Cayden Resources has declared that it has obtained more than 2000 additional assays from the soil program carried out at the La Magnetita target.
The +100 ppb gold-in-soil geochemical anomaly area has been increased by means of these assays and the size of the anomaly is now more than 7.3 sq. km. and is still exposed almost in several directions. The new soils expose wide regions, which have high values of gold that includes +500 ppb of gold trending towards north and south. These high-grade anomalies are in line with wide quartz-iron oxide alteration, north-south intrusive dikes, and veining in the limestone. These anomalies show more than 1.5 sq. km of area, wherein the company encountered averaging gold-in-soil of +500 ppb. They are exposed towards the southern and eastern parts.
Geologists from the company took a grab sample assaying over 27 g/t gold, containing magnetite skarn, in the western anomalies. Currently, the company is conducting a drill program in trenches and anomalous gold-in-soil areas at the La Magnetita target’s western area. Further trenching and construction of road have been commenced in the target’s eastern part. The company continues to expand its soil program in the areas, where the anomaly stays exposed. It is looking forward to announce further assays of the drilling carried out at Las Calles and will report the La Magnetita drilling results later this summer.
Ivan Bebek, the CEO and President of Cayden Resources, stated that the company is impressed by the strength and size of the hydrothermal system at the La Magnetita. The areas of targets are continuously expanding with the completion of more surface exploration program. Cayden expects that its drill programs have a great opportunity to identify a significant gold deposit.
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