VANCOUVER, March 6,
2014 /CNW/ – Cayden Resources Inc. (TSX.V:CYD, OTCQX: CDKNF)
(“Cayden” or the “Company”) is pleased to announce that it
has received drilling permits for the Peña de Oro target located within the
companies 100% optioned El Barqueño Concessions in Jalisco State, Mexico where
drilling will commence immediately.
The Peña de Oro target
is the most advanced of the 8 targets that Cayden plans to drill in the next 18
months. The Company considers this target to be high priority based on the 2013
surface trenching results. The results of the surface exploration program
confirmed and extended the strike length of the higher-grade gold
mineralization to at least 900 meters, which remains open in both directions
along strike and at depth.
“The Peña de Oro
target is one of the most prospective targets on the El Barqueño concession due
to the overall width and intensity of the hydrothermal alteration; the
multiphase quartz-adularia-hematite veining, brecciation, and the extensive
boiling-related textures. Some of the highest grades we have seen in trenches
to date are from this target.” stated Dan McCoy, Chief Geologist for
Cayden Resources.
The initial phase of
drilling at Peña de Oro will consist of approximately 5,000 meters in 25 holes.
Cayden is waiting for additional permits to drill the Angostura and Zapote
targets where the Company recently released prospective trench results (see
news release dated February 4, 2014). In addition to these 4 targets, 5
additional targets are being advanced to a drill ready state through further
surface sampling, trenching and road building. Cayden expects to commence
resource delineation on at least 4 of 9 identified targets in 2015.
President and CEO,
Ivan Bebek, stated ” We are very excited to commence drilling at the Peña
de Oro target as it has demonstrated some of the highest grade trenches on the
property to date and has the potential for a second significant discovery on
our El Barqueño concessions. We are also well into the process of obtaining
additional permits which will allow us to conduct exploration in the multiple
target areas yet to be fully drilled by our technical team”.
On Behalf of the
Board, Ivan Bebek, President and CEO
About Cayden Resources
– Cayden is a junior mining company focused on delivering shareholder value
through the acquisition, exploration and development of precious metal projects
in Mexico. 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, health and safety for its
employees and neighboring communities. Cayden trades on the TSX Venture
Exchange under the symbol “CYD” and “CDKNF” on the OTCQX.
For more information on Cayden Resources, please visit our website at
www.caydenresources.com.
Forward Looking and
other Cautionary Information – Neither the TSX Venture Exchange nor any other
regulatory authority accepts responsibility for the adequacy or accuracy of
this release. This release includes certain statements that may be deemed
“forward-looking statements”. Forward-looking information is information
that includes implied future performance and/or forecast information including
information relating to, or associated with, exploration and or development of
mineral properties. These statements or graphical information involve known and
unknown risks, uncertainties and other factors which may cause actual results,
performance or achievements of the Company to be materially different (either
positively or negatively) from any future results, performance or achievements
expressed or implied by such forward-looking statements. Investors should
review the Company’s AIF which is available at www.sedar.com
SOURCE Cayden
Resources Inc.
For further information:
Ivan Bebek, President,
CEO and Director
Phone: 778.729.0600
