Vancouver, Canada – June 10, 2016 – Caza Gold Corp. (the “Company” or “Caza”, TSX-V: CZY, FSE: CZ6)
Brian Arkell, President and CEO of Caza Gold Corp., is pleased to provide an update on exploration activities currently underway on projects in Nicaragua.
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 15,600 hectares (156 sq. km) of mineral rights covering the district, encompassing multiple epithermal and porphyry targets. Anomalous gold, silver, and copper mineralization is present on surface associated with altered volcanic rocks, intrusives, breccia pipes, and diatremes.
Caza recently initiated field work for 2016 along the northern Los Andes structural trend in the area between the Quisaltepe and the Pedregal / Cerro Coral prospects. Work to date has identified broad zones of strongly silicified and veined andesitic volcanic rocks associated with volcanic necks, flow-dome complexes and breccia pipes. These occur along a regional deep-seated, northeast trending structural corridor.
Caza has completed a first pass of mapping and rock chip sampling in this area. More detailed follow-up work is planned once full results are received. The work is expected to continue into Q3 2016.
Piedra Iman is part of the 7,947 hectare Aguas Calientes exploration license located near Villa Nueva in northern Nicaragua. The Aguas Calientes concession is 100% owned by Caza.
The Company discovered Piedra Iman while undertaking regional reconnaissance exploration. Caza’s 2015 exploration program delineated a zone of strong gold and copper enrichment encompassing an area of approximately 800 meters by 400 meters. Mineralization occurs in a copper-gold porphyry system comprised of multiple quartz diorite to diorite intrusives. The porphyry system is in turn cut by an altered granitic intrusive containing gold, copper, and locally molybdenum. The periphery of the system is mostly covered, although showings of altered rock with copper minerals in road cuts across the prospect indicate that mineralization is likely much more extensive.
The Company recently completed further detailed geologic mapping and rock chip sampling extending the zone of alteration and mineralization another 500 meters to the west. Thirty-seven additional rock chip samples were collected. Assay results are expected shortly.
As mentioned in Caza’s May 20th, 2016 news release, the drilling permit application for Piedra Iman was recently rejected by the Nicaraguan Ministry of Environment (MARENA). Caza is currently reviewing the decision, and pursuing plans to modify and resubmit the application.
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 gold and copper exploration company focused on discovering new 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 425 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 additional information on Caza and our projects, please contact Brian Arkell at 1-720-883-7338 or the Corporate office Toll Free at 1-877-684-9700, email:email@example.com or visit our website, www.cazagold.com
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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.