- Leachable copper from 12 to 300 m vertical in DDH-05-033 expands Southwestern potential starter pit area
- Near surface leachable copper zone expanded by 350 m to the west in northern end of deposit
In addition, 26 m of leachable copper (Cu) grading 0.43% Cu (61% chalcocite) was intersected by DDH 05-034 which was drilled 350 m west of DDH 04-003. DDH 04-003 intersected 22 m of 1.00% Cu which comprises 62% chalcocite. This greatly expands the deposit and the Northern potential (leachable) starter pit area to the west.
Joanne Freeze, President and CEO comments that "the size and grade of the leachable zone at Cañariaco Norte is proving to be very substantial especially when compared to some of Phelps Dodge's Copper mines such as Lomas Bayas in Chile; Piedras Verdes in Mexico and Dos Pobres in the USA. At these operations, Phelps Dodge is mining ore with grades of 0.28% to 0.37% Cu and producing Cu at costs of $0.47 to $0.52 per pound. With Cu selling at over $2.00 per pound it is no surprise that Phelps Dodge's profits are at all time highs."
An Engineering Scoping Study is underway to assist in determining the optimum grade and throughput options required for an economic copper heap leach, SX-EW operation at Cañariaco. The study is being supervised by Merit Consultants of Vancouver, B.C. who have extensive international experience in such operations.
All assays have now been received for the 24 holes drilled by Candente in 2005. Of the 36 holes drilled by Candente to date (in 2004 and 2005) at Cañariaco Norte only 3 have not intersected significant Cu. One of these holes was a drilled to confirm lack of mineralization in an area where flat topography is suitable for mine infrastructure. The deposit is still open in many directions laterally as well as vertically.
For more information such as maps, sections, drill data please refer to:
http://www.candente.com/s/PeruProjects_Cañariaco.asp.
Sampling and analytical procedures conform to NI 43-101 standards and are detailed in previous Candente news release dated September 7, 2005. All samples were submitted to Actlabs in Lima, Peru. Michael Casselman, P.Geo., Robert Van Egmond, P.Geo., and Joanne Freeze, P.Geo., are the Qualified Persons for the project as defined by NI 43-101 and have reviewed this news release.
Candente is a diversified copper and gold exploration company focused on increasing shareholder value through discovery. In addition to the Cañariaco Project, Candente has 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.
For further information please contact Evelyn Cox or Bruce Korhonen at: (604) 689-1957 or toll free 1-877-689-1964; or info@candente.com
www.candente.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Joanne C. Freeze"
Joanne Freeze, P. Geo., President & CEO
Candente Resource Corp.
Release No. 150
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.