Mr. Ivan Bebek reports
CAYDEN SAMPLES 35 M OF 3.0 G/T GOLD AT EL BARQUEAPLUS OR MINUSO AND DISCOVERS TWO NEW ZONES OF MINERALIZATION
Cayden Resources Inc. has received additional high-grade trench results and discovered two large separate gold-in-soil anomalies on its El Barqueno property located in Jalisco state, Mexico.
The trenches were taken from the Azteca target area where Cayden sampled 35 metres of three grams per tonne gold (including five metres of 12.7 g/t Au) and nine metres of two g/t Au taken from trenches that are perpendicular to the Azteca mineralized trend (the 35 metres of three g/t Au trench is perpendicular to the trench of 91 metres of 2.9 g/t Au announced May 10, 2013). The results continue to show that gold occurs in the veins and wall rock, indicating the strong potential for bulk-minable epithermal deposits (visit the company's website to see the map).
TRENCH RESULTS FROM THE AZTECA AREA AT EL BARQUENO
Intercept Width Grade Open
(m) (g/t)
AZ012 35 3 Yes
Including 5 12.7 Yes
AZ16B 9 2.0 Yes
AZ16C 13 0.8 Yes
The company has also discovered two new target areas of gold mineralization resulting from its continuing soil program referred to as the Poncho and San Diego targets. The Poncho target, which has only been partially mapped, has a soil anomaly five kilometres in an east-west direction by approximately 1.5 kilometres in a north-south direction, and has resulted in gold-in-soil assays of up to 3.5 grams per tonne. The San Diego target area is three kilometres by 200 metres wide. The new target areas are parallel to the Azteca, Pena De Oro, trend and are open for further expansion; numerous soil samples are still pending.
The company is continuing its continuing surface programs on other areas of the El Barqueno concession and is beginning a reconnaissance mapping program at its newly acquired, highly prospective Barqueno II concession, located directly adjacent to the north.
"We have been very active on our El Barqueno concession and believe we are fortunate that we were able to acquire the prospective land around it. The surface results to date at El Barqueno have been exceptional in terms of grade, width and consistency of gold mineralization," stated Ivan Bebek, president and chief executive officer. "The results are very encouraging in terms of size potential that is indicated by the surface expression of the gold mineralization and possibility of multiple significant gold deposits."
Cayden has issued 650,000 stock options to various directors, employees and consultants with the majority going to Cayden's technical team. The team includes the addition of Dave Smithson who is a specialist in the structural mapping and interpretation of gold-bearing faults, hydrothermal alteration regimes and gold permissive stratigraphy. Mr. Smithson is formerly with Newmont Mining. The exercise price of the options is 90 cents, being the five-day volume-weighted average share price prior to the grant date.
David Hladky, PGeo, is the qualified person with respect to National Instrument 43-101 at El Barqueno. All trench intercepts were obtained from continuous channel sampling at one-metre intervals, primarily through excavated trenches. As the mapped mineralized corridors strike east-west to east-northeast, trenches were designed to intersect the mineralization as close to perpendicular as possible. It is believed that the trench intercepts represent 70 per cent to 100 per cent of the true width. Intercepts were calculated assuming a bulk mining scenario, with a width cut-off of five metres and grade cut-off of 0.5 g/t Au. The wider intercepts have, at maximum, five consecutive metres less than 0.2 g/t, at which time two intercepts were composited. Any intercepts that are bound by less than five metres of less than 0.2 g/t at the beginning and end of the trench length are considered open. Soil samples are taken from the B/C horizon on 25-metre centres on lines spaced 100 metres apart. All samples are assayed using standard 30-gram fire assay with atomic absorption finish by Acme Labs in Vancouver, Canada. Quality assurance/quality control programs using internal standard samples, field and lab duplicates, reassays, and blanks indicate good accuracy and precision in a large majority of standards assayed.
All samples are assayed using standard 30-gram fire assay with atomic absorption finish by Acme Labs in Vancouver, Canada. QA/QC programs using internal standard samples, field and lab duplicates, reassays, and blanks indicate good accuracy and precision in a large majority of standards assayed.