VANCOUVER, BRITISH COLUMBIA — (Marketwired) — 08/12/13 — Cayden Resources Inc. (TSX VENTURE:CYD)(PINKSHEETS:CDKNF) (“Cayden” or the “Company”) announces the results from its thirteen hole core drilling program at the La Magnetita East target on its Morelos Sur Concession located in Guerrero State, Mexico (table below). Eleven of thirteen drill holes intercepted significantly anomalous skarn mineralization hosted in a contact zone between limestone and a large magnetic granodiorite stock (see Figure 1 for plan map, Figure 2 for cross-section, other anomalous intercepts are shown in Table 1).
The current program tested only a small section of the contact zone of one of two large granodiorite stocks which trend for another 2 km in a NNW direction. The program at La Magnetita was successful in finding significant intercepts of gold mineralization in a Guerrero Gold Belt geologic setting similar to that of the nearby Los Filos (Goldcorp) and Morelos (Torex) gold deposits.
Cayden director David M. Jones, M.Sc (Geo), who has over 20 years’ experience in the Guerrero Gold Belt and who is credited with the discovery of Goldcorp’s Los Filos deposit, commented, “The geologic setting and style of skarn alteration associated with the gold mineralization identified through this program is characteristic of what is typically seen in the Guerrero Gold Belt. The La Magnetita target is important owing to the similarity of its geologic, geochemical, and geophysical expression with that of the nearby deposits.”
The Company’s technical team will be designing a follow-up program to further test the granodiorite/ limestone contact at La Magnetita.
Table 1. Gold and Silver Mineralization Encountered in Cayden’s Core Holes at La Magnetita East Drilling:
HOLEID SAMPFROM SAMPTO WIDTH Au Ag
LCDD0133 312.2 319.1 7.7 0.26 13.1
LCDD0134 319.1 321.2 2.1 2.26 NS
LCDD0135 51.5 53.4 1.9 NS 447.0
LCDD0136 64.2 69.9 5.7 0.35 NS
LCDD0137 56.6 60.2 3.6 0.47 18.1
LCDD0137 87.0 91.0 4.0 0.35 NS
LCDD0138 160.96 162.44 1.5 0.60 43.5
LCDD0140 86.4 123.0 36.6 0.20 NS
LCDD0141 65.4 70.2 4.8 0.23 NS
LCDD0141 105.5 106.8 1.3 0.54 26.4
LCDD0141 131.0 143.4 12.5 1.14 11.7
LCDD0141 223.0 225.1 2.0 7.49 NS
LCDD0141 250.2 253.4 3.2 NS 881.0
(NS = not significantly anomalous)
Cayden CEO Ivan Bebek commented, “The La Magnetita skarn target is significant and clearly warrants a further concerted exploration effort. The drill results demonstrate the presence of gold mineralization and have only tested a small portion of a very large target. The Morelos Sur property is a great complement to our El Barqueno project where we have recently discovered impressive gold values on surface over an 8 km strike length.”
David Hladky, P. Geo. is the Qualified Person with respect to NI 43-101 at Morelos Sur. All core is drilled at HQ or NQ 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, Canada. 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. The Company has yet to determine the true width of mineralization for each hole.
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”. 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 are available at www.sedar.com.
To view Figure 1 – La Magnetita Plan Map, click here: http://media3.marketwire.com/docs/cyd1.jpg.
To view Figure 2 – La Magnetita Cross-Section, click here: http://media3.marketwire.com/docs/cyd2.jpg.