Cayden Resources has started the drill program at the Quartz Mountain property, Nevada.
Surface Exploration Results from Quartz Mountain Project
The company is focusing on a historical area, producing lead, silver and zinc.Recently, Cayden and its joint venture partner, Railhead Resources, have received drilling and soil samples that has shown a geochemical anomaly, whose length is around 1.5 km and thickness is 1.5 km. The company took samples from the area and has shown the gold occurrence, which was not formerly sampled. It has yielded 1.38 and 2.38 g/t gold. A core-drilling will be conducted during 2012, which examines the mineralized expansions at Quartz Mountain and further targets the property.
The company has drilled three holes out of a 17-hole drill campaign at the Las Calles target, which is situated near El Bermejal and Los Filos open-pit gold mines. Cayden will drill around 30,000 m between its properties in Nevada and Mexico. Currently, the company has $8.2 million, which is sufficient for the drill campaigns.
Dan McCoy, Cayden’s Chief Exploration Geologist, has commented that the company has come across the kind of alteration, lithology and structure that are expected in the holes, drilled at the Las Calles target. The company is expecting to complete drilling at the Morelos Sur and Quartz Mountain projects in the subsequent six months. It is waiting for the assay results from the campaigns during the early part of 2012.