Cayden Resources, a junior mining firm, has reported that a drill program has been started at the La Magnetita East target area. This target is situated in the Morelos Sur Gold property in Mexico.
At first, the drill program will include core drilling from 4,000 to 5,000 m to examine the highly mineralized 4 km2 area that lies in the center of the gold in soil anomaly containing more than 500 ppb.
It addition, Cayden has obtained further mapping and rock results from the La Magnetita East target that consists of more than 20 fresh bedrock samples, which yielded high grade assays of 9.4 g/t gold and 982 g/t silver in regions along with strong jasperoid and quartz veining.
Besides, the wide surface campaign, the company is carrying out the VTEM aerial geophysical survey campaign at the El Barqueno project.
According to Dan McCoy, Cayden Resources’ Chief Geologist, the company is happy with the coincident results obtained from the rock samples, geologic mapping, and the highly strong potential anomalous multi-element soil anomaly identified at the La Magnetita East target area. Cayden is encouraged by the concentration of rock and soil values along with the existence of the right kinds of alteration and lithology, and considers this to be one of the best targets that were not drilled at the property so far. McCoy added that the company is delighted to begin the core drill campaign.
The company is aiming to acquire, explore and develop of precious metal projects in North America. Cayden’s management team is highly qualified and has a good record of success in the discovery, expansion and financing of mineral projects.
Source: http://www.caydenresources.com/
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