"CAYDEN RECEIVES DRILL PERMITS FOR THE PENA DE ORO GOLD TARGET AND COMMENCES DRILLING
Cayden Resources Inc. has received drilling permits for the Pena de Oro target located within the company's 100-per-cent optioned El Barqueno concessions in Jalisco state, Mexico, where drilling will commence immediately.
The PeAplus or minusa de Oro target is the most advanced of the 8 targets that Cayden plans to drill in the next 18 months. The Company considers this target to be high priority based on the 2013 surface trenching results. The results of the surface exploration program confirmed and extended the strike length of the higher-grade gold mineralization to at least 900 meters, which remains open in both directions along strike and at depth.
"The PeAplus or minusa de Oro target is one of the most prospective targets on the El BarqueAplus or minuso concession due to the overall width and intensity of the hydrothermal alteration; the multiphase quartz-adularia-hematite veining, brecciation, and the extensive boiling-related textures. Some of the highest grades we have seen in trenches to date are from this target." stated Dan McCoy, Chief Geologist for Cayden Resources.
The initial phase of drilling at PeAplus or minusa de Oro will consist of approximately 5,000 meters in 25 holes. Cayden is waiting for additional permits to drill the Angostura and Zapote targets where the Company recently released prospective trench results (see news release dated February 4, 2014). In addition to these 4 targets, 5 additional targets are being advanced to a drill ready state through further surface sampling, trenching and road building. Cayden expects to commence resource delineation on at least 4 of 9 identified targets in 2015.
President and CEO, Ivan Bebek, stated " We are very excited to commence drilling at the PeAplus or minusa de Oro target as it has demonstrated some of the highest grade trenches on the property to date and has the potential for a second significant discovery on our El BarqueAplus or minuso concessions. We are also well into the process of obtaining additional permits which will allow us to conduct exploration in the multiple target areas yet to be fully drilled by our technical team".