The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Marketwire

Cayden Samples 21 m of 8.3 g/t Gold at El Barqueno

Monday, June 03, 2013

Cayden Samples 21 m of 8.3 g/t Gold at El Barqueno

07:00 EDT Monday, June 03, 2013

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 3, 2013) - Cayden Resources Inc. (TSX VENTURE:CYD) ("Cayden" or the "Company") is pleased to announce that it has received additional results from ongoing trenching programs at its El Barqueño property located in Jalisco State, Mexico. Highlights include: 21 meters of 8.3 g/t Au, including 4 meters of 20.3 g/t Au; 54 meters of 1.1 g/t Au; and 13 meters of 2.4 g/t Au.

The trenches were taken from the Azteca target area where two parallel fault zones contained abundant vein and stockwork-controlled mineralization. The Azteca target area 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 the assayed trenches is 1.4 kilometers and the system is 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.
Intercept
Width
(m)
Grade
(g/t)
Open
Intercept
Width
(m)
Grade
(g/t)
Open
AZ2-1 5 2.5 AZ2-10 11 1.3
AZ2-2 24 1.5 AZ2-11 13 2.3 Yes
incl. 1 11.2 incl. 1 16.9
AZ2-4 21 8.3 Yes AZ2-12 13 2.4 Yes
incl. 4 20.3 Z-4a 54 1.1 Yes
and 1 16.5 Z-4b 12 1.6
and 1 22.2 incl. 1 11.2

Geological mapping and sampling programs are underway in several other target areas on the property where the same type of hydrothermal alteration and networked quartz veins occur at surface. Cayden plans to commence an initial 25-hole diamond drill program this summer at the Azteca target area.

Ivan Bebek, President and CEO commented, "These trench results are very impressive as they continue to indicate strength and continuity of the gold system in one of several target areas that we are exploring. We feel that the El Barqueño property represents a significant opportunity for the discovery of a district scale, bulk mineable gold system."

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 samples greater than 10 g/t Au are noted in the intercept table.

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

This 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 press release, please visit the following link: http://media3.marketwire.com/docs/Fig1_877913.pdf.

FOR FURTHER INFORMATION PLEASE CONTACT:

Neither the TSX Venture Exchange nor any other regulatory authority accepts responsibility for the adequacy or accuracy of this release.

Contact Information:
Cayden Resources Inc.
Ivan Bebek
President and CEO
778-729-0600 or Toll Free 800-863-8655
604-683-8194 (FAX)
info@caydenresources.com
www.caydenresources.com

Products
  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

GlobeLink.ca

Your number one partner for reaching Canada's Influential Achievers. learn more

The Globe at your Workplace
Our Company
Customer Service
Globe Recognition
Mobile Apps
NEWS APP
INVESTING APP
Other Sections