VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/07/13 -- Greg Myers, CEO and President of Caza Gold Corp. (TSX VENTURE: CZY)(OTCQX: CZGDF)(FRANKFURT: CZ6), is pleased to provide shareholders with the following update of the results of Caza's 2012 exploration and reconnaissance programs and the outlook for 2013.
Caza is very encouraged with the initial exploration results in Nicaragua during 2012. Drilling at the Los Andes high-sulfidation epithermal gold project confirmed an extensive and well developed alteration and mineralized system in the Pedregal Zone, but did not intercept economic mineralization in the first 6 drill holes. Most of the world's high-sulfidation gold deposits have required dozens of exploration drill holes before intersecting an economic gold intercept. We are excited to have discovered an upper 120 meter thick oxidized zone underlain by at least 150 meters of strongly silicified, sulfide bearing rocks, with anomalous gold, copper, and silver. No drill holes were able to drill through the alteration and sulfide bearing zone into unaltered rocks beneath the extensive silicified and clay altered volcanic rocks.
In addition to our encouragement at Los Andes, Caza's regional program discovered a large copper-gold system at the Piedra Iman Target in northern Nicaragua within the Aguas Calientes Property. The initial reconnaissance sampling returned a gold assay of 45.9 grams per tonne (gpt) in a silicified and weakly iron stained igneous rock. Follow up sampling confirmed a gold-copper zone at least 800 meters long by 300 meters wide as reported in Caza's December 4, 2012 news release.
Mapping and sampling continued during 2012 at the Balleza Project in Mexico and several new gold and silver targets were identified. Extensions to the low grade mineralized zone drilled in 2011 and multiple zones of veins and vein stock-works with high gold and silver values were discovered.
Los Andes Project, Nicaragua
-- Los Andes -- Pedregal: Drilling confirmed a well-developed, high sulfidation system at least 250 meters thick, which contains intervals of nearly massive pyrite with lesser enargite, digenite, and chalcocite. Six drill holes have been completed at the Pedregal target. The first 5 were closely spaced fans of holes to determine the orientation of the altered zones. The sixth hole was a 350 meter step-out targeting Au, Ag, and Cu soil anomalies. Thin intervals of elevated silver and gold were intersected, (best intercepts 1.3 meters of 2.1 gpt Au and 1.8 meters of 305 gpt Ag). -- Quisaltepe: Progress has been made with the local community and land owners to gain access to drill target areas. -- Rodeo: Three holes were completed in the low temperature opal- chalcedony zone. The drill holes cut about 50 meters of strongly silicified rock and passed into chlorite altered andesite. Minor gold anomalies were intersected in the drilling.
Agua Caliente Property
-- Piedra Iman: The Piedra Iman copper-gold target has been extended to an area at least 800 meters long by 300 meters wide. Very little reconnaissance has been completed in the area and the ultimate extent of altered igneous rocks with gold and copper values is not known. Several old drill pads have now been discovered in the field and the reported collapsed portal of an exploration drift has been located. Assay results from the first 125 surface rock chip samples in an area 800 meters long by 300 meters wide at the Piedra Iman target in Northern Nicaragua. Thirty seven of the 125 samples collected by the Company contained more than 0.1 gpt gold with 12 samples containing more than 0.5 gpt gold up to 45.99 gpt. Copper values range from 0.01% to 1.82% and 41 of the 125 samples are over 0.5% copper. Magnetite and specular hematite are common in the mineralized zone. Alteration consists of several highly silicified igneous breccia bodies surrounded by sericite- and clay-altered intrusive rocks. The initial interpretation of the limited rock exposures suggest the mineralization could be related to a porphyry copper-gold system or an IOCG (iron oxide-copper-gold) system.