VANCOUVER, BRITISH COLUMBIA, Sep 17, 2012 (MARKETWIRE via COMTEX) — Cayden Resources Inc. /quotes/zigman/1554410CA:CYD-7.69% (“Cayden” or the “Company”) is pleased to announce that it has received additional soil and rock results from the eastern part of the La Magnetita gold anomaly located at the Morelos Sur project, Guerrero State, Mexico. These results have significantly increased the size of the +100 ppb Au-in-soil anomaly (now over 5.4 km X 5.4 km from a previous extent of 5.0 X 3.7 km). The large anomaly now shows an impressive 2km square area with mostly +0.5 g/t Au-in-soils (see map on website).
Cayden is continuing rock sampling, geologic mapping and road and trench building in this area as core drilling is expected to commence shortly. The limited reverse circulation (RC) drilling completed to date on the western side of the La Magnetita anomaly has not returned any significant results as of yet.
On the Company’s El Barqueno Project, Geotech Ltd. has been contracted to begin a VTEM airborne geological survey which will include magnetics, resistivity, and radiometric sensors. Surface exploration programs will be initiated in Q4, this will lead to an initial drill program expected to commence in early 2013.
Cayden’s President and CEO Ivan Bebek commented, “We are very impressed with not only the size of the La Magnetita East gold anomaly but even more with the significant area of the higher grades seen in the soils. We are also very eager to commence work on our El Barqueno project as the extensive outcropping epithermal veins are going to be exciting to explore.”
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 in North America. 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 .
Qualified Person
David Hladky, P. Geo. is the Qualified Person with respect to NI 43-101 at the Morelos Sur Gold project.
Quality Assurance and Control
All reverse circulation samples are collected and split directly at the drill rig and secured within a locked warehouse until collected by the assay lab. All samples are assayed for Au using standard 30-gram fire assay with atomic absorption finish. All other elements are analyzed using ICP techniques. Assaying is completed 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 0.1 g/t cut off at beginning and end of the intercept and allowing for no more than six consecutive samples (six meters) of less than 0.1 g/t Au. The Company has not yet determined the true width for each hole with significant assays, but based on geologic mapping and trenching, the true widths of the intercepts are believed to be at least 50% of the drilled widths. All soil samples are collected from C horizon soils, and are transported daily and stored in a locked warehouse until collected by the assay lab.
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.
To view the “La Magnetita Surface Program Map”, please visit the following link: http://media3.marketwire.com/docs/cayden1.pdf
Neither the TSX Venture Exchange nor any other regulatory authority accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Cayden Resources Inc.
778.729.0600
Toll Free: 800.863.8655
604.683.8194 (FAX)
[email protected]www.caydenresources.com
