Caza Gold Acquires
Option to Purchase 100% Interest in
Large High
Sulfidation Gold Property in Nicaragua;
Caza Lists on the
Frankfurt Stock Exchange, Symbol CZ6
______________________________________________________________
Vancouver, Canada – December 14, 2010 – Greg Myers, President and
CEO of Caza Gold Corp. (CZY: TSX-V; CZ6: Frankfurt), is pleased to announce
the signing of a letter agreement with Inversiones Ecologica S.A. for an option
to purchase a 100% interest in the Los Andes Gold Property in Nicaragua. The
property covers approximately 6,575 hectares and is strategically located within
the Central Nicaragua Gold Belt between the El Limon and La Libertad Mines of
B2 Gold.
The Los Andes high sulfidation gold system is exposed on surface
as an extensive alteration zone of hydrothermal vuggy quartz, pervasive
silification, and alunite associated with highly anomalous gold, silver, and trace
elements. The alteration zone covers a 45
square kilometer area and measures 12 kilometers long
by up to 6 kilometers wide. It is similar
in size, nature, intensity, and trace element geochemistry to world class gold
deposits such as Yanacocha and Pierina in Peru (see comparable maps
below).
Click here for a video summary of this news release: http://cazagold.com/_resources/videos/Caza_Gold_Los_Andes_Press_Release_Video.html
High sulfidation gold systems are known as "the giant gold
systems" and these types of deposits host the largest gold deposits in the
world, such as the multi-million ounce Yanacocha, Pueblo Viejo, and Pierina
Mines. The alteration zones in these
types of systems contain highly anomalous levels of gold, silver, arsenic, copper,
antimony, bismuth, selenium, barium, and mercury, all of which are highly
anomalous at the Los Andes project and are present throughout the 45 square
kilometer alunite-silica alteration zone.
Click this link for comparison maps: http://cazagold.com/_resources/Comparison_Maps.pdf
Surface samples grading up to 2.5 grams per tonne gold within
alunite-altered and silicified volcanic breccias, were collected by Caza during
recent due diligence sampling. The
property was previously held years ago by First Point Minerals, who conducted
extensive surface rock sampling.
Detailed mapping and sampling of known highly anomalous gold
mineralized zones will commence shortly and take about 6 months in order to
identify high priority gold targets for drilling. A more general reconnaissance mapping and
sampling program in 2011 will attempt to outline the overall extent of the
epithermal gold and silver mineralization.
The
agreement grants Caza an option to acquire a 100% interest in the Los Andes
Property by spending US$2.97 million on exploration, making US$1.2 million in
cash payments (US$45,000 paid on signing) and issuing 1.5 million common
shares, over a 4 year period, subject to a 2% NSR production royalty, and regulatory
and exchange approvals. A formal
purchase opton agreement will be completed within 90 days.
Additionally,
Caza Gold Corp. is pleased to announce that its common shares have commenced
trading on the Frankfurt Stock Exchange under the symbol CZ6.
Greg Myers, Ph.D., P.Geo. is the
Qualified Person who reviewed and approved the contents of this news release. Sampling was supervised by Dr. Myers and
all samples were prepared and analyzed at Inspectorate analytical labs in Reno
Nevada.
Caza Gold Corp. (CZY: TSX-V; CZ6: Frankfurt), is a newly listed exploration company focused on the
acquisition and exploration of strategic gold properties in
CAZA GOLD CORP.
Per:
/s/
Greg Myers
Greg
Myers Ph.D. P. Geo.
President
and CEO
For more information, please contact
Gregg Wilson at Toll Free: 1-877-684-9700, tel: (604) 685-9750, fax: (604)
685-9744, email: gregg@cazagold.com or
visit our website, www.cazagold.com
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.
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.