VANCOUVER, June 6, 2014 /CNW/ – Cayden Resources Inc. (TSX.V:CYD, OTCQX:CDKNF) (“Cayden” or the “Company“) is pleased to announce that it has received results from its ongoing surface exploration program at the company’s El Barqueno gold property in Jalisco State, Mexico. The channel and grab samples were taken from exposed bedrock in the Poncho East and newly identified Azteca North target areas.
The bedrock channel samples at Poncho East are highly anomalous in gold with assay results as high as 120 g/t Au. These results were collected along a mineralized trend representing 800 meters of strike length that is open in both directions. Poncho East is our largest untested target which is 5.8 square kilometers in size where our technical team has mapped extensive epithermal veining coincident with anomalous soils and a large geophysical anomaly. The samples were taken from exposed creek outcrops and around historical workings (please see Figure 1 below orcaydenresources.com for location and results map).
Cayden has received channel samples from parallel mineralized structures that lie to the northwest of the Azteca target area where the Company completed a successful drill program earlier this year. The new area, named Azteca North, has exposed mineralization as a result of historic trenches and road cuts where mineralized rock outcrops occur. Highlights from this sampling program include 12 meters of 1.87 g/t Au, 7 meters of 2.54 g/t Au and 3 m of 2.67 g/t Au (please see Figure 2 below or caydenresources.com for location and results map).
Cayden has recently obtained an additional permit that enables the Company to commence initial drilling of theAngostura and Zapote targets where additional permits are in process that will provide further access to Pena de Oro,Angostura and the Zapote target areas. The Company is also undertaking an MIA permit application that will allow complete road and drill site access to 8 of Cayden’s 9 high priority targets.
The company has drilled a total of 41 holes at Pena de Oro with only 16 released to date, several results are pending and will be released once received.
Ivan Bebek, President and CEO commented, “The Barqueno gold system is impressive both in grade of gold being discovered from surface and also the potential volume of mineralization occurring throughout the targets tested to date. We are looking forward to the pending results from our current drill program as well as receiving additional permits that are in process.”
David Hladky, P. Geo. is the Qualified Person with respect to NI 43-101 at El Barqueño. All channel intercepts were obtained from continuous channel sampling at one-meter intervals, through road cuts, trenches and bench cuts excavated by previous operators, and from outcrops. The Company attempted to channel sample in a NS to NW direction: as the mapped mineralized corridors strike EW to ENE, the Company believes that the trench intercepts represent 70-100 percent of the true width. The channel samples are designated on the figures in meter lengths. Grab samples are of outcrop and do not have a fixed size. 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.
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 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 atwww.sedar.com
Layne, A Granite Company, provides sustainable solutions for water resources and mineral exploration. Originally established in 1882, Layne offers a rich history of delivering safe, professional, and reliable water and minerals solutions throughout North and South America. Granite acquired Layne and its subsidiaries in the fall of 2018, to further Granite’s strategy to grow through acquisition and diverse end market expansion.
The promotion and dissemination as essential elements to understand and disseminate our Mineral resources, that is why today it is pleased to make the document “Mining Panorama” available to society, by state.
GeoInfoMex, is the consultation system of the Mexican Geological Service that allows users to know geoscientific information and make decisions with savings in time and resources, helping to promote mining activity.
The DOF is the organ of the Constitutional Government of the United Mexican States, which has the function of publishing in the national territory, to so that they are properly observed and applied in their respective areas of competence.