The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Marketwire

Cayden Identifies Significant Gold in Soil Anomaly at La Magnetita

Wednesday, May 16, 2012

Cayden Identifies Significant Gold in Soil Anomaly at La Magnetita08:00 EDT Wednesday, May 16, 2012VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 16, 2012) -Cayden Resources Inc. (TSX VENTURE:CYD) ("Cayden" or the "Company") is pleased to announce that it has now received over 1,200 assays from its La Magnetita and La Joya soil program (see website for map) which indicate an extensive gold anomalous area that is up to 5 km in an EW direction by 2 km in a NS direction. the soil anomaly strongly suggests that the La Magnetita and La Joya targets are part of the same very large hydrothermal system. Cayden is currently planning a drill program in the western portion of the La Magnetita anomaly where the most extensive surface work has been completed. There are presently over 2,000 meters of trench samples in the assay lab and the Company is creating a detailed geologic map from outcrop and trench exposures that it will use to refine drill targets. The Company anticipates drilling a minimum of 6,000 meters by reverse circulation once all the trench assays have been received. Cayden's President and CEO, Ivan Bebek, states: "We are very impressed with the extent of the gold in soil anomaly. We now see what appears to be a hydrothermal system at La Magnetita, rather than the two previously described as La Magnetita and La Joya. The extensive surface work done to date, which coincides with the large magnetic anomaly previously revealed by airborne geophysics, strongly enhances the odds of discovering a very large gold deposit in this prolific area. We are planning to commence our drill program in May once we receive the outstanding trench results. Cayden is continuing to drill at Las Calles and expects to release more results from there in the near future."David Hladky, P. Geo., is the Qualified Person with respect to NI 43-101 at Morelos Sur. Soil samples are taken 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. On Behalf of the Board, Ivan Bebek, President and CEOAbout 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 the USA and 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, 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.Forward Looking and other Cautionary InformationThis 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 Figure associated with this release, visit: http://media3.marketwire.com/docs/cyd516_Fig1.pdf.FOR FURTHER INFORMATION PLEASE CONTACT: Ivan BebekCayden Resources Inc.President and CEO778.729.0600 or Toll Free 800.863.8655604.683.8194 (FAX)info@caydenresources.comwww.caydenresources.comNeither the TSX Venture Exchange nor any other regulatory authority accepts responsibility for the adequacy or accuracy of this release.