VANCOUVER, June 26, 2014 /PRNewswire/ – Cayden Resources Inc. (tsx.v:CYD)(otcqx:CDKNF) (“Cayden ” or the ” Company “) is pleased to announce results for 11 additional drill holes from the Pena de Oro target (“Pena”) at the Company’s El Barqueno Gold Property in Jalisco State, Mexico. Highlights include 45 meters of 4.06 g/t Au with 0.39% Cu in hole 76, 19 meters of 4.98 g/t Au with 0.26% Cu in hole 80, 20 meters of 2.58 g/t Au with 0.36% Cu in hole 73 and 30 meters of 1.70 g/t Au with 0.88% Cu in hole 78.
Table 1 New Drill results from the Pena de Oro target at El Barqueno:
|Hole ID||From||To||Width||Au (g/t)||Ag (g/t)||Cu %|
The 41 holes released to date at Pena de Oro have only partially tested one of three mineralized structures identified within the target area. These results have increased the maximum vertical depth tested to 200 meters; the structure remains open at depth and along strike in both directions. Once additional permits are received (currently in process), an aggressive second phase of drilling will target the open strike length and depth extensions throughout the Pena de Oro area. (Please see Figure 1 below orwww.caydenresources.com for a drill location map and Figure 2 / 3 for a cross-section)
Cayden is now drilling its initial exploration holes at the Angostura target. Once completed, the drill will move to the Zapote target.
The El Barqueno concessions contain multiple, strong, widespread mineralized systems, some with kilometers of strike length. In preparation for an expansive exploration drill program planned for this fall, CSAMT and gradient array geophysical programs are currently underway over the Azteca, Pena de Oro, Zapote and Angostura target areas.
President and CEO Ivan Bebek states: “Pena de Oro has delivered the highest gram-meter intercept to date, demonstrating what the mineralized systems at El Barqueno are capable of delivering. We have a lot more to explore in all of our targets and are looking forward to an exciting year of aggressive exploration in what we believe is becoming a major gold and copper discovery.”
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 and/or 0.2% Cu, or begin or end with values less than 0.2 g/t and/or 0.2% Cu.
SOURCE Cayden Resources Inc.