Caza Gold Corp. (TSX.V - CZY) is a new gold resource company focused on acquiring, exploring and developing gold mining properties in Mexico. Currently Caza holds two attractive gold exploration projects.
The Santiago gold project (962 hectares) is located 12 km east of the town of Batopilas - a famous high-grade silver district - 20 km east of Goldcorp's multi-million ounce El Sauzal Gold Mine and 230 km southwest of Chihuahua City in Chihuahua State, Mexico.
Infrastructure is very good with state power lines crossing the properties and labor, supplies and services all available locally.
The Santiago project has been owned by the same family for over 100 years and has never been explored by modern methods.
Caza can acquire a 100% interest in the Santiago concessions (173 hectares) by making US$2 million in cash payments over a five year period, spending US$200,000 on exploration within the first 2 years, and by granting a 2% net smelter royalty on mineral production to the vendor.
As part of the Moris package (see below) acquisition Caza acquired a 100% interest in a 791 hectare portion of EXMIN's Huimayvo concession surrounding the Santiago concessions.
The Santiago property covers a prominent iron oxide-silica-clay alteration zone (traced for over 500 m) surrounding multiple, parallel, high-grade, gold-quartz-sulfide veins.
Recent rock-chip sampling by Caza geologists (who sampled three of the eight known veins in the North Zone) returned consistently high grade gold assays including 30.3 grams per tonne (gpt) gold over 2.3 m in the Veta Blanca, 144.0 gpt over 1.5 m in the Veta Tajos and 17.7 gpt gold over 2.5 m in the Veta Verde.
Pathfinder elements are elevated in the alteration zone and may be indicators of better gold grades at depth outside of the high grade vein zone.
Moris District, Chihuahua
The Moris gold project (16,209 hectares) is located in the Moris district of Mexico's western Chihuahua State, 250 kilometers west of Chihuahua City. Western Chihuahua is a well mineralized region with multiple gold-silver epithermal vein deposits - the Moris (Hochschild), Ocampo (Gammon Lake), Pinos Altos (Agnico Eagle) and Dolores (Minefinders) mines.
Access is by paved and all-weather gravel roads from the town of Ocampo 20 km to the east. The town of Moris has good infrastructure and is serviced by a 1,500 foot airstrip.
Caza controls several prospective mineralized zones including possible extensions to the Moris mine and both recent and historic gold prospects in the Tecolote and Balleza-La Cienega sub-districts.
The Balleza-La Cienega area provided most of the historic gold-silver production from the Moris district.
Multiple small mines exploited high-grade veins along structural zones several kilometers in length.
The Balleza target consists of a wide zone of silicification and quartz stock-works within, and near, a large dacite dike similar to the Dolores deposit of Minefinders.
Sampling results are encouraging: out of a total of 135 samples - including silicified dike, stockwork zones and veins - 74 were above a 0.3 gpt cutoff grade and averaged 2.27 gpt Au. Twenty-four silicified dike samples averaged 1.66 gpt Au.
Two continuous chip samples were collected from the dike zone with silicification and stockwork veining. One sample was 16.5 m containing 1.75 gpt Au (Hochschild) and another, over 15 m, contains 1.715 gpt Au (Caza). These chip samples are 180 meters apart in similar silicified dike rocks along strike.
The resistant silicified knob of the dike is 500 m long by 150 m wide and bounded by a well defined fault zone. Car sized mineralized boulders with strong quartz veining cover the hill below the silicified knob. Hochschild drilled two holes to the south of the silicified dike outcrops, one of which intersected a wide mineralized interval of 62.4 meters grading 0.53 g/t Au 100 meters below the outcropping dike.
No follow-up drilling was ever conducted on these properties and the mineralized zones remain open along strike and down dip.
The Tecolote vein system outcrops west of the Moris mine and includes numerous gold bearing vein, stock-work and silicified zones up to dozens of meters in width over a 2.5 km strike length and 500 m in vertical extent.
The three holes drilled in 2006 by Hochschild intersected a strong gold mineralized system, including 0.6 gpt gold over 40.8 m and 1.1 gpt over 17.1 m.
Greg Myers, Ph.D., P.Geo., president and CEO, has 30 years experience in mining as an exploration and production geologist, manager and executive in Mexico, Peru, and North America working for BHP Billiton, Phelps Dodge, Kennecott, Newmont, and other companies. Dr. Myers has had several successes including: seven new discoveries in old mine districts, significant mine expansions, major acquisitions, completed several feasibility studies and re-starts of past-producing gold and copper mines.
Bradford Cooke, M.Sc, P.Geo., chairman, is the founder, chairman and CEO of Endeavour Silver Corp. and Canarc Resource Corp. Brad has 34 years experience as a professional geologist, manager and executive in the mining sector - including mineral exploration and project management for Shell, Chevron, Noranda and corporate development and finance for several junior mining companies.
Stewart Lockwood, LLB, MBA, corporate secretary and director, is a partner in Vector Corporate Finance Lawyers. Stewart has 22 years experience in corporate and securities law where his focus was on natural resources and mining. Stewart's a past Chair of the British Columbia Securities Commission Security Policy Advisory Committee and worked for several years as a securities regulator at the VSE.
Anthony Hawkshaw, BBM, CA, director, is the founder and CFO of Rio Alto Mining with 30 years experience as a professional accountant, manager and executive in the mining industry. Tony has worked for Falconbridge Nickel, Echo Bay Mines and Pan American Silver
Craig Gibson, Ph.D., P. Geo., consultant, has more than 20 years of experience as an exploration geologist for large and small companies in Latin America. Craig has extensive experience managing project operations from the startup through development stages. His track record includes participation in exploration programs that have resulted in several discoveries in Mexico. Craig is fluent in Spanish, with extensive experience both living and working in Mexico and Peru.
Marco Montecinos, geologist, consultant, has over 25 years experience in exploration projects and business development in the Americas. Marco has worked as senior consultant to Intrepid Mines Ltd in the Americas and Australia, as vice president of exploration for Montana Gold and for numerous junior, intermediate and senior companies including Francisco Gold, Phelps Dodge, Placer Dome, Billiton, Alta Gold and Nerco Minerals. Marco was instrumental in the discovery of the Marlin Deposit in Guatemala and other gold deposits in Nevada, Mexico, and Central America. Marco is a native of Chile and fluent in Spanish.
- Shares Issued: 35.15 million
- Warrants and Options: 8.11 million
- Fully Diluted: 43.26 million
- Insider Shares:3.1 million
- Working Capital: CA$2.5 million
- Debt: nil
Caza Gold is a brand new, extremely well managed, cashed up ground floor entry opportunity. Opportunities such as this do not come along very often. Caza Gold (TSX.V - CZY) should be on every investors radar screen.
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This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Richard Mills has based this document on information obtained from sources he believes to be reliable but which has not been independently verified; Richard Mills makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of Richard Mills only and are subject to change without notice. Richard Mills assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Furthermore, I, Richard Mills, assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information provided within this Report.
Richard Mills does not own shares of Caza Gold Corp. TSX.V - CZY
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