VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 5, 2012) - Greg Myers, CEO and President of Caza Gold Corp. (TSX VENTURE:CZY)(FRANKFURT:CZ6), is pleased to provide the following update of the exploration program on the San Francisco Project in Nicaragua.
The Company's ongoing Nicaragua Regional Exploration Program has identified a new gold target area on the San Francisco Property, to the south of the Los Andes Property. Gold mineralization has been identified in surface rock chip samples, soil samples, and continuous rock chip trench samples.
A large silicified zone with strong argillic alteration occurs at the intersection of the northeast trending Los Andes Structure and the northwest trending regional structural trend. A circular feature is associated with the structural intersection and is interpreted as a small volcanic caldera approximately 3 km in diameter. Strong silicification and argillic alteration occurs within this caldera and the structural zone.
See map at: http://www.cazagold.com/_resources/maps/nr_2012_03_05_map.pdf.
Soil samples were collected on 50 meter by 50 meter and a 100 by 100 meter grid. A total of 325 soil samples were collected with values ranging from nil to 0.419 gm/T Au, averaging 0.017 gm/t Au. Zones of anomalous gold in soils are approximately 750 meters by 750 meters, and occur over the projection of the regional northwest fault zone and the intersection with the caldera margin. The soil anomalies are open in all directions from the current grid.
Shallow trenches were dug in an area of soil samples ranging from 0.018 to 0.029 g/T Au. Two meter long continuous, rock chip samples in the trenches range from nil to 6.5 gm/T gold. Gold mineralization is related to stockwork quartz veins in clay altered volcanic sediments with strong low-temperature chalcedonic quartz flooding and veining. The altered area is controlled by a northwest trending regional scale fault zone and a north trending cross-cutting fault zone which continues into the Los Andes target zone, 5 km to the north. The Company is currently expanding the soil grid coverage and plans additional trenching to better understand mineralization controls and identify drill targets.
Work is continuing on the Quisaltepe and Pedregal targets in the Los Andes Property in preparation for drilling. Drilling contracts are being finalized and road and drillpad construction is nearly complete.
Greg Myers, Ph.D. P. Geo, is the Qualified Person who reviewed and approved the contents of this news release.
Caza Gold Corp. is a growth-oriented gold exploration company listed on the TSX-V: CZY and FSE: CZ6. The Company is focused on the acquisition and exploration of strategic gold properties in Mexico and Latin America.
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."
Contact Information:
Greg Myers
Toll Free: 1-877-684-9700 or (604) 685-9750
(604) 685-9744 (FAX)
gmyers@cazagold.com
www.cazagold.com