Vancouver, Canada – October 6, 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 progress of the 2015 exploration programs in Nicaragua at the Los Andes district and the Piedra Iman project.
Los Andes District
The Los Andes district is located near Boaco, Nicaragua one hour east of Managua along the Pan American highway and close to major infrastructure. Caza controls over 6,500 hectares (65 sq. km) covering the district where a number of high-sulfidation, porphyry, and vein targets have been identified. Anomalous gold, silver, and copper mineralization is present on surface associated with altered volcanic rocks, intrusives, breccia pipes, and diatremes.
Recent work has tested two project areas within the Los Andes district: San Francisco and Pedregal.
San Francisco Project
Results have been received for drilling completed in July at the San Francisco project. Caza tested two separate targets on the project: Esperanza and San Francisco Main. At Esperanza, the Company completed two diamond drill holes for a total of 598.80 metres. Both holes drilled through silicified rock on surface and into unaltered andesite volcanic rocks. There were no significant results. At San Francisco Main, two diamond drill holes were completed for a total of 745.60 metres. Drill hole SFO-15-003 drilled through a number of thin quartz-calcite veins, but returned only weakly anomalous values. Drill hole SFO-15-004 tested the Fe vein at depth, which had values up to 6.5 g/t Au on surface. The targeted vein was not intersected, likely due to a change in orientation of the vein. The hole cut two anomalous quartz-carbonate veins, running 1.2 g/t Au from 120.0 to 121.60 metres downhole and 0.2 g/t Au from 200.50 to 202.40 metres downhole. Based on these results, the Company does not plan to pursue further work at San Francisco at this time.
In the northern area of the Los Andes district, Caza has initiated drilling at the Pedregal project. Surface mapping and sampling have outlined a large area along a 2.5 km trend with alteration typical of a high sulfidation system. Soil and rock sampling define a zone of anomalous gold, silver, copper and trace elements, coincident with the alteration. The Company has identified a number of targets in the Pedregal area and plans to complete first pass scout drilling. In addition, the Company will test some of the geophysical targets delineated in the earlier airborne magnetic survey. Drilling is expected to be completed in October of this year.
The Piedra Iman project is part of the 7947 hectare Aguas Calientes concession located in northwestern Nicaragua near the town of Villa Nueva. The Aguas Calientes concession is 100% owned by Caza.
Caza has completed the planned fieldwork for 2015 at Piedra Iman which included detailed mapping on the main target area, along with reconnaissance exploration within the peripheral regions. The detailed mapping has confirmed a large porphyry copper-gold-molybdenum system. The main mineralization is in a copper-gold porphyry system centered on multiple quartz diorite to diorite intrusives. This main porphyry system is in turn cut by a later granitic intrusive containing copper-molybdenum-gold. Potassic and sericitic alteration are present with chalcopyrite, bornite, and pyrite. Molybdenite was identified in the later granitic intrusive.
The Company is currently compiling and assessing the data on Piedra Iman and is planning to do follow-up work in 2016.
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.
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: firstname.lastname@example.org 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.