VANCOUVER, BRITISH COLUMBIA, Jul 10, 2012 (MARKETWIRE via COMTEX) — Cayden Resources Inc. /quotes/zigman/1554410 CA:CYD +5.71% (Cayden or the Company) is pleased to announce that it has received additional drilling results from its Las Calles target at the Morelos Sur Gold project, central Guerrero State, Mexico. The drilling highlights at Las Calles include 28.5 meters of 3.21 g/t Au including 10.8 m of 7.81 g/t Au, including 2 m of 26.3 g/t Au (LCDD0101), 7.7 m of 2.44 g/t Au (LCDD0096), and 39.3 m of 0.65 g/t Au (LCDD0102). The results occur in the same extremely fractured and iron oxide-rich diorite sill from which earlier significant results were previously reported (see NR dated March 5, 2012) as well as historical results reported by IMMSA, a subsidiary of Grupo Mexico (see 43-101 technical report filed on www.sedar.com ). The aggregate results indicate the potential for a deeper, lateral extension of the ore body currently being mined by a subsidiary of Goldcorp, at the adjacent Los Filos mine. At present, Las Calles mineralization is open in all directions. Drill hole locations are shown at www.caydenresources.com . Cayden is currently drilling at its La Magnetita target and expects to release results in the near future.
Table 1. New Intercepts from Las Calles Drilling
Hole_ID From To Width Au (g/t) Ag (g/t)
LCDD0096 195.1 202.8 7.7 2.44
LCDD0096 373.55 383.1 9.55 0.58 25
LCDD0097 275 283.15 8.15 0.72
LCDD0097 337.75 348.3 10.55 0.74 37.7
LCDD0100 136 143.8 7.8 0.68
LCDD0100 163 176.63 13.63 0.96
LCDD0101 254.3 282.8 28.5 3.21 84
LCDD0101 270.7 281.5 10.8 7.81 157
LCDD0101 278.8 280.8 2 26.3 197
LCDD0102 208.9 248.2 39.3 0.65
Cayden CEO Ivan Bebek commented: “We are very pleased with the consistency of the results that we are seeing from our Las Calles drilling which suggest the likely continuation of the Los Filos deposit into our ground. We are currently designing our next phase of drilling at Las Calles and are looking forward to initial drill results from our ongoing drilling at La Magnetita.”
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, 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. Intercepts were calculated using a minimum of a 0.2 g/t Au cut off at beginning and end of the intercept and allowing for no more than six consecutive samples (six meters) of less than 0.2 g/t Au. Based on the geometry of the mineralized sill, most of the true widths at Las Calles are believed to be at least 80% of the drilled widths.
On Behalf of the Board,
Ivan Bebek, President and CEO
About Cayden Resources
Cayden is a well financed junior mining company focused on delivering shareholder value through the acquisition, exploration and development of precious metal projects located throughout the Americas. 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, and 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
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Common Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.