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 %|
|BDD0018||no significant intercepts - hole abandoned before hitting Azteca fault|
|BDD0019||no significant intercepts - hole deviated into footwall of Azteca fault|
*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
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
SOURCE: Cayden Resources Inc.
For further information:
Ivan Bebek, President, CEO and Director