Cayden starts drilling on La Magnetita target in Mexico

7 June 2012 (Last Updated June 7th, 2012 18:30)

Cayden Resources has begun a reverse circulation (RC) drilling programme at its 100% owned Morelos Sur Gold project in Guerrero State, Mexico.

Cayden Resources has begun a reverse circulation (RC) drilling programme at its 100%-owned Morelos Sur Gold project in Guerrero State, Mexico.

The programme will test the depth extensions of 24m-58m long +0.5 grams per tonne (g/t) gold trench intercepts.

Cayden Resources reported that the intercepts are in the western part of the 5km long, strong gold in soil anomaly.

Cayden Resources director David Jones said the exploration target at La Magnetita is centered on a hydrothermal system impressive for its size, strength, and continuity.

"Drilling will add the important third dimension and a test of its bulk tonnage potential," said Jones.

The company earlier received over 1,200 assays from its La Magnetita and La Joya soil programme, which indicated an extensive gold anomalous area that is up to 5km in an east-west direction, by 2km in a north-south direction.

Several assays present in the lab of Cayden are likely to provide additional targets in the near future.

Gold anomalies have been identified from each successive stage of exploration, from stream sediments, to soils and trenching, supporting the possibility that the target could host a large gold deposit similar to the targets in the Guerrero Gold Belt.

Junior mining explorer Cayden Resources focuses on the acquisition, exploration and development of precious metal projects located throughout the Americas, with three projects located in Guerrero and Jalisco, Mexico, and Nevada, US.