🕐15.02.12 - 17:54 Uhr
CAYDEN RESOURCES INTERSECTS 15.2 METERS OF 188 G/T SILVER, 5.3% ZINC AND 4.7% LE
AD AT ITS QUARTZ MOUNTAIN PROJECT
Cayden Resources Intersects 15.2 meters of 188 g/t Silver, 5.3% Zinc and 4.7% Lead at its Quartz Mountain Project
Vancouver, British Columbia – February 15th, 2012 – Cayden Resources Inc.
(TSX.V: CYD) (“Cayden” or the “Company”) is pleased to announce
it has received assay results from its reverse circulation drilling completed at the Quartz Mountain property near Fallon, Nevada, USA where Cayden
has been targeting an area of historic silver-lead-zinc production.
The 16 holes assayed to date, drill tested over 350 meters of strike length of the
Quartz Mountain mineralized system with the majority encountering greater than 30 g/t Ag and in excess of 1% combined Pb and Zn.
Highlights include:
* 15.2 meters of 188 g/t Ag, 5.3% Zn, and 4.7% Pb (QM-0013)
* 4.6 meters of 305.6 g/t Ag, 4.42% Zn, and 9.69% Pb (QM-0015)
* 38.1 meters of 29.7 g/t Ag, 2.32% Zn, and 0.6% Pb (QM-004).
Please see table 1 for additional results, and figures 1 and 2 for drill hole locations.
Cayden is continuing its Phase 1 drill program at the present
time and expects assays from at least 8 more holes in the coming months.
Table 1: Significant drill intercepts from Quartz Mountain*
Hole ID
From
(m)
To
(m)
Width
(m)
Au
(g/t)
Ag
(g/t)
Zn
(%)
Pb
(%)
Cu
(%)
Mo
(%)
Ag Eq
(g/t)
Ag Eq
(OPT)
QM-0001
121.9
125.0
3.0
0.53
40.20
0.04%
0.63%
0.05%
0.01%
85.86
3.03
QM-0002
44.2
45.7
1.5
0.05
48.40
1.36%
1.05%
0.06%
0.00%
98.19
3.46
QM-0002
70.1
74.7
4.6
0.01
13.63
1.86%
0.02%
0.01%
0.01%
51.04
1.80
QM-0003
44.2
51.8
7.6
0.03
12.84
2.73%
0.13%
0.08%
0.01%
73.45
2.59
Including
44.2
45.7
1.5
0.04
28.10
5.21%
0.53%
0.04%
0.03%
145.45
5.13
QM-0003
64.0
67.1
3.0
0.03
20.47
3.97%
0.33%
0.06%
0.02%
109.45
3.86
QM-0004
19.8
57.9
38.1
0.09
29.69
2.32%
0.59%
0.12%
0.00%
96.49
3.40
Including
38.1
42.7
4.6
0.11
70.13
7.28%
1.99%
0.13%
0.01%
252.72
8.91
Including
50.3
57.9
7.6
0.23
68.38
6.04%
1.06%
0.35%
0.01%
235.39
8.30
QM-0005
68.6
77.7
9.1
0.06
31.52
0.39%
0.52%
0.03%
0.04%
68.34
2.41
Including
74.7
77.7
3.0
0.07
49.80
0.31%
0.95%
0.08%
0.06%
105.99
3.74
QM-0005
77.7
89.9
12.2
Mine working encountered
QM-0005
89.9
91.4
1.5
0.05
328.00
0.69%
2.77%
0.42%
0.02%
432.50
15.26
QM-0005
91.4
94.5
3.0
Mine working encountered
QM-0005
94.5
106.7
12.2
0.00
34.18
3.33%
0.58%
0.07%
0.04%
124.62
4.40
Including
103.6
106.7
3.0
0.00
71.90
8.47%
1.59%
0.17%
0.09%
295.90
10.44
QM-0006
91.4
99.1
7.6
0.02
11.84
3.48%
0.17%
0.01%
0.01%
83.60
2.95
QM-0006
99.1
102.1
3.0
Mine working encountered
0.00
QM-0006
102.1
105.2
3.0
0.21
11.15
2.96%
0.23%
0.02%
0.02%
86.67
3.06
QM-0007
74.7
77.7
3.0
0.00
28.40
0.58%
0.73%
0.02%
0.01%
57.04
2.01
QM-0007
96.0
100.6
4.6
0.14
110.97
3.36%
2.67%
0.11%
0.04%
247.43
8.73
QM-0008
68.6
76.2
7.6
0.26
102.14
0.21%
2.09%
0.14%
0.16%
227.62
8.03
QM-0008
79.2
82.3
3.0
0.17
151.30
0.15%
4.43%
0.07%
0.24%
337.73
11.91
QM-0008
94.5
99.1
4.6
0.22
41.97
3.33%
0.58%
0.07%
0.04%
124.61
4.40
QM-0009
77.7
79.2
1.5
0.01
17.00
0.14%
0.25%
0.03%
0.01%
31.17
1.10
QM-0009
83.8
85.3
1.5
0.01
18.60
0.26%
0.49%
0.01%
0.00%
33.90
1.20
QM-0013
51.8
67.1
15.2
0.15
188.23
5.31%
4.86%
0.17%
0.03%
403.71
14.24
QM-0013
79.2
83.8
4.6
0.05
146.33
3.50%
4.51%
0.09%
0.03%
310.70
10.96
QM-0013
131.1
132.6
1.5
0.03
30.50
0.51%
0.85%
0.02%
0.07%
84.53
2.98
QM-0013
161.5
164.6
3.0
0.01
67.50
1.67%
1.67%
0.04%
0.00%
131.97
4.66
QM-0013
195.1
198.1
3.0
0.34
291.50
9.63%
5.72%
0.16%
0.02%
603.09
21.27
QM-0014
53.3
59.4
6.1
0.13
33.80
0.27%
0.33%
0.03%
0.01%
58.80
2.07
QM-0014
67.1
71.6
4.6
0.11
80.27
2.38%
1.95%
0.08%
0.08%
198.70
7.01
QM-0014
85.3
89.9
4.6
0.29
305.67
4.42%
9.69%
0.19%
0.11%
630.27
22.23
QM-0015
30.5
36.6
6.1
0.05
22.15
0.17%
0.25%
0.05%
0.01%
40.30
1.42
QM-0015
57.9
62.5
4.6
0.03
34.00
0.92%
0.20%
0.22%
0.03%
83.87
2.96
QM-0016
47.2
51.8
4.6
0.09
