Caza Gold Announces 2014 Exploration Program for the Los Andes-Quisaltepe and San Francisco Gold Targets in Nicaragua
February 12, 2014 - VANCOUVER, BRITISH COLUMBIA
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
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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.