Vancouver, Canada – June 11, 2015 – Brian Arkell, CEO and President of Caza Gold Corp. (the “Company” or “Caza”, TSX-V: CZY, FSE: CZ6) is pleased to provide an update on results of the airborne magnetic survey completed 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.
Airborne Magnetic Survey
A high resolution helicopter-borne magnetic and radiometric survey covering some 55 square kilometers over the Los Andes area was completed April 18th, 2015 (figure 1). The survey was conducted by Geotech Ltd. (formerly Aeroquest Airborne) of Ontario, Canada. Approximately 550 line kilometers were flown at 100 meter line spacing with an average instrument height of 36 meters achieved.
Initial data processing was completed by Geotech – Aeroquest. Detailed final processing along with quality control was completed by Buks Lubbe, geophysicist of the Caza team. Results were modeled using Geosoft cloud-based Magnetization Vector Inversion software. Two 3-dimensional magnetic models were calculated: (1) a regional model with 50 meter cells over the entire area, and (2) a 25 meter 3D cell detailed model over the northern part of the survey.
Review of the initial results has identified a number of anomalous areas and has greatly enhanced the structural model of the Los Andes trend (figure 2). A very large magnetic high is centered over the Quisaltepe area, interpreted as a large, buried intrusive body. At least four other magnetic highs, likely intrusive bodies, associated with alteration and surface geochemical anomalies, were identified as follow-up prospects. Five large areas of interpreted as magnetite destruction are evident in the data. Three potassium radiometric anomalies were identified as well (figure 3).
Brian Arkell, CEO and President of Caza Gold Corp., commented: “The aeromag survey has greatly enhanced our knowledge of the district and has identified a number of excellent targets that require follow-up groundwork and drilling. The survey identified several covered anomalies as well as other targets previously unknown, further highlighting the exploration potential in this recently-discovered district.”
Caza now plans to complete surface reconnaissance mapping and sampling in the target areas delineated by the survey, to further develop the prospects. This work will be carried out in Q3 concurrent with drilling planned at our San Francisco and Pedregal projects.
The Company continues work on other targets in the Los Andes region including San Francisco and Pedregal. At San Francisco, two drill ready targets have been identified, a low-sulfidation vein target and a broad silicified breccia target in andesitic volcanic rocks. At Pedregal, a high-sulfidation Au-Ag target has emerged covering an extensive area of silicified, argillized, and brecciated andesitic volcanics. These prospects have been mapped and sampled in detail this year, and Caza is currently developing drilling plans for these targets.
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
For more information, please contact the Company at Toll Free: 1-877-684-9700, tel: (604) 685-9750, fax: (604) 685-9744, email: email@example.com or visit our website, www.cazagold.com
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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.
Figure 1 – General Location of Airborne Survey
Figure 2 – Overview of Magnetic and Radiometric Data
Figure 3 – Interpretation showing anomalous areas and major lineaments