DGAP-News: Caza Gold Identifies Phase 1 Drill Targets at the Los Andes Project, Nicaragua
(firmenpresse) - DGAP-News: Caza Gold Corp. / Key word(s): Miscellaneous
Caza Gold Identifies Phase 1 Drill Targets at the Los Andes Project,
Nicaragua
02.11.2011 / 14:00
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NEWS RELEASE
Caza Gold Identifies Phase 1 Drill Targets at the Los Andes Project,
Nicaragua
Vancouver, Canada - November 2, 2011 - Greg Myers, CEO and President of
Caza Gold Corp. (TSX-V: CZY, FSE: CZ6), is pleased to announce that three
drill target areas have been identified at the Los Andes high-sulfidation
gold property in Nicaragua for testing by a Phase 1 drilling program.
Caza Gold is very encouraged by the results of its 2011 exploration program
at the Los Andes property in Nicaragua. Detailed mapping and surface
sampling has identified 3 top priority drill targets, Cerro Quisaltepe,
Pedregal, and El Cacao. Drilling is planned to begin in January of 2012.
Drill access roads have been planned and the surface access is being
finalized. Approximately 6 kilometers of road construction is scheduled to
begin in November once the heavy rains have ended. The roads are planned
to cut the central portion of the 16 kilometer long alteration system at
Los Andes and will provide better access and new exposures through some
covered areas, which will add to mapping and sampling information.
Drill targets have been defined based on rock chip geochemistry, alteration
mineralogy, and fault structures which are associated with altered and
mineralized breccia bodies. These surface features are interpreted to
indicate leakage from mineralized hydrothermal cells at depth which will be
targeted by the drilling program. Alteration is zoned around the breccias
and the larger fault zones. Higher temperature alteration assemblages of
silica and natroalunite are surrounded by lower temperature advanced
argillic, argillic, and an outermost propyllitic alteration zone. Many of
the silicified zones have vuggy or sugary textures, which indicate a strong
hydrothermal system, with the nearly complete replacement of the original
volcanic rocks. Mapping has not defined the limits of the alteration
system and currently the argillic assemblage is more than 16 km long and up
to 10 km wide covering more than 50 square km.
Gold values are strongly anomalous in the Quisaltepe area and are closely
associated with the natroalunite-silica and advanced argillic zones of
alteration, breccia bodies, large fault zones, and quartz monzonite dikes.
At least 25 breccia bodies have been mapped in the Quisaltepe area. The
Quisaltepe target area is at least 2.5 km long and the main caldera
bounding ring fault structural zone is at least a hundred meters wide.
Background gold values are less than 0.005 grams per tonne (gpt) but within
the ring structure and cross-cutting faults values increase significantly
and range from 0.025 to 2.5 gpt gold.
The Pedregal-El Cacao area hosts at least 15 breccia bodies along the main
caldera ring fault zone and related radial faults. Silver and gold
anomalies occur along the fault and breccia zones which are at least 3 km
long and over a hundred meters wide. Silver background levels are less
than 0.2 gpt but within the fault and advanced argillic zones values from 2
to 27.9 gpt silver occur. Several silica-natroalunite centers have also
been identified with surrounding advanced argillic and argillic alteration.
The El Cacao target is to the northwest of Pedregal and occurs in a large
structural wedge formed at the intersection of the central ring fault, a
major north trending fault, and cross-cutting radial faults. Gold and
silver values are anomalous and range from 0.01 to 0.089 gpt gold and 2 to
13 gpt silver. The El Cacao target is approximately 1.7 km from the
Pedregal target and may be part of the same hydrothermal cell.
Alteration is continuous between all these targets and additional drill
targets will be defined as detailed mapping continues.
Greg Myers, Ph.D. P. Geo is the Qualified Person who reviewed and approved
the contents of this news release.
Caza Gold Corp. (TSX-V: CZY, FSE: CZ6), is an exploration company focused
on the acquisition and exploration of strategic gold properties in Mexico,
Nicaragua, and Latin America.
CAZA GOLD CORP.
Per:
/s/ Greg Myers
Greg Myers Ph.D. P. Geo.
President and CEO
For more information, please contact Greg Myers at Toll Free:
1-877-684-9700, tel: (604) 685-9750, fax: (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 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
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