Additional Information
Market: TSX-V
Sector: Gold Mining
EPIC: CYD
Latest Price: 2.86  (-1.38% Descending)
52-week High: 3.48
52-week Low: 0.97
Market Cap: 144.28M
1 year chart
1 day chart
Cayden Resources
www.caydenresources.com

Cayden Resources is a Canadian exploration company focused on precious metal opportunities. The company has three projects located in Guerrero and Jalisco, Mexico and Nevada, USA. Cayden's primary project is the Morelos Sur property. The company is currently undertaking extensive exploration and drilling programs on all of the projects. The management team at Cayden is highly experienced with an impressive track record of success in the discovery, development and financing of mineral assets.

Cayden Resources starts drilling on La Magnetita target at Morelos Sur project

6th Jun 2012, 10:43 am by Erin Sugar
Cayden starts drilling highly prospective La Magnetita prospect Cayden starts drilling highly prospective La Magnetita prospect

Junior mining explorer Cayden Resources (CVE:CYD) announced Wednesday that it has mobilized a reverse circulation drill rig and has started drilling at its La Magnetita target.

La Magnetita is part of Cayden’s Morelos Sur gold project in Guerrero State, Mexico.

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

The area from which trench results have been received so far covers roughly 20 percent of the initial 5 km long, strong gold in soil anomaly, the company said.

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

Cayden currently has several assays in the lab from new trenches, which will likely provide additional targets for the company in the near future, it said.

The company started at La Magnetita with a fairly raw prospect underlain by a "very prospective" magnetic anomaly.

Each successive stage of exploration, from stream sediments, to soils and trenching, successfully identified gold anomalies, supporting the theory that the target could host a large gold deposit similar to the others discovered in the Guerrero Gold Belt, Cayden said.

"The opportunity to drill La Magnetita is significant, as it is rare to find so many consistent preliminary indicators in a prolific world class gold belt," said Cayden’s chief geologist, Dan McCoy.

The company announced last week the release of new trench assays from the La Magnetita prospect. Highlights included 24 metres of 1.65 g/t gold, 25 metres of 0.72 g/t gold, and 25 metres of 0.52 g/t gold.

The company reported that the intercepts were in the western part of the five kilometre long soil anomaly at the site.

An additional 363 trench samples are pending assay, and will be released shortly, the company said in the middle of last month.

"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," added Cayden’s director, David Jones.

Jones is credited with the discovery of the Los Filos gold-skarn deposit, which became Mexico's largest producing gold mine.

Cayden focuses on the acquisition, exploration and development of precious metal projects located throughout the Americas. It currently has three projects located in Guerrero and Jalisco, Mexico, and Nevada, USA.

No investment advice


Proactive Investors North America Inc, trades as "Proactiveinvestors USA & Canada".


You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.


You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.


From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.


You understand that we may be providing advertising and/or marketing services to companies mentioned on the site. A full list of companies that are paying for services from us, or our affiliated companies in the UK and Australia can be viewed here