VANCOUVER, BRITISH COLUMBIA, Jul 04, 2012 (MARKETWIRE via COMTEX) — Cayden Resources Inc. /quotes/zigman/1554410 CA:CYD +2.68% (“Cayden” or the “Company”) is pleased to announce that it has received over 2000 additional assays from its La Magnetita soil program (see website for map). These assays increase the area of the +100 ppb (parts per billion) gold-in-soil geochemical anomaly with the size now in excess of 7.3 square kilometers and still open in most directions. The new soils reveal extensive areas that have highly elevated gold values, including north-south trending higher-grade +500 ppb gold values with strike lengths of up to 1.6 kilometers. These higher-grade anomalies are coincident with north-south intrusive dikes, extensive iron oxide-quartz alteration and veining within the limestone. These anomalies, taken together, reveal an area over 1.5 square kilometers where gold-in-soil averages +500 ppb, and is still open to the east and south.
In the western anomalies where Cayden is currently drilling, Cayden geologists took a grab sample assaying more than 27 g/t Au, consisting of magnetite skarn, in an area where Cayden has soils exceeding 1 g/t Au. Cayden is currently drilling the areas of anomalous gold-in-soil and trenches in the western portion of the La Magnetita target and is commencing additional trenching and road building in the eastern portion of the target. The Company is also continuing to extend its soil program in the directions where the anomaly remains open. Cayden expects to release additional assays from its Las Calles drilling shortly, with the La Magnetita drill results to be released later this summer.
Cayden’s President and CEO Ivan Bebek states: “We continue to be impressed with the size and strength of the La Magnetita hydrothermal system. As we complete more surface exploration, the target areas are consistently growing. We believe that we have an excellent chance of discovering a significant gold deposit with our drilling programs.”
David Hladky, P. Geo. is the Qualified Person with respect to NI 43-101 at Morelos Sur. Soil samples are taken on 25 meter centers on lines spaced 100 meters apart. All samples are assayed using standard 30 gram fire assay with atomic absorption finish by Acme Labs in Vancouver, Ca. QA/QC programs using internal standard samples, field and lab duplicates, re-assays, and blanks indicate good accuracy and precision in a large majority of standards assayed.
On Behalf of the Board,
Ivan Bebek, President and CEO
About Cayden Resources
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. The management team at Cayden is highly experienced with an impressive track record of success in the discovery, development and financing of mineral projects. Cayden is also strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighboring communities. Cayden trades on the TSX Venture Exchange under the symbol “CYD”.
For more information please visit our website at www.caydenresources.com .
Forward Looking and other Cautionary Information
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Contacts:
Cayden Resources Inc.
(778) 729-0600
[email protected]www.caydenresources.com
