VANCOUVER, March 6, 2014 /PRNewswire/ - Cayden Resources Inc. (TSX.V:CYD, OTCQX: CDKNF) ("Cayden" or the "Company") is pleased to announce that it has received drilling permits for the Peña de Oro target located within the companies 100% optioned El Barqueño Concessions in Jalisco State, Mexico where drilling will commence immediately.
The Peña de Oro target is the most advanced of the 8 targets that Cayden plans to drill in the next 18 months. The Company considers this target to be high priority based on the 2013 surface trenching results. The results of the surface exploration program confirmed and extended the strike length of the higher-grade gold mineralization to at least 900 meters, which remains open in both directions along strike and at depth.
"The Peña de Oro target is one of the most prospective targets on the El Barqueño concession due to the overall width and intensity of the hydrothermal alteration; the multiphase quartz-adularia-hematite veining, brecciation, and the extensive boiling-related textures. Some of the highest grades we have seen in trenches to date are from this target." stated Dan McCoy, Chief Geologist for Cayden Resources.
The initial phase of drilling at Peña de Oro will consist of approximately 5,000 meters in 25 holes. Cayden is waiting for additional permits to drill the Angostura and Zapote targets where the Company recently released prospective trench results (see news release dated February 4, 2014). In addition to these 4 targets, 5 additional targets are being advanced to a drill ready state through further surface sampling, trenching and road building. Cayden expects to commence resource delineation on at least 4 of 9 identified targets in 2015.
President and CEO, Ivan Bebek, stated " We are very excited to commence drilling at the Peña de Oro target as it has demonstrated some of the highest grade trenches on the property to date and has the potential for a second significant discovery on our El Barqueño concessions. We are also well into the process of obtaining additional permits which will allow us to conduct exploration in the multiple target areas yet to be fully drilled by our technical team".
On Behalf of the Board, Ivan Bebek, President and CEO
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.