Las Sorpresas 54% - Epithermal Gold-Silver Prospect
Columb 51% - Porphyry Copper-Gold Prospect
El Ti 51% - Epithermal Gold-Silver Prospect
Exploration previously carried out by Britannia Gold Corp. on these properties included extensive rock chip, stream sediment and soil sampling as well as trenching, road building, geophysical surveys and limited drilling. Exploration expenditures by Britannia on these properties exceeded US$1.4 million.
On the Columbia Property, three prospective target structures manifest strong copper signatures in surface exposures (0.4% copper over 120 metres (trench) of which 25 metres carries 1.2% copper and 0.42 grams per tonne (g/t) gold and have coincident weak to moderate IP chargeability anomalies. These structures are traceable for over one kilometre and the widths of the zones are from several tens to over one hundred meters. The Las Sorpresas Property is contiguous (south) with the claims covering the Yanacocha deposits (35 million ounces of gold). A mercury anomaly at the northwestern edge of the Las Sorpresas Property is believed to be part of the Cerro Quillish system (the most southerly Yanacocha deposit drilled off to date). On the El Tigre Property, gold mineralization occurs in breccia fragments believed to have a diatrime source. Surface rock chip sampling shows values in excess of 1.0 g/t (and as high as 28 g/t) from 1 to 5 metre chip samples over an area extending two kilometers in length. Limited reverse circulation drilling conducted by Solitario in 1996, delineated anomalous gold values. Due to the nature of reverse circulation drilling, the geology and mineralization controls were poorly understood. Gold values of 1.5 g/t over 4 metres to 9.27 g/t over 1.5 metres indicate that the mineralized breccia fragments continue at depth.
Candente intends to continue exploration on these properties with a focus on drill readiness and pursuing Joint Venture partners. Should the Britannia Group chose not to fund their portions of these exploration programs, Candente will continue to increase its interests in the fore-mentioned properties.
Candente Resource Corp. has been exploring in Peru since 1997 and also holds a 100% interest in four epithermal gold prospects, one porphyry copper-gold prospect and three volcanogenic massive sulphide prospects. A comprehensive overview and property portfolio for Candente Resource Corp. is available on the web at www.candente.com. For more information on our properties and their potential to place Candente Resource Corp. on the leading edge for resource development in this emerging prolific region, please feel free to contact Chris Verrico at (604) 689-1957 or at investor@candente.com.
On Behalf Of The Board Of Directors
Joanne Freeze P. Geo.
President and CEO
This news release was prepared by Management of the Company and they accept full responsibility for its accuracy. The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.