VANCOUVER, BRITISH COLUMBIA–(Marketwired – July 18, 2013) – Cayden Resources Inc. (TSX VENTURE:CYD)(PINKSHEETS:CDKNF) (“Cayden” or the “Company“) is pleased to announce that it has received additional high-grade trench results and discovered two large separate gold in soil anomalies on its El Barqueño property located in Jalisco State, Mexico.
The trenches were taken from the Azteca target area where Cayden sampled 35 meters of 3.0 g/t Au (including 5 meters of 12.7 g/t Au) and 9 meters of 2.0 g/t Au taken from trenches that are perpendicular to the Azteca mineralized trend (the 35 meters of 3.0 g/t Au trench is perpendicular to the trench of 91 meters of 2.9 g/t Au announced May 10th, 2013). The results continue to show that gold occurs in the veins and wall rock, indicating the strong potential for bulk mineable epithermal deposits (See Figure 1 below or visit our website to see the map).
Table 1 – Trench results from the Azteca Area at El Barqueño:
|Intercept||Width (m)||Grade (g/t)||Open|
The Company has also discovered two new target areas of gold mineralization resulting from its ongoing soil program referred to as the Poncho and San Diego targets. The Poncho target, which has only been partially mapped has a soil anomaly 5 km in an EW direction, by approximately 1.5 km in a NS direction and has resulted in gold-in-soil assays of up to 3.5 g/t. The San Diego target area is 3km by 200m wide. The new target areas are parallel to the Azteca, Pena De Oro trend and are open for further expansion, numerous soil samples are still pending.
The Company is continuing it’s ongoing surface programs on other areas of the El Barqueño concession and is beginning a reconnaissance-mapping program at its newly acquired, highly prospective Barqueño II concession, located directly adjacent to the north.
“We have been very active on our El Barqueño Concession and believe we are fortunate that we were able to acquire the prospective land around it. The surface results to date at El Barqueño have been exceptional in terms of grade, width and consistency of gold mineralization,” stated Ivan Bebek, President and CEO, “The results are very encouraging in terms of size potential that is indicated by the surface expression of the gold mineralization and possibility of multiple significant gold deposits.”
Cayden has issued 650,000 stock options to various directors, employees and consultants with the majority going to Cayden’s technical team. The team includes the addition of Dave Smithson who is a specialist in the structural mapping and interpretation of gold bearing faults, hydrothermal alteration regimes, and gold permissive stratigraphy. Dave is formerly with Newmont Mining. The exercise price of the options is $0.90 being the 5-day volume weighted average share price prior to the grant date.
To view Figures 1 and 2, click on the following link: http://media3.marketwire.com/docs/c718m.pdf
On Behalf of the Board, Ivan Bebek, President and CEO
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. Soil samples are taken from the B/C horizon on 25 meter centers on lines spaced 100 meters apart. 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.
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”. 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.