The drilled structure strikes approximately 75 degrees east, dips south and is open along strike in both directions and at depth. The amount and thickness of brecciation and mineralization appears to be increasing to the east and at depth as suggested by the thicker intercept in hole 54. (Please see Figure 1 below or www.caydenresources.com for a drill location map)
Table 1 - New Drill results from the Peña de Oro target at El Barqueno
|Hole ID|| From
|Au (g/t)||Ag (g/t)||Cu %|
Drilling is ongoing and there are 13 more completed holes pending assay. Once additional permits are received, the Company will move one of the two drill rigs to the Angostura target and then to the Zapote target. Surface exploration programs are advancing several additional targets that have yet to be drilled within the concessions.
The Company is also working on an environmental impact assessment that will allow Cayden to build trenches, roads and drill over the majority of its concessions without having to continually apply for permits, such as those currently pending on numerous targets.
President and CEO Ivan Bebek states: "We are very pleased with the increased widths and consistency of mineralization seen in the additional drill results at our Pena de Oro target and look forward to further pending results. The El Barqueno Gold Property has and continues to generate impressive results from surface exploration, drilling and preliminary metallurgical work. We believe we have an excellent opportunity to discover a significant open pit gold-mining district throughout our large land position, located in one of the more favorable mining jurisdictions in Mexico."
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 close to perpendicular to the strike. As this is the first drill program by Cayden at Pena 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 -Drill map of Pena de Oro Target (CNW Group/Cayden Resources Inc.)". Image available at: http://photos.newswire.ca/images/download/20140514_C8267_PHOTO_EN_40281.jpg
SOURCE: Cayden Resources Inc.
For further information:
Ivan Bebek, President, CEO and Director