VANCOUVER, March 28, 2014 /PRNewswire/ - Cayden Resources Inc. (TSXV: CYD) (OTCQX: CDKNF) ("Cayden" or the "Company") is pleased to announce that it has received the final drill results from its initial phase of drilling at Azteca and has added a second drill rig to its Peña de Oro drilling program.
Hole 41, the last hole drilled at Azteca, intersected 20 meters averaging 1.70 g/t Au and each of the last 4 holes intersected the targeted mineralized structures. Throughout the Azteca drilling, the structures appeared to have increasing copper grades at depth associated with chalcopyrite mineralization. Please see the plan map at www.caydenresources.com for drill hole locations.
|Hole ID||From m||To m||Width||Au g/t||Ag g/t||Cu %|
The Company is encouraged by the results of its initial drill program at Azteca which has confirmed the presence of significant gold mineralization along the portion of the target's strike length that was tested. There are several open targets remaining at Azteca that will be followed up in subsequent drill programs.
As a result of the success in Azteca drilling and numerous outcropping targets at El Barqueño, a second drill rig has been added to expedite and increase the ongoing exploration programs. The Company is currently drilling the Peña de Oro with both drills where previous trenching has yielded highly prospective widths and grades of gold mineralization. Once permits are received, one of the drills will be moved to the Angostura and Zapote targets to test additional outcropping mineralization previously discovered through surface trenches.
President and CEO, Ivan Bebek stated: "The El Barqueño project is at an exciting stage of exploration as a result of the significant surface gold mineralization confirmed through initial drilling in the Azteca target. There are currently 8 additional targets identified through surface exploration and historical work that share similar geological characteristics as seen at Azteca and which only represent approximately 60% of the total concession explored to date. The Company is in an excellent position financially to rapidly advance its exploration programs for the potential discovery of multiple gold deposits throughout the 465 sq. km land position."
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, 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 dips of the structures are not entirely known but are believed to dip steeply to moderately based on mapping and historical work, and thus the true widths of the intercepts are estimated to be 60-80% of the true width. Intercepts were calculated assuming a bulk-mining scenario, with a width cutoff of three meters and grade cutoff of 0.5 g/t Au or 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" and "CDKNF" on the OTCQX. 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.
SOURCE Cayden Resources Inc.
Image with caption: "Figure 1 - El Barqueño Drill Map (CNW Group/Cayden Resources Inc.)". Image available at: http://photos.newswire.ca/images/download/20140328_C7642_PHOTO_EN_38475.jpg