Cayden Resources will commence the drilling program at its Las Calles target, which is located in the Morelos Sur project in Mexico.
The company has got a chance from the Las Calles target for extension on the current encouraging gold intercepts that were drilled early by the Grupo Mexico near the Los Filos concession border. It will drill the holes over 600 m to north-south x 1400 m to east-west at different depths that has been planned to examine the zone expansion.
Moreover, the company has inked a co-operation agreement with Goldcorp’s Mexican associate, in which the partnership will support a 12,750 m of drilling financially at the Morelos Sur property to find if an area of 200 ha, which is contiguous to the property border, contains commercial gold mineralization. The company’s planned extension is west and south of the current production facilities for Goldcorp that previously enclosed around 300 ha of the Morelos Sur concession. Under this agreement, Goldcorp will divide the results with the company. Both the parties will continue the current subsurface and surface rights, if another contract is not achieved.
The CEO of Cayden has stated that the company is delighted about the mutually beneficial agreement signed with Goldcorp, wherein Cayden will obtain the rights to drill its Las Calles target and Goldcorp will be examining another part of the Cayden’s project region. The company is expecting to work with Goldcorp and evaluate the two campaign results.