-- Posted Tuesday, 4 October 2011 | | Disqus
Vancouver, Canada – October 4, 2011 – Greg Myers, CEO and President of Caza Gold Corp. (CZY: TSX-V and FSE: CZ6), is pleased to announce that initial drill holes from the Balleza gold project on the Moris property in Chihuahua, Mexico have intersected a broad zone of alteration and gold mineralization.
Caza Gold completed 12 holes totaling 3,519 meters (m) of core drilling at Balleza in August and September, 2011. All 12 drill holes intersected wide zones of strong alteration, silicification and stock-work quartz veining similar to surface outcrops and a previous drill hole completed by Hochschild in 2006, which intersected 62 meters grading 0.52 grams per tonne (gpt) gold.
Encouraging assay results have been received from the first 4 holes and the results for the remaining 8 holes are expected by mid to late October. Drilling highlights include 0.54 grams per tonne (gpt) gold over 83.1 meters in hole 2011-04 as follows:
Drillhole | From (m) | To (m) | Width (m) | Au Avg. gpt |
2011-01 | 18 | 37.75 | 19.75 | 0.64 |
including | 19.5 | 25.5 | 6 | 1.11 |
and | 70.35 | 80.55 | 10.2 | 0.66 |
and | 98.8 | 112.7 | 13.9 | 0.52 |
including | 105 | 110.76 | 5.76 | 0.79 |
2011-02 | 32.15 | 49.8 | 17.65 | 0.34 |
and | 62.65 | 129.65 | 67 | 0.4 |
including | 64.83 | 76.91 | 12.08 | 0.66 |
2011-03 | 6 | 15.2 | 9.2 | 0.3 |
and | 32.36 | 50.4 | 18.04 | 0.36 |
and | 83.3 | 118.8 | 35.5 | 0.56 |
including | 85.3 | 89.7 | 4.4 | 1.16 |
including | 99.05 | 106.95 | 7.9 | 0.94 |
2011-04 | 0.7 | 83.8 | 83.1 | 0.54 |
including | 12.2 | 16.2 | 4 | 1.17 |
including | 33.7 | 40.95 | 7.25 | 1.09 |
including | 55 | 62.7 | 7.7 | 1.21 |
| | | | | |
The mineralized zone appears to be up to 100 meters thick and comes to the surface, as confirmed by hole 2011-04, which collared in surface mineralization exposed along several hundred meters of strike length. Intersected widths are assume to be the approximate true thickness of mineralization. Mineralized intervals are calculated as weighted average and may include internal low grade below a nominal 0.1 gpt gold cutoff grade.
Gold mineralization appears to be associated with rhyolitic dikes or sills hosted by strongly altered andesitic to rhyolitic volcanic rocks in the hanging-wall of a prominent fault zone which separates the younger volcanic tuffs, flows, sills, and dikes from an older black shell unit. The gold mineralization occurs with iron oxide-pyrite-silica alteration and higher grades are associated with an increase of quartz stock-works and veins near the underlying fault. Drilling tested approximately 300 meters of strike length along the Balleza gold target, part of a 7 km long regional mineralized structure which hosts several high grade, narrow gold and silver veins and additional low grade, bulk mineable targets.
Caza Gold has a quality control and quality assurance program in place for the Balleza Project. Core samples are collected under the supervision of Company personnel and transported to a secure storage area. Company geologists measure recovery, log the core by standard geologic methods, photograph the core in the boxes, and supervise the cutting of the core using diamond saws. One half of the core is sent for assay and the other half retained for further study and inspections. Coarse, blind, blanks and blind commercial standard gold reference materials for analysis control are inserted in the sample stream. Half-core samples in sealed bags are trucked to the primary laboratory. Blanks and standard reference material results are within acceptable ranges. All samples were prepared at the Inspectorate prep facility in Durango and analyzed at their Reno, Nevada analytical labs.
The Balleza gold project is part of Caza’s Moris Properties (16,209 hectares), located 10 km west of Aurico’s Ocampo Mine and about 230 km northwest of Chihuahua City in Chihuahua State, Mexico. Access is by paved and all-weather gravel roads. Infrastructure is good with state power lines crossing the properties and labor, supplies, and services available in the nearby towns of Moris, Ocampo and Cuauhtemoc.
Greg Myers, Ph.D.P.Geo is the Qualified Person who reviewed and approved the contents of this news release.
Caza Gold Corp. (TSX-V: CZY, FSE: CZ6), is an exploration company focused on the acquisition and exploration of strategic gold properties in Mexico, Nicaragua and Latin America.
CAZA GOLD CORP.
Per:
/s/ Greg Myers
Greg Myers Ph.D. P. Geo.
President and CEO
For more information, please contact Greg Myers at Toll Free: 1-877-684-9700, tel: (604) 685-9750, fax: (604) 685-9744, email: gmyers@cazagold.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
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, 4 October 2011 | Digg This Article
| Source: GoldSeek.com
