VANCOUVER, BRITISH COLUMBIA--(Marketwire -04/10/12)- Greg Myers, CEO and President of Caza Gold Corp. (TSX-V: CZY.V - News)(Pinksheets: CZGDF.PK - News)(Frankfurt: CZ6.F - News), announces that the Company's ongoing Nicaragua Regional Exploration Program has identified a new high sulfidation epithermal gold target named Las Lajas on its 100% owned La Borbona Property in Nicaragua.
La Borbona is located approximately 15 kilometers (km) southwest of Caza's key Los Andes Property where the Phase 1 exploration drill program is scheduled to commence shortly. Gold mineralization and alteration at Las Lajas has been identified in initial surface rock chip and soil samples from an area of strong silicification and advanced argillic to argillic alteration approximately 1.6 km in diameter inside a 7 km diameter volcanic caldera.
A total of approximately 160 soil samples collected on a 50-100 m spaced grid returned anomalous values ranging up to 40 ppb gold accompanied by strongly anomalous tellurium, bismuth, and selenium. The geochemically anomalous zone is hosted by strongly altered volcanic rocks and breccia bodies and is interpreted to sit high up in the hydrothermal system. Such high level targets are often considered to be the uppermost expressions of prospective high sulfidation epithermal gold deposits.
Work is continuing to explore the 25 km long Los Andes-Pochote gold bearing structure. The Company has identified more than 14 gold target areas based on rock chip sampling along the structure.
Preparations for drilling on the Los Andes Property are nearing completion at the Quisaltepe and Pedregal targets. Swissboring SA de CV has been contracted for the Phase 1 Los Andes drilling program and permitting, road and pad building are well advanced for equipment mobilization within the next two weeks.
The Company is also delighted to announce that Mr. Bruce Korhonen has joined Caza Gold Corp. as the Director of Investor Relations, effective immediately. Mr. Korhonen has been involved in the public markets for over 12 years, and has extensive experience in Investor Relations, marketing and corporate finance. In his roles with other junior mining companies, Mr. Korhonen has not only raised many millions of dollars, he has also developed and implemented successful IR communication strategies. A total of 100,000 incentive stocks options have been granted to Mr. Korhonen, which shall vest according to TSXV regulations of 25% after 3 months, and 25% every 3 months thereafter, being 100% vested in 12 months, subject to Board and TSXV approval with a strike price of $0.26. The Options will be valid for a term of 3 years.
"We are very pleased to have Mr. Korhonen join Caza. Bruce and I worked together previously and I have great confidence in his abilities. He will help us build our shareholder base globally and improve communications as we move into the next stage of building Caza's projects into discoveries," commented President and CEO, Dr. Greg Myers. Mr. Korhonen will coordinate the investor relations activities during Gregg Wilson's indefinite leave of absence for health reasons.
Greg Myers, Ph.D. P. Geo, CEO of the Company, is the Qualified Person who reviewed and approved the contents of this property update.
Caza Gold Corp. is a growth-oriented gold exploration company listed on the TSX-V: CZY, FSE: CZ6, and OTC Pink Sheet: CZGDF. 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
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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.
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