DGAP-News: Caza Gold Defines Large Initial Drill Target at the Quisaltepe Gold Zone on the Los Andes Property, Nicaragua
(firmenpresse) - DGAP-News: Caza Gold Corp. / Key word(s): Miscellaneous
Caza Gold Defines Large Initial Drill Target at the Quisaltepe Gold
Zone on the Los Andes Property, Nicaragua
15.03.2012 / 17:45
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Vancouver, Canada - Greg Myers, CEO and President of Caza Gold Corp. (CZY:
TSX-V, FSE: CZ6, and OTC Pink Sheets: CZGDF), announces that Caza has
defined a large initial drill target at the Quisaltepe high sulfidation
epithermal gold zone on the Los Andes project in Nicaragua.
Detailed geological mapping and rock chip sampling (approximately 575
samples in the Quisaltepe area) have defined a strong gold anomaly over an
area at least 2 kilometers (km) long and up to 300 meters (m) wide. High
gold values up to 2.53 grams per tonne (gpt) in rock chip samples are
associated with advanced argillic alteration and strongly silicified zones
typical of high sulfidation epithermal gold deposits.
The highest gold values appear to be closely associated with the
intersections of fault structures, possibly indicating leakage from
mineralization deeper in the hydrothermal system. Quisaltepe is located at
the margin of a large volcanic caldera, one of a series of volcanic
calderas and high sulfidation epithermal alteration zones lying along a
regional 1st order northwest-trending fault zone that defines the Central
Gold Belt in Nicaragua.
Broad scale alteration and trace metal anomalies at Quisaltepe are zoned
around 2nd order northeast- and north-trending cross-faults. The
Quisaltepe, San Francisco and Pedregal drill targets are each located along
a northeast-trending fault zone where it is cut by the northwest-trending
faults (see map link).
More than 40 strongly silicified breccia bodies with advanced argillic and
argillic alteration and trace metal anomalies occur within this regional
northeast-trending structural zone and host anomalous gold values and
highly elevated values of trace metals, which are associated with gold such
as arsenic, bismuth, and tellurium.
A drill contractor has been selected and the Phase 1 drill program is
scheduled to commence in the next few weeks at Quisaltepe, targeting the
northern flank of Cerro Quisaltepe to test the deeper portions of the fault
zones below the surface gold anomalies. Four to six drill holes each 200 m
to 400 m deep will angle across the structures towards the south.
A parallel target occurs approximately 1 km to the north of Quisaltepe on
the lower ridgelines and hosts the 2.53 gpt rock chip sample. This area
has sporadic outcrops and several landslide deposits covering silicified
breccia bodies. Drilling is planned to test this structure zone as well.
The Quisaltepe Zone is one small part of the overall epithermal gold system
mapped at Los Andes. The Company continues to map and sample the Los Andes
Property and has thus far identified 10 gold targets along a 12 km long
portion of the fault zone. The Pedregal silver-gold zone, 7 km to the
northwest of Quisaltepe, is also a top priority target and further details
will be released next week.
Soil and rock chip sampling also continues to try and define the limits of
the new San Francisco drill target on the San Francisco Property located 5
km south of the Los Andes Project on the same northeast-trending structural
zone which hosts the Quisaltepe and Pedregal targets. Currentlythe San
Francisco gold soil anomaly measures at least 750 m by 750 m and is open in
all directions.
The Company has been approved for trading on the USA OTC Pink Sheets under
the symbol CZGDF and is proceeding with listing its common shares for
trading on the OTCQX in the USA. The Company has engaged Merriman Capital
Inc. as its Principal American Liaison. The listing in the U.S. will
improve the liquidity of its common shares to better serve the Company's
U.S. shareholders.
Greg Myers, Ph.D. P. Geo, CEO of the Company, is the Qualified Person who
reviewed and approved the contents of this property update.
Caza Gold Corp. is a growth-oriented gold exploration company listed on the
TSX-V: CZY, FSE: CZ6, and OTC Pink Sheet: CZGDF. The Company is focused on
the acquisition and exploration of strategic gold properties in Mexico and
Latin America.
CAZA GOLD CORP.
Per:
/s/ Greg Myers
Greg Myers
President and CEO
For more information, please contact Greg Myers at Toll Free:
+1-877-684-9700, tel: +1 (604) 685-9750, fax: +1 (604) 685-9744, email:
gmyers(at)cazagold.com or visit our website, www.cazagold.com
'Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.'
CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS
Certain statements contained herein constitute 'forward-looking statements'
within the meaning of the United States Private Securities Litigation
Reform Act of 1995. All statements that are not historical facts, including
without limitation statements regarding future estimates, plans,
objectives, assumptions or expectations of future performance, are
'forward-looking statements'. We caution you that such 'forward-looking
statements' involve known and unknown risks and uncertainties, as discussed
in the Company's filings with Canadian and United States securities
agencies. The Company expressly disclaims any obligation to update any
forward-looking statements other than as required by applicable law. We
seek safe harbour.
End of Corporate News
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Datum: 15.03.2012 - 17:45 Uhr
Sprache: Deutsch
News-ID 125356
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