VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 7, 2015) - Brian Arkell, CEO and President of Caza Gold Corp. (the "Company" or "Caza") (TSX VENTURE:CZY)(FRANKFURT:CZ6) is pleased to announce commencement of the 2015 drilling program on the Los Andes Project near Boaco, Nicaragua. The Los Andes project is located one hour east of Managua along the Pan American highway and is close to major infrastructure.
The Los Andes Project is a district-scale exploration area covering over 6,500 hectares (65 sq. km). Exploration by Caza has identified a number of high-sulfidation epithermal centers within the district as well as low-sulfidation epithermal veins along the periphery. Tertiary andesitic volcanic rocks associated with multiple intrusive rocks and caldera complexes host alteration and Au-Ag mineralization. The Company has identified several targets along a structural corridor over 11 km long. Au-Ag mineralization has been identified on surface associated with silicification, argillic alteration, breccia pipes, and diatremes.
The 2015 drilling program is underway at the Esperanza target discovered earlier this year in the southern part of the Los Andes Project. Mapping at Esperanza identified a large zone of alteration centered on a northwest trending fault zone in Tertiary volcanic rocks. The alteration zone, some 400 m long by over 100 m wide, has primarily massive silicification along with brecciation. The Company plans to drill two scout holes on this target then move the drill to the San Francisco prospect.
At the San Francisco prospect the Company plans to follow-up on anomalous gold results from last year's trenching and drilling (reported in press release of December 3, 2014). Gold values up to 6.5 g/t Au have been encountered in surface sampling, while drilling and trenching encountered quartz-carbonate veins up to 6 meters wide (true width cannot be determined at this time). Additional detailed mapping, sampling, and structural interpretation were completed on this prospect early in 2015. Based on geochemistry, vein mineralogy and textures, the Company's geologists believe these results represent the upper portions of a low-sulfidation vein system. The planned drilling will target these veins at shallow to moderate depths below surface.
Caza geologists recently completed detailed mapping and sampling on a 10 square km area around the Pedregal prospect. The mapping further confirms the presence of a high-sulfidation system with broad areas of silicification and argillization in Tertiary volcanic rocks. Recent sampling results from about 200 rock chip samples are pending assay; previous sampling shows a large Au-Ag-trace element anomaly over the target area.
The Company is currently analyzing results from the recent work at Pedregal and developing drill plans. Drilling is planned following the completion of the San Francisco drilling.
Los Andes Exploration
As the Pedregal work is completed, the Company's field crews are initiating exploration within the greater Los Andes District. This work consists of reconnaissance mapping and sampling along with more detailed work in select areas. The Company has identified a number of prospective areas along the 11 kilometer-long Los Andes trend, including 12 targets identified in the recently-completed airborne magnetic-radiometric survey. The survey has also greatly enhanced the structural model of the district.
As part of our ongoing work with local communities and government agencies, the Company has completed a number of social, economic, and environmental initiatives.
Caza completed clean water resource projects in three local communities including refurbishing of wells and cisterns, along with various water sanitation projects. In coordination with the Ministry of Health, the Company completed local community health programs, including medical check-ups, vaccinations and pest control programs.
Caza built and maintains a greenhouse where 4500 trees of nine different local native species are being grown from seedlings to be planted in select reforestation areas. Along these lines, the Company provided 300 avocado trees to replace older trees and promote avocado production in the local community.
Caza routinely provides support to the local schools for educational and health purposes. The Company has also completed a number of training programs designed to help promote local businesses.
Brian Arkell, MSc. Geology, SME Registered, Fellow AusIMM, President and CEO, is the Qualified Person who reviewed and approved the contents of this news release.
About Caza Gold Corp.
Caza Gold Corp. is a greenfields exploration company focused on discovering new gold deposits in Nicaragua. The Company controls a large land position in the highly prospective but largely undeveloped gold belts of Nicaragua. Caza has developed a large portfolio of projects in Nicaragua, including the Los Andes gold-silver project and the Piedra Iman copper-gold project.
Caza controls over 750 square kilometers of prospective ground within the central Nicaragua Gold Belt. In addition to the Los Andes Gold Project, Caza is exploring the Piedra Iman porphyry in northern Nicaragua along with five high-sulfidation volcanic hosted Au-Ag targets located in west-central Nicaragua near the Pan-American Highway.
CAZA GOLD CORP.
/s/ Brian Arkell
President and CEO
"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
This news release includes certain statements and information that may contain forward-looking information within the meaning of applicable Canadian securities laws or forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, the likelihood of commercial mining and financing requirements and the ability to fund future exploration and development are forward-looking statements and contain forward-looking information. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbour.
FOR FURTHER INFORMATION PLEASE CONTACT:
Caza Gold Corp.
Toll Free: 1-877-684-9700
tel: (604) 685-9750
(604) 685-9744 (FAX)
Source: Caza Gold Corp.
© Marketwire - Canada, source Press Releases - English