Jul 8 2015
Brian Arkell, CEO and President of Caza Gold Corp. is pleased to announce commencement of the 2015 drilling program on the Los Andes Project near Boaco, Nicaragua. The Los Andes project is located one hour east of Managua along the Pan American highway and is close to major infrastructure.
The Los Andes Project is a district-scale exploration area covering over 6,500 hectares (65 sq. km). Exploration by Caza has identified a number of high-sulfidation epithermal centers within the district as well as low-sulfidation epithermal veins along the periphery. Tertiary andesitic volcanic rocks associated with multiple intrusive rocks and caldera complexes host alteration and Au-Ag mineralization. The Company has identified several targets along a structural corridor over 11 km long. Au-Ag mineralization has been identified on surface associated with silicification, argillic alteration, breccia pipes, and diatremes.
2015 Drilling
The 2015 drilling program is underway at the Esperanza target discovered earlier this year in the southern part of the Los Andes Project. Mapping at Esperanza identified a large zone of alteration centered on a northwest trending fault zone in Tertiary volcanic rocks. The alteration zone, some 400 m long by over 100 m wide, has primarily massive silicification along with brecciation. The Company plans to drill two scout holes on this target then move the drill to the San Francisco prospect.
At the San Francisco prospect the Company plans to follow-up on anomalous gold results from last year's trenching and drilling (reported in press release of December 3, 2014). Gold values up to 6.5 g/t Au have been encountered in surface sampling, while drilling and trenching encountered quartz-carbonate veins up to 6 meters wide (true width cannot be determined at this time). Additional detailed mapping, sampling, and structural interpretation were completed on this prospect early in 2015. Based on geochemistry, vein mineralogy and textures, the Company's geologists believe these results represent the upper portions of a low-sulfidation vein system. The planned drilling will target these veins at shallow to moderate depths below surface.
Pedregal Prospect
Caza geologists recently completed detailed mapping and sampling on a 10 square km area around the Pedregal prospect. The mapping further confirms the presence of a high-sulfidation system with broad areas of silicification and argillization in Tertiary volcanic rocks. Recent sampling results from about 200 rock chip samples are pending assay; previous sampling shows a large Au-Ag-trace element anomaly over the target area.
The Company is currently analyzing results from the recent work at Pedregal and developing drill plans. Drilling is planned following the completion of the San Francisco drilling.
Los Andes Exploration
As the Pedregal work is completed, the Company's field crews are initiating exploration within the greater Los Andes District. This work consists of reconnaissance mapping and sampling along with more detailed work in select areas. The Company has identified a number of prospective areas along the 11 kilometer-long Los Andes trend, including 12 targets identified in the recently-completed airborne magnetic-radiometric survey. The survey has also greatly enhanced the structural model of the district.