16.23
0.14%
0.20%
0.05%
0.01%
34.76
1.23
*Silver equivalent grades have been determined using the approximate spot rate for each metal at the time of the release.
The metal prices applied in
the conversion are as follows: Gold - $1725/Ounce; Silver - $33.50/Ounce; Zinc - $0.95/lb; Lead - $0.97/lb; Copper - $3.85/lb; Molybdenum Oxide -
$14.75/lb.
The silver equivalent grades are presented for comparative purposes only and are not intended to assess economic feasibility.
About the Quartz Mountain Project
The Quartz Mountain project consists of an option with Vancouver based Railhead Resources Ltd.
(“Railhead”), a private resource explorer, under
which Cayden can earn either a 50% or 60% interest in three groups of Nevada silver-gold exploration properties, which Railhead has the right to
acquire from an underlying owner.
The Property consists of three claim groups for a total of 60 square kilometers over which many small historical
workings are present.
Cayden and Railhead have performed soil, rock sampling, and geophysical surveys over other portions of the property and are
currently in the process of refining multiple targets into a drill ready stage.
Morelos Sur
In addition to the Quartz Mountain drilling, Cayden continues to drill the Las Calles prospect on its Morelos Sur gold property in Mexico while
actively advancing its La Magnetita and La Joya target areas through trenching and surface sampling.
Initial results from the 2011 programs are
expected shortly.
Cayden’s President and CEO Ivan Bebek states: “We are pleased with the initial results at Quartz Mountain and with the ongoing developments at
Morelos Sur.
2012 is going to be a very eventful year for Cayden, as the company will be aggressively exploring both our Morelos Sur and Quartz
Mountain properties throughout the year.
We expect to be delivering significant results from the exploration programs in the coming months.”
Qualified Person and QA/QC
Gary DeShutter, M.Sc., P.
Geo.
is the Qualified Person with respect to NI 43-101 at Quartz Mountain.
Reverse circulation samples were taken at five
foot (1.5 m) intervals utilizing drilling and sampling techniques widely accepted in resource definition studies of base and precious metal deposits.
All reverse circulation drill samples are assayed using standard 30 gram fire assay with atomic absorption finish for gold and by nitric aqua regia
digestion, and inductively coupled plasma - atomic emission spectroscopy (ICP - AES) for the other elements reported; all sample preparation and
analyses are completed by ALS Minerals Labs in Reno Nevada and Vancouver, British Columbia.
QA/QC programs using internal lab and external standard
samples, re-assays, and blanks indicate good accuracy and precision in a large majority of standards assayed.
Based on historical reports of stoping
activities, mineralization in the area drilled is believed to be primarily shallow to moderately dipping.
Six of the eight holes were drilled
vertically and two were drilled at minus 75 degrees.
Thus the widths suggested by the intercepts are believed to be approximate true width to within
40%.
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 on Cayden Resources, please visit our website at www.caydenresources.com.
( http://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 news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the Common Shares in
any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Common Shares have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be offered or sold within the
United States or to, or for the benefit of, U.S.
persons (as defined in Regulation S under the U.S.
Securities Act) unless registered under the U.S.
Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
Figure 1: Quartz Mountain Claim Map
Figure 2: Quartz Mountain drill hole location map
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