-- Posted Tuesday, 10 May 2011 | | Source: GoldSeek.com
Vancouver, Canada – May 10, 2011 – Greg Myers, CEO of Caza Gold Corp. (TSX-V: CZY and Frankfurt: CZ6) is pleased to announce that additional rock sampling has defined an intrusive-hosted, bulk-tonnage gold target at the Balleza Zone located on Caza’s Moris Property in southwestern Chihuahua, Mexico.
Assay results from 575 rock chip samples collected by Caza in 2010 and 2011 have defined an initial 500 meter (m) long by up to 400 m wide drill target (see map at http://cazagold.com/_resources/maps/Balleza_au2.pdf) that includes 237 samples exceeding 0.3 grams per tonne (gpt) gold and averaging 1.27 gpt gold.
Gold occurs mainly with fine pyrite in quartz veins and stock-works associated with a zone of potassic alteration hosted by a mineralized rhyolite to dacite dike and volcanic tuffs overlying the dike. The strongest zone of gold mineralization, quartz stock-works and potassic alteration extends over an area 1200 meters long and by 400 meters wide within a larger northwest-trending gold zone measuring over 3.5 km long by up to 800 meters wide. Rock sampling of the vein and stock-work zones returned gold assays up to 35 gpt.
A Phase 1, 4000 m, 15 hole diamond drill program is scheduled to begin in May to test the 500 m long central core area of gold mineralization within the potassic altered dacite dike. Drill pad construction and access has been completed and Caza is waiting final confirmation of the drill mobilization date.
The Balleza Zone is part of the much larger Balleza-Cienega Project area on the Moris Property. The mineralized dike and structural zone is over 7 kilometers long and hosts at least 14 small historic mine workings. More than 40 additional mineralized rock outcrops have been discovered to date. More field work is planned after the Phase 1 drilling to continue defining new gold targets at Balleza.
Caza’s President and CEO Greg Myers stated, “The definition of our first intrusive-hosted, bulk-tonnage gold target at Balleza is an exciting next step in our understanding of this large, prospective area. Historically Balleza was known for its high grade quartz veins so this intrusive-hosted, bulk-tonnage gold target is a significant new addition to the overall potential of the area.”
The Balleza Zone is our first target area on the Moris Property (16,209 hectares), located about 250 km west of Chihuahua City. The property is situated in the Sierra Madre Gold-Silver Belt, a prolific mineralized region with multiple gold-silver epithermal vein deposits, including the Moris (Hochschild), Ocampo (Gammon Lake), Pinos Altos (Agnico Eagle) and Dolores (Minefinders) mines. Access to the Balleza project is by all-weather gravel roads from the town of Ocampo 20 km to the east. The town of Moris has good infrastructure and is serviced by a 1,500 foot airstrip.
Greg Myers, Ph.D. P. Geo., is the Qualified Person who reviewed and approved the contents of this news release. All Caza samples were prepared at the Inspectorate prep facility in Durango and analyzed at their Reno, Nevada analytical labs.
Caza Gold Corp. is a new gold exploration company whose goal is to create shareholder value by discovering gold deposits in Latin America that have the potential to become large tonnage or high grade, profitable gold mines.
CAZA GOLD CORP.
Per:
/s/ Greg Myers
Greg Myers
CEO and President
For more information, please contact Gregg Wilson at
Toll Free: 1-877-684-9700,
Tel: (604) 685-9750,
Fax: (604) 685-9744,
Email: gregg@cazagold.com
Website: www.cazagold.com
"Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release."
CAUTIONARY DISCLAIMER – FORWARD LOOKING STATEMENTS
Certain statements contained herein constitute "forward-looking statements" within the meaning of applicable securities laws. 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 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.
-- Posted Tuesday, 10 May 2011 | Digg This Article
| Source: GoldSeek.com
