VANCOUVER,
March 28, 2014 /CNW/ - Cayden
Resources Inc. (TSXV: CYD) (OTCQX: CDKNF) ("Cayden" or
the "Company") is pleased to announce that it has received
the final drill results from its initial phase of drilling at
Azteca and has added a second drill rig to its Peña de Oro drilling program.
Hole 41, the last hole drilled at Azteca, intersected 20 meters
averaging 1.70 g/t Au and each of the last 4 holes intersected the
targeted mineralized structures. Throughout the Azteca drilling,
the structures appeared to have increasing copper grades at depth
associated with chalcopyrite mineralization. Please see the plan
map at www.caydenresources.com for drill hole locations.
Hole ID |
From m |
To m |
Width |
Au g/t |
Ag g/t |
Cu % |
BDD0038 |
72 |
82 |
10 |
0.43 |
11.4 |
0.24 |
BDD0039 |
49 |
53 |
4 |
0.04 |
14.0 |
0.99 |
BDD0040 |
4 |
7 |
3 |
0.82 |
5.3 |
0.09 |
BDD0041 |
8 |
28 |
20 |
1.70 |
14.6 |
0.17 |
BDD0041 |
115 |
149 |
34 |
0.21 |
4.1 |
0.26 |
BDD0041 |
163 |
169 |
6 |
0.18 |
14.8 |
0.50 |
The Company is encouraged by the results of its initial drill
program at Azteca which has confirmed the presence of significant
gold mineralization along the portion of the target's strike length
that was tested. There are several open targets remaining at Azteca
that will be followed up in subsequent drill programs.
As a result of the success in Azteca drilling and numerous
outcropping targets at El Barqueño, a second drill rig has been
added to expedite and increase the ongoing exploration programs.
The Company is currently drilling the Peña de Oro with both drills where previous trenching
has yielded highly prospective widths and grades of gold
mineralization. Once permits are received, one of the drills will
be moved to the Angostura and Zapote targets to test additional
outcropping mineralization previously discovered through surface
trenches.
President and CEO, Ivan Bebek
stated: "The El Barqueño project is at an exciting stage of
exploration as a result of the significant surface gold
mineralization confirmed through initial drilling in the Azteca
target. There are currently 8 additional targets identified
through surface exploration and historical work that share similar
geological characteristics as seen at Azteca and which only
represent approximately 60% of the total concession explored to
date. The Company is in an excellent position financially to
rapidly advance its exploration programs for the potential
discovery of multiple gold deposits throughout the 465 sq. km land
position."
On Behalf of the Board, Ivan
Bebek, President and CEO
Qualified Person - David
Hladky, P. Geo. is the Qualified Person with respect to NI
43-101 at Barqueño. All core is drilled at HQ diameter and is sawed
or split into equal halves on site. 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. As the mapped mineralized
corridors strike EW to ENE, the drill holes were designed to have
azimuths perpendicular or close to perpendicular to the
strike. As this is the first drill program by Cayden, the
dips of the structures are not entirely known but are believed to
dip steeply to moderately based on mapping and historical work, and
thus the true widths of the intercepts are estimated to be 60-80%
of the true width. Intercepts were calculated assuming a
bulk-mining scenario, with a width cutoff of three meters and grade
cutoff of 0.5 g/t Au or 0.2% Cu.
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 "CDKNF" on the OTCQX. 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 at www.sedar.com.
SOURCE Cayden Resources Inc.
Image with caption: "Figure 1 - El Barqueño Drill Map (CNW
Group/Cayden Resources Inc.)". Image available at:
http://photos.newswire.ca/images/download/20140328_C7642_PHOTO_EN_38475.jpg