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.