Candente Copper Corp. (TSX:DNT)(PINKSHEETS:CCOXF)(LMA:DNT)
("Candente Copper" or "the Company") is pleased to report results
from the second and third exploration holes of the 2013 drilling
program on the Canariaco Sur porphyry copper-gold system.
Hole CS-13-004 was drilled vertically to 411 metres (m) and hole
CS-13-005 was drilled from the same platform as CS-13-004 to 265m
at an azimuth of 090 degrees and inclination of minus (-) 60
degrees. Highlights of these holes include:
CS-13-004: 411.30 metres (m) averaging 0.25% copper
equivalent(i) from 0 to 411.30m (0.0.19% copper, 0.08 grams per
tonne ("g/t") gold and 1.5 g/t silver).
-- including: 197.30m averaging 0.35% copper equivalent(i) from 214m to
411.30m (0.26% copper, 0.11 g/t gold and 2.0 g/t silver).
CS-13-005: 265 (m) averaging 0.19% copper equivalent(i) from 0
to 265m (0.15% copper, 0.05 g/t gold and 1.1 g/t silver).
-- Including: 37m averaging 0.44% copper equivalent(i) from 178m to 215m
(0.36% copper, 0.10 g/t gold and 2.1 g/t silver). This intercept occurs
within a broader intercept of 87m grading 0.30% copper equivalent(i)
from 178m to 265m (0.25% copper, 0.06 g/t gold and 1.6 g/t silver).
Drill holes CS-13-004 and 005 were collared approximately 300 m
east of drill hole CS-08-001 and approximately 500m east of hole
CS-12-003.
"The second hole of the 2013 drilling program, collared 300
metres east of CS-08-001, encountered long intersections of copper
and gold mineralization, thereby significantly extending the zone
of copper, gold and silver mineralization at Canariaco Sur. These
positive results continue to indicate that Canariaco Sur has the
potential to be a large copper gold porphyry system," commented
Sean Waller, President of Candente Copper.
Drill hole CS-13-006 has been completed to 409m and drilling is
in progress on hole CS-13-007, currently at 363.80m.CS-13-007 is
collared at the same site as CS-13-007. Results from these holes
will be reported as they are received. All holes completed to date
are presented in Table 1 below.
---------------------------------------------------------------------------
Table 1 - Canariaco Sur, Peru: DDH Drilling Summary to February 27, 2013
---------------------------------------------------------------------------
Total
Length From To Width Cu Au Au Cu Eq
Hole (m) (m) (m) (m) (%) (g/t) (g/t) (i)(%)
---------------------------------------------------------------------------
CS-99-001 170.50 0.00 170.50 170.50 0.26 0.16 na 0.36
including 74.00 126.55 52.55 0.40 0.30 na 0.58
---------------------------------------------------------------------------
CS-99-002 149.50 0.00 149.50 149.50 0.33 0.08 na 0.38
including 24.00 130.50 106.50 0.40 0.09 na 0.46
---------------------------------------------------------------------------
CS-99-03 152.50 0.00 152.50 152.50 0.08 0.03 na 0.09
---------------------------------------------------------------------------
CS-08-001 534.85 0.00 534.85 534.85 0.27 0.11 1.2 0.35
including 146.00 534.85 388.85 0.34 0.14 1.4 0.44
---------------------------------------------------------------------------
CS-08-002 505.75 0.00 505.75 505.75 0.25 0.09 1.5 0.32
including 69.00 290.00 221.00 0.39 0.13 1.5 0.48
---------------------------------------------------------------------------
CS-12-003 528.50 0.00 528.50 528.50 0.24 0.07 0.9 0.29
including 10.50 250.00 239.50 0.27 0.08 0.9 0.33
including 10.50 124.00 113.50 0.35 0.10 1.4 0.42
---------------------------------------------------------------------------
CS-13-004 411.30 0.00 411.30 411.30 0.19 0.08 1.5 0.25
including 214.00 411.30 197.30 0.26 0.11 2.0 0.35
---------------------------------------------------------------------------
CS-13-005 265.00 0.00 265.00 265.00 0.15 0.05 1.1 0.19
including 182.00 265.00 83.00 0.25 0.06 1.6 0.31
including 178.00 215.00 37.00 0.36 0.10 2.1 0.44
---------------------------------------------------------------------------
(i) Copper equivalent grades are based on metal prices of:
copper US$2.50/lb, gold US$1035 per oz and silver US$17.25 per oz.
Metal recoveries have not been applied in the copper equivalent
calculation. The copper equivalent calculation is as follows; Cu Eq
= Cu grade + (Au grade x Au price + Ag grade x Au price)/(22.0462 x
31.1035 x Cu price).
Hole CS-12-004 and 005 cut various potassic altered porphyritic
intrusive and volcanic host rocks. Oxidation extends to a depth of
50m. Sulphide mineralization averages 2 to 3% and consists of
chalcopyrite, pyrite and lesser patchy disseminated bornite.
