Tuesday, 10 July 2012

Cayden Resources encounters 3.21 g/t gold over 28.5 meters at Las Calles

Cayden Resources (CVE:CYD) said Tuesday it has received additional drilling results from its Las Calles target at the Morelos Sur Gold project in central Guerrero State, Mexico.

Results include 3.21 grams per tonne (g/t) gold over 28.5 metres.

The company said that the latest results from its Las Calles target "indicate the potential for a deeper, lateral extension of the ore body" currently being mined by a subsidiary of Goldcorp (TSE:G) at the adjacent Los Filos mine.

At present, Cayden said that Las Calles mineralization is open in all directions, and the results reported Tuesday occur in the same extremely fractured and iron oxide-rich diorite sill from which earlier significant results were previously reported.

Highlights from the recent results include 10.8 metres of 7.81 g/t gold, including 2 metres of 26.3 g/t gold in hole LCDD0101; 7.7 metres of 2.44 g/t gold in hole LCDD0096; and 39.3 metres of 0.65 g/t gold in hole LCDD0102.

"We are very pleased with the consistency of the results that we are seeing from our Las Calles drilling which suggest the likely continuation of the Los Filos deposit into our ground," said Cayden's CEO Ivan Bebek. 

"We are currently designing our next phase of from our ongoing drilling at La Magnetita drilling at Las Calles and are looking forward to initial drill results."

The company said it expects to release results from ongoing drilling at its La Magnetita target in the near future.

Cayden is a junior mining company focused on the acquisition, exploration and development of precious metal projects located throughout the Americas.

Earlier this month, the company announced that it increased the area of its La Magnetita soil program over 7.3 square kilometres.

The geochemical, and over 100 parts per billion (ppb) anomaly also remains open in most directions, the company said.

The new soils revealed extensive areas that have "highly elevated gold values", Cayden noted, including north-south trending gold values of more than 500 ppb, with strike lengths of up to 1.6 kilometres.

This area is still open to the east and south, Cayden added.

The gold explorer is now drilling these areas of anomalous gold-in-soil and trenches in the western portion of the La Magnetita
target, and is starting additional trenching and road building in the eastern area.

The company is also continuing to extend its soil program in the directions where the anomaly remains open.

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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