VANCOUVER, July 7, 2014 /CNW/ - Cayden Resources Inc. (TSX.V:CYD) ("Cayden" or the "Company") is pleased to announce initial drill results from Angostura, the third of nine priority targets that the Company is drilling at its El Barqueno Gold project. Highlights include 12 meters of 4.60 g/t Au including 2.0 meters of 21.45 g/t Au in hole 85 and 13 meters of 1.54 g/t Au in hole 83.
Table 1 – New Drill results from the Angostura target at El Barqueno:
| Hole ID |
From |
To |
Width |
Au (g/t) |
Ag (g/t) |
Cu % |
| BDD0083 |
7 |
20 |
13 |
1.54 |
11.9 |
0.08 |
| BDD0084 |
Results Pending |
|||||
| BDD0085 |
1 |
13 |
12 |
4.60 |
10.1 |
0.10 |
| Including |
1 |
3 |
2 |
21.45 |
20.0 |
0.05 |
| BDD0086 |
Results Pending |
|||||
| BDD0087 |
Results Pending |
|||||
| BDD0088 |
No Significant Intercepts – Hole Lost In Fault Zone |
|||||
The initial phase of drilling at Angostura, which is a parallel structure 1km NW of the Azteca target, confirms the presence of significant mineralization beneath the previously sampled trenches. With these holes, Cayden has successfully tested approximately 50 meters of the 500 meters of strike length of mineralized veins and stockwork mapped so far at the Angostura target. There are currently 7 holes pending assays.
Drilling at Barqueno in the past 10 months has repeatedly confirmed that the radiometric potassic alteration anomalies identified through geophysics and surface trenches correlate with significant subsurface mineralization. (Please see Figure 1 below or www.caydenresources.com for a drill location map and Figure 2 for a cross-section).
Cayden is also pleased to announce new trench results from Pena de Oro. Highlights include of 8.0 m of 2.27 g/t Au in Trench PO059, 8.0 m of 1.85 g/t Au in Trench PO065 and 23 m of 0.78 g/t Au in Trench PO057.
See table:
| Trench ID |
From |
To |
Width |
Au (g/t) |
Ag (g/t) |
Cu % |
| PO050 |
4 |
5 |
1 |
1.13 |
2.3 |
0.08 |
| PO051 |
4 |
8 |
4 |
0.53 |
1.8 |
0.13 |
| PO052B |
4 |
5 |
1 |
5.24 |
3.4 |
0.04 |
| PO053 |
1 |
6 |
5 |
0.75 |
0.8 |
0.02 |
| PO054 |
0 |
2 |
2 |
0.97 |
1.2 |
0.17 |
| PO056 |
0 |
3 |
3 |
1.10 |
2.2 |
0.04 |
| PO056 |
0 |
3 |
3 |
0.76 |
0.8 |
0.02 |
| PO056 |
11 |
25 |
14 |
0.54 |
0.4 |
0.02 |
| PO056 |
38 |
40 |
2 |
0.64 |
0.3 |
0.02 |
| PO056 |
44 |
48 |
4 |
0.56 |
0.2 |
0.02 |
| PO056 |
60 |
62 |
2 |
0.56 |
0.3 |
0.01 |
| PO057 |
2 |
25 |
23 |
0.78 |
0.5 |
0.01 |
| PO058 |
46 |
50 |
4 |
0.53 |
0.8 |
0.02 |
| PO059 |
1 |
2 |
1 |
1.92 |
0.4 |
0.01 |
| PO059 |
14 |
22 |
8 |
2.27 |
0.9 |
0.01 |
| PO062 |
0 |
11 |
11 |
0.72 |
0.8 |
Ins. |
| PO063 |
7 |
11 |
4 |
1.33 |
0.7 |
0.03 |
| PO064 |
2 |
4 |
2 |
1.54 |
1.5 |
0.01 |
| PO065 |
5 |
13 |
8 |
1.85 |
0.7 |
0.03 |
| PO066 |
6 |
20 |
12 |
0.95 |
1.2 |
0.01 |
| PO070 |
2 |
3 |
1 |
0.77 |
1.4 |
0.06 |
| PO073 |
25 |
26 |
1 |
0.50 |
1.4 |
0.02 |
| PO075 |
10 |
11 |
1 |
0.54 |
6.6 |
0.05 |
| PO080 |
3 |
12 |
9 |
0.50 |
0.8 |
0.02 |
These trenches were taken in an area NW of the drilled area at Pena de Oro located on a parallel structure (see June 26th news release). The trenches were taken from partially exposed pyroclastic rocks outcropping through an overlying tuff and silica unit running adjacent to the previously drilled mineralization. Cayden geologists consider the underlying pyroclastic unit to be a more prospective host rock than the unit tested and expect mineralization to intensify with depth. The trenches are a positive indication that parallel zones of mineralization could add considerable width to the mineralized area already identified through drilling (Please see Figure 3 below or www.caydenresources.com for a trench location map).
The Company plans to add a drill to this target as soon as it receives the next round of permits expected this summer.
President and CEO Ivan Bebek states: "The initial Angostura drill results indicate the start of a third potential significant gold discovery at our El Barqueno property. The latest round of trenches at Pena de Oro indicate that this target could be much larger then originally anticipated."
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, 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 drill core from this release is drilled at PQ3 or HQ3 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 as close to perpendicular to the strike as the permitted pads would allow. As this is the first drill program by Cayden at Peña 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 Au and/or 0.2% Cu, or begin or end with values less than 0.2 g/t Au and/or 0.2% Cu.
Image with caption: "Figure 1 - Angostura Drill Results Map (CNW Group/Cayden Resources Inc.)". Image available at: http://photos.newswire.ca/images/download/20140707_C3335_PHOTO_EN_4129.jpg
Image with caption: "Figure 2 - Angostura A-A Cross Section (CNW Group/Cayden Resources Inc.)". Image available at: http://photos.newswire.ca/images/download/20140707_C3335_PHOTO_EN_4130.jpg
Image with caption: "Figure 3 - Peña de Oro Trench Results Map (CNW Group/Cayden Resources Inc.)". Image available at: http://photos.newswire.ca/images/download/20140707_C3335_PHOTO_EN_4131.jpg
SOURCE: Cayden Resources Inc.
Ivan Bebek, President, CEO and Director, Phone: 778.729.0600, Toll: 800.863.3655, [email protected], www.caydenresources.com
Share this article