Drilling earlier in 2006 and in 2004 both confirmed the presence of a very extensive porphyry style copper-gold system as well as peripheral high sulphidation gold-silver targets. (See News Release of February 28, 2006)
Two southern porphyry centres remain untested and have high-grade gold and silver mineralization on surface. One of the centres has gold grades of up to 15 grams per tonne (gpt) and silver up to 117 gpt from an extensive siliceous quartz stockwork zone covering a minimum area of 500 by 300 metres.
Future drilling will be carried out on the two southern near surface targets and a northern high sulphidation gold-silver target. Deeper drilling on the northern porphyry target is also recommended.
The gold-copper-silver mineralizing system at Alto Dorado is delineated by anomalous levels of gold, copper, molybdenum and silver in soils and rocks as well as typical porphyry and epithermal style alteration which all cover an area 9 km by 2 to 3 km. Within this area an Induced Polarization (IP) chargeability anomaly (often associated with sulphide gold and copper mineralization) covers 7 km by 2 km.
The 2006 drilling was funded by Gallipoli Mining of Australia ("Gallipoli") who had the right to earn up to a 65% interest in the Alto Dorado property (Candente News Releases December 8th and 21st, 2005).
For more technical information on the Alto Dorado property please refer to:
http://www.candente.com/s/Projects_Peru.asp?PropertyInfoID=655&View=1.
Sampling and analytical procedures conform to NI 43-101 standards and are detailed in previous Candente news release dated September 16, 2004. All samples will be submitted to Actlabs in Lima, Peru. Michael Casselman, P.Geo. and Joanne Freeze, P.Geo., are the Qualified Persons for the project as defined by NI 43-101 and Joanne Freeze has reviewed this news release.
Candente is a diversified copper and gold exploration company focused on increasing shareholder value through discovery. In addition to the Alto Dorado Property, Candente has an advanced exploration stage leachable copper project, Cañariaco, and several other gold, copper and silver projects in Peru. Candente subscribes to principles which ensure that its exploration and development activities are beneficial to the local communities.
Joanne Freeze, P. Geo.
President & CEO
Release No. 164
For further information please contact:
Kelly Gray or Evelyn Cox
(604) 689-1957 or toll free 1-877-689-1964
E-mail: info@candente.com
www.candente.com
This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Candente relies upon litigation protection for forward-looking statements.