Marketwire
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 22, 2013) - Cayden Resources Inc. (TSX VENTURE:CYD)(PINKSHEETS:CDKNF) ("Cayden" or the "Company") is pleased to announce that it has received additional results from its ongoing exploration program at its El Barqueño property located in Jalisco State, Mexico. The trenches are the first taken by the Company from the Peña de Oro target area, seven km northeast along strike, from the Azteca area where recent trenches have been announced. Highlights include 29 meters of 3.1 g/t Au including 2 meters of 19.2 g/t Au, 13 meters of 2.4 g/t Au, and 8 meters of 14.7 g/t Au including 2.5 meters of 44.1 g/t Au.
The majority of the trenches occur from an ENE oriented zone of massive vein, stockwork veining, and silicification that have been exposed through historical workings. The Peña de Oro target area measures over 750 meters long by 200 meters wide and is open down dip and along strike. The highest-grade assays came from Trench 22, which cut across a newly mapped vein southwest of the previous workings (See Figure 1 below or website www.caydenresources.com).
| Table 1. Trench results from the Peña de Oro area at El Barqueño: |
| Intercept |
Width
(m) |
Grade
(g/t) |
Open |
|
Intercept |
Width
(m) |
Grade
(g/t) |
Open |
| PO-001A |
23 |
1.0 |
|
|
PO-011 |
6 |
1.3 |
Yes |
| PO-001B |
28 |
1.0 |
|
|
PO-012 |
3 |
4.4 |
Yes |
| PO-003 |
10 |
1.8 |
Yes |
|
PO-014 |
13 |
2.4 |
|
| PO-004 |
9 |
1.2 |
Yes |
|
PO-018 |
13 |
2.4 |
Yes |
| PO-005 |
26 |
0.8 |
Yes |
|
PO-022 |
8 |
14.7 |
Yes |
| PO-006 |
29 |
3.1 |
Yes |
|
Incl. |
2.5 |
44.1 |
|
| Incl. |
10 |
7.5 |
|
|
|
|
|
|
| with |
2 |
19.2 |
|
|
|
|
|
|
The majority of the trenches sampled ended in mineralization. The extensions of these trenches are being sampled in addition to new trenches in the Peña de Oro target area. As stated in previous press releases several other target areas on the Property show similar hydrothermal alteration and networked quartz veins at surface and have yet to be sampled.
Cayden is also pleased to announce that it has received a drill permit for 143 holes, in and around the Azteca portion of its El Barqueño concession where drilling will commence as soon as the driller arrives. Cayden is also applying for additional drill permits for other prospective areas that contain gold mineralization on El Barqueño while it simultaneously brings the El Barqueño II property to drill ready stage.
Ivan Bebek, President and CEO commented, "We are very pleased to see the grade and widths of gold mineralization in our first Peña de Oro trenches. The results are similar to our Azteca target area, and importantly, seven kilometers away along strike. This is an exciting time for our shareholders as we are about to commence our first drill program at the highly prospective Azteca target area where we have released a series of recent significant trench intercepts in the past six months."
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 0.75 to 1.5 meter intervals, primarily through road cuts and trenches excavated by previous operators. As the mapped mineralized corridors strike EW to ENE, the trenches and road cuts intersect the mineralization as close to perpendicular as possible. Thus, the Company believes 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 intercepts that are bound by less than five meters of less than 0.2 g/t at the beginning and end of the trench length are considered open.
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 - 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 are available at www.sedar.com
To view Figure 1 - Peña de Oro Trench Map, please visit the following link: http://media3.marketwire.com/docs/cyd822-F1.pdf.