Aug 27 2015
Brian Arkell, CEO and President of Caza Gold Corp., is pleased to announce commencement of the 2015 exploration programs on the Piedra Iman Project near Villa Nueva, and the Las Lajas Project near Tecolostote in Nicaragua. In addition, exploration work continues on the Los Andes Project near Boaco.
Piedra Iman
Piedra Iman is part of the 7947 hectare Aguas Calientes concession near Villa Nueva in northern Nicaragua. The Aguas Calientes concession is 100% owned by Caza. Initial work has identified a copper and gold anomaly on the surface covering an area of approximately 800 meters by 400 meters. Values up to 1.0% Cu and 11.0 g/t Au have been obtained from rock chip samples within a granodiorite intrusive complex. The periphery of the system is mostly covered, although copper minerals have been identified in road cuts and the mineralization appears to cover an area of several kilometers. Caza's geologists believe the mineralization may be related to a porphyry style copper gold system or an intrusive breccia system.
Caza's work plan at Piedra Iman includes detailed outcrop mapping and sampling of the main area of exposed mineralization as well as work along the periphery to help determine the extent of the system.
To the southwest of the Piedra Iman target, previous work has identified a number of gold anomalies in stream sediment and reconnaissance rock samples. Numerous older workings in this area suggest there is mineralization associated with a regional trend of quartz veins. Upon completion of the work at Piedra Iman, Caza plans to do follow-up reconnaissance prospecting on these anomalies.
Las Lajas
Las Lajas is a copper-gold target some 12 kilometers northwest of the town of Tecolostote, in the Boaco Department, Nicaragua. The prospect lies within the 12,178 hectare La Borbona concession, and is 100% owned by Caza.
The Las Lajas prospect occurs within a two kilometer northwest trending zone of altered andesitic volcanic rocks. Work to date has defined a two by two kilometer copper-in-soils anomaly with anomalous gold in places. Copper values up to 250 ppm were identified within the soil grid with gold-in-soils up to 40 ppb Au. Rock chip samples have copper assays up to 364 ppm Cu.
Caza's geologists believe the alteration and mineralization at Las Lajas may represent the upper reaches of a porphyry copper-gold system. The Company plans to do detailed outcrop mapping and sampling of exposed areas, along with expansion of the existing soil sampling grid to help define the extent of the system.
Los Andes Update
Samples from four diamond drill holes from the San Francisco drilling are in process at the assay lab with results expected in the near future. At the Pedregal target, all fieldwork has been completed, and the Company has designed plans for a drilling program. Road construction is underway and the Company expects to commence drilling in September. In the meantime, field crews are working on a number of new prospects within the greater Los Andes District, including El Cacao and other targets in the north and central parts of the district.
Sampling, Analytical Methods, and QA/QC
Caza has a quality control and quality assurance program in place for all projects based on industry best-practice standards and guidelines. Surface samples are collected following established procedures and protocol under the supervision of Company geologists. Samples are bagged and labeled in the field, then transported to a secure storage area. Coarse, blind, blanks and blind commercial standard gold reference materials for analysis control are inserted in the sample stream. Samples in sealed bags are transported to the primary laboratory by Company or Inspectorate personnel. All samples were prepared at the Inspectorate prep facility in Managua, Nicaragua and analyzed at applicable Reno, Nevada or Vancouver, British Colombia analytical labs. Analyses are done following industry best-practice standards and guidelines and include multi-acid digestion followed by fire assay, gravimetric, AA, or ICP methods. Assay results along with blanks and standard reference material results are reviewed by Company personnel and found to be within acceptable ranges. Data is then imported directly into a secure database by a Company database specialist.