DGAP-News: Caza Gold Corp. Acquires Option to Purchase 100% Interest in Large High Sulfidation Gold Property in Nicaragua; Listing on the Frankfurt Stock Exchange (Symbol CZ6)
(firmenpresse) - DGAP-News: Caza Gold Corp. / Key word(s): Miscellaneous
Caza Gold Corp. Acquires Option to Purchase 100% Interest in Large
High Sulfidation Gold Property in Nicaragua; Listing on the Frankfurt
Stock Exchange (Symbol CZ6)
14.12.2010 / 15:00
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Vancouver, Canada - Greg Myers, President and CEO of Caza Gold Corp. (CZY:
TSX-V; CZ6: Frankfurt), is pleased to announce the signing of a letter
agreement with Inversiones Ecologica S.A. for an option to purchase a 100%
interest in the Los Andes Gold Property in Nicaragua. The property covers
approximately 6,575 hectares and is strategically located within the
Central Nicaragua Gold Belt between the El Limon and La Libertad Mines of
B2 Gold.
The Los Andes high sulfidation gold system is exposed on surface as an
extensive alteration zone of hydrothermal vuggy quartz, pervasive
silification, and alunite associated with highly anomalous gold, silver,
and trace elements. The alteration zone covers a 45 square kilometer area
and measures 12 kilometers long by up to 6 kilometers wide. It is similar
in size, nature, intensity, and trace element geochemistry to world class
gold deposits such as Yanacocha and Pierina in Peru (see comparable maps
below).
High sulfidation gold systems are known as 'the giant gold systems' and
these types of deposits host the largest gold deposits in the world, such
as the multi-million ounce Yanacocha, Pueblo Viejo, and Pierina Mines. The
alteration zones in these types of systems contain highly anomalous levels
of gold, silver, arsenic, copper, antimony, bismuth, selenium, barium, and
mercury, all of which are highly anomalous at the Los Andes project and are
present throughout the 45 square kilometer alunite-silica alteration zone.
Surface samples grading up to 2.5 grams per tonne gold within
alunite-altered and silicified volcanic breccias, were collected by Caza
during recent due diligence sampling. The property was previously held
years ago by First Point Minerals, who conducted extensive surface rock
sampling.
Detailed mapping and sampling of known highly anomalous gold mineralized
zones will commence shortly and take about 6 months in order to identify
high priority gold targets for drilling. A more general reconnaissance
mapping and sampling program in 2011 will attempt to outline the overall
extent of the epithermal gold and silver mineralization.
The agreement grants Caza an option to acquire a 100% interest in the Los
Andes Property by spending US$2.97 million on exploration, making US$1.2
million in cash payments (US$45,000 paid on signing) and issuing 1.5
million common shares, over a 4 year period, subject to a 2% NSR production
royalty, and regulatory and exchange approvals. A formal purchase opton
agreement will be completed within 90 days.
Additionally, Caza Gold Corp. is pleased to announce that its common shares
have commenced trading on the Frankfurt Stock Exchange under the symbol
CZ6.
Greg Myers, Ph.D., P.Geo. is the Qualified Person who reviewed and approved
the contents of this news release. Sampling was supervised by Dr. Myers
and all samples were prepared and analyzed at Inspectorate analytical labs
in Reno Nevada.
Caza Gold Corp. (CZY: TSX-V; CZ6: Frankfurt), is a newly listed exploration
company focused on the acquisition and exploration of strategic gold
properties in Mexico and Latin America.
CAZA GOLD CORP.
Greg Myers Ph.D. P. Geo.
President and CEO
For more information, please contact Gregg Wilson under tel: +1 (604)
685-9750, fax: +1 (604) 685-9744, email: gregg(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 applicable securities laws. 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
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
14.12.2010 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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106338 14.12.2010
Datum: 14.12.2010 - 15:00 Uhr
Sprache: Deutsch
News-ID 32857
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