Caza Gold Announces 2014 Exploration Program for the Los Andes-Quisaltepe and San Francisco Gold Targets in Nicaragua
13 February 2014 - 12:00AM
Marketwired
Caza Gold Announces 2014 Exploration Program for the Los
Andes-Quisaltepe and San Francisco Gold Targets in Nicaragua
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 12, 2014) - Greg
Myers, CEO and President of Caza Gold Corp. (the "Company")
(TSX-VENTURE:CZY)(OTCQX:CZGDF)(FRANKFURT:CZ6), is pleased to
announce that the Company has initiated the 2014 exploration
program at the Los Andes and Pochote properties in Nicaragua. The
Company is planning a large airborne geophysical survey and a
drilling program which will test 2 of the highest priority gold
targets.
Plans are underway
to complete a geophysical survey along a 12 kilometer long trend of
continuous alteration within the Los Andes and Pochote claims,
followed by a drilling program to test two gold targets not
previously drill tested during the 2012 Pedregal program. The
upcoming drilling will test the Quisaltepe and San Francisco gold
zones. Access agreements have been obtained for the San Francisco
area and drill access road construction is underway. Negotiations
for access in the Quisaltepe area are being finalized. The drilling
program is expected to begin, pending contractor scheduling, by
April and is planned to complete approximately 10 to 15 holes each
200 to 250 meters deep. A dedicated budget of approximately CDN$1.3
million has been set aside from the proceeds of the December 2013
CDN$2.5 million financing to execute the exploration program.
The Company has
contracted Aeroquest Airborne to complete the helicopter based
geophysical survey which will cover approximately 36 square
kilometers over the Pedregal, Quisaltepe and San Francisco gold
targets acquiring versatile time domain electromagnetic (VTEM) and
magnetic data along approximately 530 line kilometers at 100 meter
line spacing. The survey is scheduled to begin in March pending the
importation of the survey equipment and final scheduling of
personnel and equipment. Geophysical survey results in conjunction
with geochemical results, structural and alteration mapping will
further define the drilling locations.
The VTEM and
magnetic data are targeting the conductive massive sulfide horizons
and the resistive silicified zones associated with large faults and
possible areas of gold mineralization. The magnetic portion of the
survey will provide additional information identifying the fault
zones and deeper porphyry style mineralization and intrusive
bodies. The survey will cover the Pedregal area, drilled in 2012,
which intersected thick horizons of sulfide mineralization and
strongly silicified zones with elevated but sub- economic gold
concentrations (refer to Nov. 29, 2012 news release for details)
and along the 10 kilometer trend to the San Francisco target at the
south end of the zone.
Caza Gold Corp. is a
gold and copper exploration company focused on discovering new
deposits in Nicaragua. The Company controls the highly prospective
but under-explored claims in the high sulfidation gold trend of
Nicaragua and a copper-gold-iron porphyry system to the north of
the El Limon mine. Caza Gold Corp is dedicated to discovering gold,
defining deposits, and developing value.
CAZA GOLD CORP.
Greg Myers, PhD, P.
Geo, President and CEO
"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.
Caza Gold Corp.Greg Myers or Gregg WilsonToll Free:
1-877-684-9700tel: (604) 685-9750(604)
685-9744gmyers@cazagold.comwww.cazagold.com
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