Friday, 23 March 2012

Cayden hits 18.3 metres of 119 g/t silver plus high grade zinc, lead at Quartz Mountain

Cayden Resources (CVE:CYD) unveiled positive drill results Friday from its Quartz Mountain property near Fallon, Nevada, US, sending shares up more than 2.6 percent.
The results are from eight step out holes that followed up on significant grades and widths of silver and base metal mineralization found in holes reported last month.
Highlights of the latest results included 18.3 metres of 119 grams per tonne (g/t) silver, 0.3 g/t gold, 0.32% copper, 2.73% zinc, and 1.89% lead in hole QM-0023.
In addition, hole QM-0017 returned 4.6 metres of 198 g/t silver, 0.97 g/t gold, 0.33% copper, 3.56% lead, and 1.45% zinc, while hole QM-0022 hit 10.6 metres of 96 g/t silver, 3.08% lead and 0.34% zinc.
"We are very pleased to see the continuation of higher grade mineralization at the Quartz Mountain San Rafael target and look forward to drilling some of the other large targets on the property later this year," said president and CEO, Ivan Bebek.
"With our ongoing aggressive programs at Morelos Sur and continued results out of Nevada, we expect 2012 to be a year that we could potentially deliver significant new discoveries on both our properties.
"We look forward to releasing further results from both exploration programs in the coming months."
The mineralized intercepts reported to date for the Nevada property hail from a total of 24 holes that have tested the Quartz Mountain mineralized system over an area of 350 by 150 metres.
The majority of holes encountered intercepts greater than 30 g/t silver, Cayden said, and in excess of 1% combined lead and zinc.
Cayden is now in the midst of finishing its phase one drill program and expects assays from four more holes in the coming weeks, after which time it will determine a geologic model for mineralization and design the next phase of drilling.
The company is also starting a soil-sampling program with a crew of two project geologists and four field assistants to test other areas of the property.
Many of these prospective areas include historic workings, which have returned high-grade precious and base metal values from dump grab samples that are interpreted to be coincident with geophysical anomalies and trends, the company said.
The Quartz Mountain project consists of an option with Vancouver based Railhead Resources, under which Cayden can earn either a 50 or 60 percent interest in three groups of Nevada silver-gold exploration properties.
The property is comprised of three claim groups for a total of 60 square kilometres.
Earlier this month, Cayden unveiled initial results from its drill program at the Las Calles target and its trench program at the La Magnetita and La Joya targets, each located on the Morelos Sur gold project, located in the Nukay mining district of central Guerrero State in southern Mexico.
Significant results at the Las Calles target included LCDD0093, which intersected 14.0 metres grading 4.2 grams per tonne (g/t) gold, including 2.0 metres at 16.0 g/t gold. The hole also intersected 6.5 metres grading 0.62 g/t gold.
Other notable results included LCDD0091, which returned 6.0 metres grading 0.69 g/t gold, and 5.0 metres grading 0.828 g/t gold.

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