Vancouver, Canada – August 26, 2015 – Brian Arkell, CEO and President of Caza Gold Corp. (the “Company” or “Caza”, TSX-V: CZY, FSE: CZ6) is pleased to announce commencement of the 2015 exploration programs on the Piedra Iman Project near Villa Nueva, and the Las Lajas Project near Tecolostote in Nicaragua. In addition, exploration work continues on the Los Andes Project near Boaco.
Piedra Iman is part of the 7947 hectare Aguas Calientes concession near Villa Nueva in northern Nicaragua. The Aguas Calientes concession is 100% owned by Caza. Initial work has identified a copper and gold anomaly on the surface covering an area of approximately 800 meters by 400 meters. Values up to 1.0% Cu and 11.0 g/t Au have been obtained from rock chip samples within a granodiorite intrusive complex. The periphery of the system is mostly covered, although copper minerals have been identified in road cuts and the mineralization appears to cover an area of several kilometers. Caza’s geologists believe the mineralization may be related to a porphyry style copper gold system or an intrusive breccia system.
Caza’s work plan at Piedra Iman includes detailed outcrop mapping and sampling of the main area of exposed mineralization as well as work along the periphery to help determine the extent of the system.
To the southwest of the Piedra Iman target, previous work has identified a number of gold anomalies in stream sediment and reconnaissance rock samples. Numerous older workings in this area suggest there is mineralization associated with a regional trend of quartz veins. Upon completion of the work at Piedra Iman, Caza plans to do follow-up reconnaissance prospecting on these anomalies.
Las Lajas is a copper-gold target some 12 kilometers northwest of the town of Tecolostote, in the Boaco Department, Nicaragua. The prospect lies within the 12,178 hectare La Borbona concession, and is 100% owned by Caza.
The Las Lajas prospect occurs within a two kilometer northwest trending zone of altered andesitic volcanic rocks. Work to date has defined a two by two kilometer copper-in-soils anomaly with anomalous gold in places. Copper values up to 250 ppm were identified within the soil grid with gold-in-soils up to 40 ppb Au. Rock chip samples have copper assays up to 364 ppm Cu.
Caza’s geologists believe the alteration and mineralization at Las Lajas may represent the upper reaches of a porphyry copper-gold system. The Company plans to do detailed outcrop mapping and sampling of exposed areas, along with expansion of the existing soil sampling grid to help define the extent of the system.
Los Andes Update
Samples from four diamond drill holes from the San Francisco drilling are in process at the assay lab with results expected in the near future. At the Pedregal target, all fieldwork has been completed, and the Company has designed plans for a drilling program. Road construction is underway and the Company expects to commence drilling in September. In the meantime, field crews are working on a number of new prospects within the greater Los Andes District, including El Cacao and other targets in the north and central parts of the district.
Sampling, Analytical Methods, and QA/QC
Caza has a quality control and quality assurance program in place for all projects based on industry best-practice standards and guidelines. Surface samples are collected following established procedures and protocol under the supervision of Company geologists. Samples are bagged and labeled in the field, then transported to a secure storage area. Coarse, blind, blanks and blind commercial standard gold reference materials for analysis control are inserted in the sample stream. Samples in sealed bags are transported to the primary laboratory by Company or Inspectorate personnel. All samples were prepared at the Inspectorate prep facility in Managua, Nicaragua and analyzed at applicable Reno, Nevada or Vancouver, British Colombia analytical labs. Analyses are done following industry best-practice standards and guidelines and include multi-acid digestion followed by fire assay, gravimetric, AA, or ICP methods. Assay results along with blanks and standard reference material results are reviewed by Company personnel and found to be within acceptable ranges. Data is then imported directly into a secure database by a Company database specialist.
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
“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.