VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 25, 2013) – Cayden Resources Inc. (TSX VENTURE:CYD) (“Cayden” or the “Company“) is pleased to announce that it has received additional results from its ongoing exploration program at its El Barqueño property located in Jalisco State, Mexico. Highlights include 13 meters of 8.3 g/t Au, including 3 meters of 29.0 g/t Au, 11 meters of 4.7 g/t Au and 30 meters of 1.1 g/t Au.
The new samples are from additional trenches taken from the Azteca target area where two parallel fault zones contain abundant vein and stockwork-controlled mineralization. The Azteca target is one of the many areas on the property where wide zones of hydrothermal alteration and networked quartz veins occur at surface. The strike length of mineralization revealed by all the assayed trenches taken to date by Cayden is 1.4 kilometers and open in both directions. Assay results continue to reveal that gold occurs in the veins and wall rock, indicating the strong potential for a bulk mineable epithermal deposit. (See Figure 1 below or visit our website to see the map).
|Table 1. Trench results from the Azteca Area at El Barqueño|
Cayden has had the opportunity to sample approximately 35 trenches that have encountered significant mineralization. Half of the trenches sampled ended in mineralization and have the opportunity to be extended. At this point the reported widths of these trenches correlate to the bedrock accessibility for sampling rather than the full extent of mineralization. Several other target areas on the property that show similar hydrothermal alteration and networked quartz veins at surface have yet to be sampled.
Ivan Bebek, President and CEO commented, “The consistent high values of gold mineralization occurring on surface over an already impressive strike length indicates the potential for a substantial open-pit gold discovery in Mexico. This is an exciting time for Cayden shareholders as the Company is preparing for its initial 25 hole drill program at El Barqueño. Cayden is well positioned financially with adequate working capital to sustain its operations into 2015.”
David Hladky, P. Geo. is the Qualified Person with respect to NI 43-101 at El Barqueño. All trench intercepts were obtained from continuous channel sampling at one-meter intervals, primarily through excavated trenches. As the mapped mineralized corridors strike EW to ENE, trenches were designed to intersect the mineralization as close to perpendicular as possible. It is believed that the trench intercepts represent 70-100 percent of the true width. Intercepts were calculated assuming a bulk-mining scenario, with a width cutoff of five meters and grade cutoff of 0.5 g/t Au. The wider intercepts have, at maximum, five consecutive meters less than 0.2 g/t at which time two intercepts were composited. Any intercepts that are bound by less than five meters of less than 0.2 g/t at the beginning and end of the trench length are considered open.
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.
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 – El Barqueño Trench Map, please visit the following link: http://media3.marketwire.com/docs/cyd625-F1.pdf.