Vancouver, Canada – February 7, 2013– Greg Myers, CEO and President of Caza Gold Corp. (CZY: TSX-V and FSE: CZ6), is pleased to provide shareholders with the following update of the results of Caza’s 2012 exploration and reconnaissance programs and the outlook for 2013.
Caza is very encouraged with the initial exploration results in Nicaragua during 2012. Drilling at the Los Andes high-sulfidation epithermal gold project confirmed an extensive and well developed alteration and mineralized system in the Pedregal Zone, but did not intercept economic mineralization in the first 6 drill holes. Most of the world’s high-sulfidation gold deposits have required dozens of exploration drill holes before intersecting an economic gold intercept. We are excited to have discovered an upper 120 meter thick oxidized zone underlain by at least 150 meters of strongly silicified, sulfide bearing rocks, with anomalous gold, copper, and silver. No drill holes were able to drill through the alteration and sulfide bearing zone into unaltered rocks beneath the extensive silicified and clay altered volcanic rocks.
In addition to our encouragement at Los Andes, Caza’s regional program discovered a large copper-gold system at the Piedra Iman Target in northern Nicaragua within the Aguas Calientes Property. The initial reconnaissance sampling returned a gold assay of 45.9 grams per tonne (gpt) in a silicified and weakly iron stained igneous rock. Follow up sampling confirmed a gold-copper zone at least 800 meters long by 300 meters wide as reported in Caza’s December 4, 2012 news release.
Mapping and sampling continued during 2012 at the Balleza Project in Mexico and several new gold and silver targets were identified. Extensions to the low grade mineralized zone drilled in 2011 and multiple zones of veins and vein stock-works with high gold and silver values were discovered.
Los Andes Project, Nicaragua
Agua Caliente Property
Balleza Project, Moris Property, Mexico
Mapping and rock chip sampling was expanded along the 7 kilometer long mineralized trend in the Balleza-Cienega zone. Multiple gold and silver bearing veins zones were better delineated and new areas were discovered which not only include individual or sub-parallel sets of veins, but several areas of gold bearing vein stockworks and additional silicified dacite dikes similar to the Balleza zone which was drilled in 2011. The Balleza drilling tested a 300 meter long zone within a 1200 meter long mineralized zone of outcropping silicified dacite and overlying silicified rhyolitic tuff. This zone is up to 140 meters in true thickness from the surface and drill hole simple weighted average grades range from 22 meters grading 0.42 gpt gold to 137.8 meters grading 0.64 gpt gold using a 0.1 gpt gold cutoff and including internal waste below the cutoff grade. The area drilled tested approximately 25% of the outcropping target area. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the discovery of a mineral resource. Vein sampling, in multiple zones along the 7 km long trend, returned assays from nil to 18.46 gpt gold with silver values from nil to 723 gpt.
Caza will work to advance 3 projects during 2013, the Los Andes and Piedra Iman projects in Nicaragua and the Balleza project in Mexico. The Company will also pursue a strategic partner to assist in advancing projects in Nicaragua. Work programs in Nicaragua will focus on further defining drill targets by completing a large airborne geophysical survey over the Los Andes and Piedra Iman targets and utilizing this new data with existing alteration mineralogy and geochemical results.
Dr. Myers, President and CEO commented, “I am excited with the drilling at Pedregal in 2012. When the drill core came out of the ground we could not have hoped for better looking rock, the drill core was beautiful from the beginning of the hole to the end. We were disappointed when we received the assays which contained anomalous but un-economic values for gold, but we are certainly on the right track. The addition of the new high grade gold and copper discovery at Piedra Iman is a great success for the regional exploration program. I am looking forward to an exciting 2013!”
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, and OTCQX: CZGDF) is a growth-oriented gold exploration company focused on discovering gold deposits in Latin America and is currently working in Nicaragua and Mexico. The Company controls one of the largest mining claim positions in the highly prospective but under-explored country of Nicaragua. Company management includes geologists and business professionals with extensive exploration and mining experience and a proven track record of mineral discovery and mining success, with the determination to succeed again. Caza is dedicated to building shareholder value, working responsibly in the local communities, and protecting the environment.
CAZA GOLD CORP.
/s/ Greg Myers
President and CEO
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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.