Thursday, 26 July 2012

Cayden hits 20 metres of high grade gold in new trench at La Magnetita

Cayden Resources (CVE:CYD) announced Thursday high grade gold in a new trench from its La Magnetita target at the Morelos Sur gold project in central Guerrero State, Mexico.

Highlights include 20 metres of 6.39 grams per tonne (g/t) gold, including 6 metres of 14.4 g/t gold.

Also, further along the trench, Cayden said it intercepted 27 metres of 0.48 g/t gold, and 17 metres of 0.62 g/t gold.

The intercepts are located in the western portion of the 7.3 square kilometre gold in soil anomaly outlined earlier this year.

Cayden has already begun drilling one of the western anomaly targets and is currently awaiting results, it said.

Additional trench samples from both the eastern and western anomaly targets have also been completed, with results pending as well.

"We continue to be very excited about these indications of high grade results from the La Magnetita trenches and we look forward to testing the depth extensions with our current drill program," said president and CEO, Ivan Bebek.

"While drilling the western portion of the La Magnetita anomaly we are completing extensive trenching and surface exploration on the eastern portion of the significant La Magnetita anomaly where we expect results shortly."

Earlier this month, the company said it received more than 2,000 additional results from its La Magnetita soil program, increasing the area of the gold-in-soil anomaly to over 7.3 square kilometres.

It was previously though the anomaly extended up to 5 km in an east-west direction.

In June, the first batch of trench assays from the La Magnetita prospect included 24 metres of 1.65 g/t gold, 25 metres of 0.72 g/t gold, and 25 metres of 0.52 g/t gold.    
Cayden currently has three projects located in Guerrero and Jalisco, Mexico, and Nevada, USA.

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