VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/11/11 -- Greg Myers, CEO and President of Caza Gold Corp. (TSX VENTURE: CZY)(FRANKFURT: CZ6) is pleased to announce the results of a recent rock sampling program at the Balleza gold target on Caza's Moris Property, located 20 kilometers west of Gammon Gold's Ocampo gold mine in Chihuahua state, Mexico.
Caza Gold is very encouraged by the initial assay results received from the rock sampling program at Balleza that commenced in November and December 2010 after completion of the Company's recent listing on the TSX Venture Exchange. Assay results from the first 176 samples effectively double the size of the Balleza gold target area.
Click here for a video summary of news release:
http://cazagold.com/news/videos/index.php?&content_id=46
The new chip and channel sampling results assay from nil up to 11.8 grams per tonne (gpt) gold. Ninety-one of the 176 samples grade more than 0.3 gpt gold and average 1.1 gpt gold. Two continuous channel samples on road cuts over the Balleza gold target returned assays of 0.43 g/t Au over 18.5 meters (6.9 meters true width) and 0.60 g/t Au over 89.5 meters (33 meters true width) including an average assay of 0.83 g/t Au over 53.5 meters (20 meters true width).
The Balleza gold target area is now over 1200 meters long and up to 400 meters wide, which doubles the area of the previously known mineralized zone. A total of 310 samples from the Balleza zone have been collected by Caza, Exmin, and Hochschild in recent years and 134 of these samples assay higher than 0.3 gpt Au and average 1.6 gpt gold.
Click here for Balleza sample location map:
http://cazagold.com/_resources/balleza_au2-jan11-11.pdf
The Balleza gold target lies within the much larger Balleza-La Cienega district on the Moris Property that covers a mineralized structure zone over 7 kilometers long. The district hosts at least 14 historic mine workings and 30 additional mineralized zones discovered to date.
Sampling in the Balleza zone has identified two types of gold mineralization: quartz stock-works and disseminated sulfides, both types hosted within silicified rhyolite dikes. The higher-grade stock-works outcrop in an area approximately 900 meters long and up to 40 meters wide. The hillside below the stock-works is covered with up to house-size mineralized boulders, which also carry higher-grade gold values. The boulder field extends from the ridgeline, where the stock-works outcrop, north to a creek approximately 300 meters away and 150 meters lower in elevation.
Detailed mapping and sampling of the Balleza gold target will continue to further explore the extent of the silicified dikes, stock-works and disseminated zones of mineralization in order to define drill targets for drilling within the next three months.
The Balleza Project is part of the Moris Property (16,209 hectares) located about 250 kilometers west of Chihuahua City. The property is situated within the Sierra Madre Gold-Silver Belt, a prolific mineralized region with multiple gold-silver epithermal vein deposits, including the Moris (Hochschild), Ocampo (Gammon Lake), Pinos Altos (Agnico Eagle) and Dolores (Minefinders) mines.
Assay results for continuous rock chip channel sample OC10-6
and selected grab rock chip samples
------------------------------------------ ---------------------------- Sample # Continuous Sample # Rock Channel Sample Width Chip Grab OC10-6 (meters) Au ppm Samples Au ppm ------------------------------------------ ---------------------------- 62633 2 0.243 11330 11.795 ------------------------------------------ ---------------------------- 62634 2 0.239 62501 3.428 ------------------------------------------ ---------------------------- 62635 2 0.595 11321 2.602 ------------------------------------------ ---------------------------- 62636 2 0.144 11322 2.428 ------------------------------------------ ---------------------------- 62637 2 0.309 62711 2.074 ------------------------------------------ ---------------------------- 62638 2 0.507 62712 2.000 ------------------------------------------ ---------------------------- 62639 2 0.195 62728 1.913 ------------------------------------------ ---------------------------- 62640 2 0.39 11323 1.732 ------------------------------------------ ---------------------------- 62641 2 0.211 62632 1.592 ------------------------------------------ ---------------------------- 62642 2 0.725 11324 1.372 ------------------------------------------ ---------------------------- 62643 2 0.389 11309 1.363 ------------------------------------------ ---------------------------- 62644 2 0.23 62694 1.318 ------------------------------------------ ---------------------------- 62646 2 0.424 12091 1.242 ------------------------------------------ ---------------------------- 62647 2 0.516 11312 1.159 ------------------------------------------ ---------------------------- 62648 2 0.628 62064 1.149 ------------------------------------------ ---------------------------- 62649 1 0.798 12090 1.098 ------------------------------------------ ---------------------------- 62651 1 0.686 11327 1.064 ------------------------------------------ ---------------------------- 62652 1 0.647 12097 1.012 ------------------------------------------ ---------------------------- 62653 1 1.614 12098 0.997 ------------------------------------------ ---------------------------- 62654 2 0.813 11320 0.966 ------------------------------------------ ---------------------------- 62655 2 1.035 11333 0.927 ------------------------------------------ ---------------------------- 62656 2 0.641 62699 0.903 ------------------------------------------ ---------------------------- 62657 2 0.578 11310 0.898 ------------------------------------------ ---------------------------- 62658 2 0.589 62703 0.888 ------------------------------------------ ---------------------------- 62659 2 0.453 11315 0.875 ------------------------------------------ ---------------------------- 62660 2 1.534 11325 0.873 ------------------------------------------ ---------------------------- 62661 2 0.556 12094 0.836 ------------------------------------------ ---------------------------- 62662 2 1.351 62707 0.798 ------------------------------------------ ---------------------------- 62663 2 0.77 12093 0.760 ------------------------------------------ ---------------------------- 62664 2 2.602 12086 0.748 ------------------------------------------ ---------------------------- 62665 2 0.596 6448 0.732 ------------------------------------------ ---------------------------- 62666 2 0.811 62695 0.700 ------------------------------------------ ---------------------------- 62667 2 1.224 11318 0.680 ------------------------------------------ ---------------------------- 62668 2 0.694 12092 0.662 ------------------------------------------ ---------------------------- 62669 2 1.394 12095 0.623 ------------------------------------------ ---------------------------- 62671 2 2.95 11332 0.609 ------------------------------------------ ---------------------------- 62672 1.5 0.666 12096 0.608 ------------------------------------------ ----------------------------
Greg Myers, Ph.D., P.Geo., is the Qualified Person who reviewed and approved the contents of this news release. All Caza rock and soil samples were prepared at the Inspectorate prep lab facility in Durango and analyzed at their Reno, Nevada analytical labs. The rock chip channel samples were continuous samples collected over a 10 cm wide by 1 or 1.5 m channel. Rock chip grab samples were random and representative of the rock or alteration type on the outcrop. Samples collected by Hochschild and Exmin were analyzed at the ALS Chemex labs in Hermosillo, Mexico.
Caza Gold Corp. is an exploration company focused on the acquisition and exploration of strategic gold properties in Mexico and Latin America.
CAZA GOLD CORP.
Greg Myers Ph.D., P.Geo., President and CEO
CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS
Certain statements contained herein constitute "forward-looking statements" within the meaning of applicable securities laws. 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 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 accepts responsibility for the adequacy or accuracy of this release."
Contacts:
Caza Gold Corp.
Gregg Wilson
(604) 685-9750 or Toll Free: 1-877-684-9700
(604) 685-9744 (FAX)
gregg@cazagold.com
www.cazagold.com
