Cayden Resources (CVE:CYD) Wednesday announced assay results from drilling completed at the Quartz Mountain property near Fallon, Nevada.
The company's program has been targeting an area of historic silver-lead-zinc production.
The 16 holes assayed to date, tested over 350 meters of strike length of the Quartz Mountain mineralized system with the majority encountering greater than 30 grams per tonne (g/t) silver and in excess of 1% combined lead and zinc.
Highlights include hole QM-0013 encountering 188 g/t silver, 5.3% zinc and 4.7% lead over 15.2 meters; hole QM-0015 returning 305.6 g/t silver, 4.42% zinc and 9.69% lead over 4.6 meters and hole QM-004 with 29.7 g/t silver, 2.32% zinc and 0.6% lead over 38.1 meters.
Cayden’s president and CEO Ivan Bebek said: "We are pleased with the initial results at Quartz Mountain and with the ongoing developments at Morelos Sur.
"2012 is going to be a very eventful year for Cayden, as the company will be aggressively exploring both our Morelos Sur and Quartz Mountain properties throughout the year. We expect to be delivering significant results from the exploration programs in the coming months."
In addition to the Quartz Mountain drilling, Cayden continues to drill the Las Calles prospect on its Morelos Sur gold property in Mexico while actively advancing its La Magnetita and La Joya target areas through trenching and surface sampling.
Initial results from the 2011 programs are expected shortly.
The Quartz Mountain project consists of an option with Vancouver-based Railhead Resources, a private resource explorer, under which Cayden can earn either a 50% or 60% interest in three groups of Nevada silver-gold exploration properties, which Railhead has the right to acquire from an underlying owner.
The property consists of three claim groups for a total of 60 square kilometers over which many small historical workings are present. Cayden and Railhead have performed soil, rock sampling, and geophysical surveys over other portions of the property and are currently in the process of refining multiple targets into a drill ready stage.
Cayden is a well financed junior mining company focused on delivering shareholder value through the acquisition, exploration and development of precious metal projects located throughout the Americas.