Vancouver, British Columbia, July 19, 2010. Candente Copper Corp.(TSX:DNT)
("Candente Copper") is very pleased to announce the appointment of
Mr. Michael Thicke, M.Sc., P.Geo. as Vice President Exploration.
Mr. Thicke has 30 years of global exploration experience, and is a
recognized expert on porphyry copper systems. He has extensive
experience in porphyry exploration in South America as District
Geologist for Rio Algom (now BHP Billiton) in Chile, where he was a key
member of the team that discovered the large scale Spence porphyry
copper deposit. Mr. Thicke and his fellow exploration team members
were awarded the prestigious Prospector of the Year Award by the
Prospectors and Developers Association of Canada for this discovery in
1998. The Spence deposit commenced production in 2006.
More recently, Mr. Thicke was a senior member of BHP Billiton's Global
Porphyry Exploration group, leading teams for the exploration and
evaluation of porphyry copper deposits.
Mr. Thicke will be based in Vancouver where he joins Sean Waller,
President and Joanne Freeze, CEO as a key member of the Candente Copper
management team. "We are very pleased to have such an experienced and
successful porphyry copper expert join Candente Copper to lead our
exploration team," stated Sean Waller.
"The acquisition, discovery and delineation of the Ca�ariaco Norte
copper deposit has already demonstrated the Candente team's ability to
discover and develop copper projects," said Mr. Thicke. "The two
additional porphyry copper targets delineated on the Ca�ariaco property
- Ca�ariaco Sur and Quebrada Verde - give this project exceptional
upside potential. I am very pleased to join the Candente Copper team,
and I look forward to working on Ca�ariaco and the large portfolio of
promising early stage copper projects we hold in Peru."
A number of Candente Copper's portfolio of 11 exploration projects are
situated in the prolific Southern Peru Porphyry Belt. This belt hosts
the Cerro Verde, Cuajones and Toquepala copper mines, the Quellaveco
copper deposit of Anglo American, and the recently joint-ventured
Zafranal copper-gold project of Teck and AQM Copper.
About Candente Copper
Candente Copper's flagship project is the 100% owned, 7.7 billion
pound, feasibility stage Ca�ariaco Norte Copper Project located in
northern Peru's prolific mining district. The Ca�ariaco Norte deposit
contains a Measured and Indicated resource of 622 million tonnes
grading 0.52% copper equivalent, and an Inferred Resource of 128
million tonnes at 0.47% copper equivalent. The deposit contains 102
million tonnes in a high grade near-surface resource zone at 0.61%
copper equivalent.*
A positive Preliminary Economic Assessment was completed on the
Ca�ariaco Norte Copper Project by SRK Consulting in late 2008, which
shows robust economics at both current and consensus long term copper
prices. Since this report was published, a number of factors have been
identified which have the potential to significantly improve the
project's economics.
Candente Copper has now resumed feasibility studies on the Ca�ariaco
Norte copper project. A Pre-Feasibility Study is slated for completion
in Q4 2010, with the full Feasibility Study to follow. Exploration on
the Ca�ariaco Sur and Quebrada Verde copper projects, as well as a
number of Candente Copper's exploration targets throughout Peru is also
planned for 2010.
_____
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. All resources quoted in this release are based on a
0.30% copper cut-off grade and 60,580 metres drilled in 213 holes to
March 2008. *The 'Measured and Indicated Resource' listed above
consists of Measured Resources of 237Mt at 0.51% Cu, 0.08 g/t Au, and
1.94 g/t Ag, plus Indicated Resources of 385Mt at 0.45% Cu, 0.07 g/t
Au, and 1.76 g/t Ag. The 'Inferred Resource' listed above consists of
128Mt at 0.43% Cu, 0.06 g/t Au, and 1.64 g/t Ag. All copper equivalent
grades quoted in this release are based on US$1.90 per pound copper,
US$600 per troy ounce gold, US$10 per troy ounce silver, and 100% metal
recoveries.
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 & Director
______________________________________
For further information please contact:
John Foulkes
VP Corporate Development
mobile: +1 (604) 614-2999
local: + 1 (604) 689-1957 ext 2
toll free: 1 (877) 689-1964 ext 2
info@candentecopper.com
or:
Walter Spagnuolo
Manager, Investor Relations
mobile: +1 (604) 306-8477
local: + 1 (604) 689-1957 ext 3
toll free: 1 (877) 689-1964 ext 3
info@candentecopper.com
www.candente.com
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Candente Copper Corp.
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DEVELOPMENT STAGE |
CODE : DNT.TO |
ISIN : CA13739Y3041 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Candente Copper is a copper development stage company based in Canada. Candente Copper develops copper, gold and silver in Peru, and holds various exploration projects in Peru. Its main asset in development is CAÑARIACO in Peru and its main exploration properties are EL TIGRE, PAMEL, LAS SORPRESAS, LUNAHUANÁ, ALTO DORADO and PICOTA in Peru. Candente Copper is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 21.4 millions as of today (US$ 17.1 millions, € 15.9 millions). Its stock quote reached its highest recent level on January 21, 2011 at CA$ 2.63, and its lowest recent point on April 03, 2020 at CA$ 0.02. Candente Copper has 164 920 000 shares outstanding. |