Sulphides occur as disseminations and within weak quartz-sulphide
stockwork veining. Of interest are the very low arsenic values
associated with sulphide mineralization, generally averaging much
less than 50 parts per million (ppm) over the entire lengths of the
holes mentioned above. Continuity of geology, alteration and grade
between all holes drilled to date is a good indication that
Canariaco Sur is shaping into a very robust mineralized porphyry
system. In addition, a recently completed Induced Polarization (IP)
survey over the entire Canariaco Sur area and surroundings
indicates that mineralization encountered at Canariaco Sur is part
of a broad greater than 25 millivolt/volt (mV/V) chargeability
anomaly. This chargeability anomaly extends for at least 5
kilometres (km), from Canariaco Norte in the north, southwest
through Canariaco Sur and further southwest to the Quebrada Verde
prospect and indicates potential for the discovery of additional
mineralized centres. Limited soil geochemistry from a 2008 sampling
survey also outlines mineralization known to date at Canariaco Sur
as well as the potential to extend mineralization to the east and
west of current drilling.
Sample Preparation and Analysis
A summary drill log, or "quick log", of the hole was made on
site. Drill core was then transported offsite to the Company's core
logging and storage facility where the core was logged in detail,
split by rock saw and sampled for geochemical analyses. Core
samples were bagged, sealed and sent to ALS Chemex labs in Lima,
Peru. Samples received by the lab were weighed, dried and finely
crushed to more than 70% of the sample passing a 2 millimetre (mm)
screen. From this crushed material a 250 gram (g) sample is taken
and pulverized to more than 85% of the sample passing a 75 micron
screen. Base metals are analysed by conventional Inductively
Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES)
multi-element analysis. Gold analysis is by fire assay with an
atomic absorption finish.
About Candente Copper
Candente Copper's flagship project is the 100% owned, 7.5
billion pound, Feasibility stage Canariaco Norte Copper Project
located in northern Peru's prolific mining district. The Canariaco
Norte deposit contains a Measured and Indicated resource of 752.4
million tonnes grading 0.49% copper equivalent(ii), and an Inferred
Resource of 157.7 million tonnes at 0.44% copper
equivalent(ii).
Sean Waller, P.Eng., President and Joanne C. Freeze, P.Geo.,
CEO, are the Qualified Persons as defined by National Instrument
43-101 for the projects discussed above. They have reviewed and
approved the contents of this release.
(ii)The 'Measured and Indicated Resource' listed above consists
of Measured Resources of 338.1Mt at 0.48% Cu, 0.08 g/t Au, and
2.0/t Ag (0.52% Cu Eq.), plus Indicated Resources of 414.3Mt at
0.43% Cu, 0.06 g/t Au, and 1.8 g/t Ag (o.46% Cu Eq.). All resources
quoted in this release are based on a 0.30% copper cut-off grade
and 229 drill holes completed to March 2008. Copper equivalent(ii)
grade including gold and silver, metal recoveries (gold 55%; silver
50%) and smelter returns (copper 96.5%: gold 93%; silver 90%)
applied. Copper grade equivalent calculation: Cu Eq% =(Cu % + ((Au
grade x Au price x Au recovery x Au smelter return%)+(Ag grade x Ag
price x Ag recovery x Ag smelter return%))/(22.0462 x Cu price x
31.0135 g/t x Cu recovery x Cu smelter return%). The metal prices
used are: copper US$2.50/lb, gold US$1,035/oz and silver
US$17.25/oz.
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.
CAUTIONARY NOTE TO U.S. INVESTORS
We advise U.S. investors that this news release uses terms that
are not recognized by the United States Securities and Exchange
Commission ("SEC"), including "mineral resources", "measured
resources", "indicated resources" and "inferred resources". The
estimation of measured and indicated resources involves greater
uncertainty as to their existence and economic feasibility than the
estimation of proven and probable reserves. U.S. investors are
cautioned not to assume that mineral resources in these categories
will be converted to reserves. The estimation of inferred resources
involves far greater uncertainty as to their existence and economic
viability than the estimation of other categories of resources.
U.S. investors are cautioned not to assume that estimates of
inferred mineral resources exist, are economically mineable, or
will be upgraded into measured or indicated mineral resources. U.S.
investors are cautioned not to assume that mineral resources in any
of these categories will be converted into reserves.
On behalf of the Board of Candente Copper Corp.
Sean Waller, P.Eng., President and Director
NR-046
Contacts: Candente Copper Corp. Walter Spagnuolo Manager,
Investor Relations Mobile: 604-306-8477 Local: 604-689-1957 ext.
3info@candentecopper.com Candente Copper Corp. Nataly Reategui
Investor Relations, Peru 511-715-2001 ext.
107nreategui@candente.com www.candentecopper.com
Candente Copper (TSX:DNT)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Candente Copper (TSX:DNT)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024