Balleza Project, Moris Property, Mexico
Mapping and rock chip sampling was expanded along the 7 kilometer long mineralized trend in the Balleza-Cienega zone. Multiple gold and silver bearing veins zones were better delineated and new areas were discovered which not only include individual or sub-parallel sets of veins, but several areas of gold bearing vein stockworks and additional silicified dacite dikes similar to the Balleza zone which was drilled in 2011. The Balleza drilling tested a 300 meter long zone within a 1200 meter long mineralized zone of outcropping silicified dacite and overlying silicified rhyolitic tuff. This zone is up to 140 meters in true thickness from the surface and drill hole simple weighted average grades range from 22 meters grading 0.42 gpt gold to 137.8 meters grading 0.64 gpt gold using a 0.1 gpt gold cutoff and including internal waste below the cutoff grade. The area drilled tested approximately 25% of the outcropping target area. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the discovery of a mineral resource. Vein sampling, in multiple zones along the 7 km long trend, returned assays from nil to 18.46 gpt gold with silver values from nil to 723 gpt.
2013 Outlook
Caza will work to advance 3 projects during 2013, the Los Andes and Piedra Iman projects in Nicaragua and the Balleza project in Mexico. The Company will also pursue a strategic partner to assist in advancing projects in Nicaragua. Work programs in Nicaragua will focus on further defining drill targets by completing a large airborne geophysical survey over the Los Andes and Piedra Iman targets and utilizing this new data with existing alteration mineralogy and geochemical results.
-- Los Andes Project: Caza is planning an airborne geophysical survey to assist in drill targeting early in 2013. Drilling confirmed the presence of extensive silicification and sulfide mineralization, both of which will be detected in the TDEM (time domain electromagnetic method), aeromagnetic, and radiometric geophysical survey. Other companies have found this survey to be a useful addition to mapping and geochemical analyses of the surface rocks. Caza plans to utilize this data to help target drillholes in the Quisaltepe gold zone and will initiate the drilling once the geophysical results are completed and access roads are completed.-- Piedra Iman Project: Caza is planning a follow-up mapping program and an airborne geophysical survey (TDEM, aeromagnetic, and radiometric) to assist with drill targeting. Permit applications have been submitted and approval is expected by mid 2013. Once environmental permits are approved Caza plans an initial drilling program to test the copper and gold bearing outcrops.-- Balleza-Cienega: The 2013 exploration program at Balleza will continue mapping and sampling along the 7 km long mineralized trend in order to define and prioritize additional drill targets. Trenching programs are planned to further delineate the high grade gold and silver bearing vein systems and stockwork zones believed to feed larger, low-grade target areas. Drilling is planned for later in 2013 pending favorable mapping results.
Dr. Myers, President and CEO commented, "I am excited with the drilling at Pedregal in 2012. When the drill core came out of the ground we could not have hoped for better looking rock, the drill core was beautiful from the beginning of the hole to the end. We were disappointed when we received the assays which contained anomalous but un-economic values for gold, but we are certainly on the right track. The addition of the new high grade gold and copper discovery at Piedra Iman is a great success for the regional exploration program. I am looking forward to an exciting 2013!"
Greg Myers, Ph.D. P. Geo, is the Qualified Person who reviewed and approved the contents of this news release.
Caza Gold Corp. (TSX VENTURE: CZY)(OTCQX: CZGDF)(FRANKFURT: CZ6) is a growth-oriented gold exploration company focused on discovering gold deposits in Latin America and is currently working in Nicaragua and Mexico. The Company controls one of the largest mining claim positions in the highly prospective but under-explored country of Nicaragua. Company management includes geologists and business professionals with extensive exploration and mining experience and a proven track record of mineral discovery and mining success, with the determination to succeed again. Caza is dedicated to building shareholder value, working responsibly in the local communities, and protecting the environment.
CAZA GOLD CORP.
Greg Myers, President and CEO
CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS
Certain statements contained herein constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. 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 and United States 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.
"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."
Contacts:
Caza Gold Corp.
Greg Myers
Toll Free: 1-877-684-9700 or (604) 685-9750
(604) 685-9744 (FAX)
gmyers@cazagold.com
www.cazagold.com
