VANCOUVER, BRITISH COLUMBIA–(Marketwire – Feb. 28, 2013) – Greg Myers, CEO and President of Caza Gold Corp. (TSX VENTURE:CZY)(OTCQX:CZGDF)(FRANKFURT:CZ6), announces results from the 2012 mapping and sampling program in the Balleza-Cienega area of the Moris Project in Chihuahua, Mexico. Several new gold and silver targets were identified, extending previously known low-grade bulk mineable zones and higher grade veins. Several new areas of vein stockworks, and disseminated gold mineralization were identified during the mapping program.
The Balleza zone, which was drilled in 2011, hosts low grade gold mineralization in a strongly silicified and stockwork veined dacitic dike and the overlying volcanic tuff and agglomerate. Mineralization occurs near the transition from the Lower Volcanic Series andesitic volcanics to the Upper Volcanic Series rhyolitic volcanics and is spatially related to dacitic dikes, very similar geologically to the Dolores Mine 80 km to the north. Mineralization with silicification has now been identified in outcrop over an area that is up to 1.4 kilometers (km) long and 350 meters (m) wide. The newly discovered Thalia zone at the southern end of the Balleza zone extends the previously known mineralization.
The 2011, drilling program completed 12 holes which tested a 300 m long portion of this 1400 m long zone and identified a flat-lying mineralized horizon which is approximately 100 m in true thickness beginning at the surface. This mineralized zone is up to 350 meters wide. The 300 m long zone, which was drill tested, potentially hosts 8 to 12 million tonnes based on drill assays, rectified geologic cross-sections, surface rock chip assays, and three dimensional modeling. Gold assays from the drill core ranged from 0.3 grams per tonne (gpt) gold up to 0.7 gpt gold using a nominal 0.1 gpt gold cutoff and included short intervals of waste. The simple weighted average of all drill holes above the 0.1 gpt cutoff is 0.52 gpt gold. Silver values are low overall in this area and range from 2 to 35 gpt. This geologic interpretation is not an NI 43-101 compliant reserve or resource. The potential quantity and grade is conceptual in nature and there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in the discovery of a mineral resource.
Follow this link to view maps, drill hole cross-sections, and tables of drilling and surface rock chip assay results: http://www.cazagold.com/projects/mexico/balleza/
In addition to the Balleza low grade zone, multiple gold and silver bearing vein targets have been mapped along the 7 km long, north-south trending, mineralized structure zone. The Cusi and Relampago areas just to the south of the Balleza zone contain zones of quartz veins, stockwork veins, and disseminated mineralization, which contain gold values from nil to 18.5 gpt and silver values which range from nil to 1,415 gpt. The Cusi stockwork zone is up to 400 meters wide and 2 km long and may extend or merge into the Balleza zone.
Additional mapping and trenching is planned for 2013, along the Relampago-Cusi-Virginia vein trend and along the Balleza-Thalia trend in order to further define the extent of mineralization and identify top priority drill targets for possible drilling in the Fall, subject to financing.
The southern portion of the 7 km long mineralized structural zone requires additional mapping to determine the extent and potential of multiple, narrow gold and silver bearing veins. Gold values from nil to 12.8 gpt and silver values ranging from nil to 2,390 gpt were sampled in the Raton de Oro, Candelaria, El Pinito, and San Pedro zones.
Caza continues to evaluate its high sulfidation gold properties and porphyry copper-gold targets in Nicaragua. The Company is preparing to initiate its 2013 exploration program focused on the Los Andes gold targets and the Piedra Iman gold-copper project in northern Nicaragua. Plans are to complete an airborne geophysical program followed by drill testing of coincident geophysical, geological, and geochemical anomalies, subject to financing.
Caza Gold Corp. (TSX VENTURE:CZY)(OTCQX:CZGDF)(FRANKFURT:CZ6) is a growth-oriented gold exploration company focused on discovering new gold deposits in Nicaragua and Mexico. The Company is one of the largest landholders in the highly prospective but largely undeveloped country of Nicaragua, and holds attractive properties in historic mining districts in the mineral-rich country of Mexico. Caza Gold Corp is dedicated to discovering gold, defining deposits, and developing value.
Greg Myers, Ph.D. P. Geo, CEO of the Company, is the Qualified Person who reviewed and approved the contents of this News Release.
CAZA GOLD CORP.
Greg Myers, President and CEO
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Certain statements contained herein constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are “forward-looking statements”. We caution you that such “forward-looking statements” involve known and unknown risks and uncertainties, as discussed in the Company’s filings with Canadian and United States securities agencies. The Company expressly disclaims any obligation to update any forward-looking statements other than as required by applicable law. We seek safe harbour.
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