Cayden Resources (CVE:CYD) Wednesday identified "significant gold" in a soil anomaly at its La Magnetita deposit at its Morelos Sur Project in Mexico.
exploration company has now received over 1,200 assays from its La
Magnetita and La Joya soil program which indicate an extensive gold
anomalous area that is up to 5 km in an East-West direction by 2 km in a
"We are very impressed with the extent
of the gold in soil anomaly. We now see what appears to be a
hydrothermal system at La Magnetita, rather than the two previously
described as La Magnetita and La Joya, Cayden's president and CEO Ivan
"The extensive surface work done to date, which
coincides with the large magnetic anomaly previously revealed by
airborne geophysics, strongly enhances the odds of discovering a very
large gold deposit in this prolific area.
"We are planning to
commence our drill program in May once we receive the outstanding trench
results. Cayden is continuing to drill at Las Calles and expects to
release more results from there in the near future."
the soil anomaly strongly suggests that the La Magnetita and La Joya
targets are part of the same very large hydrothermal system. Cayden is
currently planning a drill program in the western portion of the La
Magnetita anomaly where the most extensive surface work has been
There are presently over 2,000 meters of trench
samples in the assay lab and the company is creating a detailed geologic
map from outcrop and trench exposures that it will use to refine drill
Cayden anticipates drilling a minimum of 6,000 meters by reverse circulation once all the trench assays have been received.