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Re: News Releases - Friday, December 07, 2007
Candorado Discovers High-Grade Copper-Gold Mineralization in
Trenching and Drilling on Deer Lake Property, Little Fort, B.C.
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Candorado Operating Company Ltd. (the ''Company") (TSX VENTURE: CDO
FRANKFURT/BERLIN: HQU) is pleased to announce that it received further
results from the recently completed exploration program on the Deer
Lake property previously announced on November 26, 2007.
Surface Sampling
Four of six trenches and one test pit encountered new zones of
copper-gold mineralization the significant results of which are shown
in the table below. The discovery of a mineralized zone in Trench DTR3
brings the extent of the Lightning Zone to 55 metres. A 0.30 metre
angular float boulder (DTR3-Flt, FH) excavated from overburden one
metre above bedrock returned among the highest copper-gold grades ever
reported on the property. The discovery of this high-grade float close
to mineralized bedrock suggests a nearby source.
Road construction 350 metres easterly of the Lightning Zone uncovered
massive magnetite-pyrite skarn with disseminated copper mineralization
in bedrock. This new discovery referred to as the "Road Showing" was
explored by Trench DTR4. Approximately 70 metres to the southeast, Test
pit DTP3 was excavated to evaluate a strong magnetic low. At a depth
of 2.5 metres bedrock containing gold rich magnetite-chalcopyrite skarn
was discovered. The sizeable magnetic anomaly in the area of these new
mineralized zones presents a high priority target for future
exploration.
Surface sampling on the property has yielded copper-gold mineralization
in float and bedrock over a wide area. Gold, although often associated
with copper mineralization, has been discovered in magnetite-iron
sulphide rich rocks. In 2000 Mr. Gerry Ray reported 5.26 g/t gold from
large boulders of magnetite-pyrrhotite-pyrite approximately 1.1
kilometres westerly of drill hole DL07-10.
Drilling
As previously reported (Nov 27, 2007) sulphide and magnetite
mineralization as well as skarn alteration was encountered in most of
the drill holes. Holes were drilled to test magnetic anomalies,
mineralization exposed by trenching or historic mineral occurrences.
The following table lists the significant drill results.
As previously reported (Oct 16, 2007) drill hole DL07-01 intersected
chalcopyrite-pyrrhotite-magnetite mineralization 30 metres below
surface. This mineralization represents the down-dip extension of the
Lightning Zone that was recently discovered by trenching a strong
magnetic anomaly within 50 metres of large float boulders containing up
to 4% Cu and 14.9 g/t Au.
DL07-03, drilled to test a strong magnetic anomaly at the Shaft Zone,
intersected two distinct zones of magnetite-chalcopyrite mineralization
up to 10 metres wide. Results from DL07-04 drilled from the same site
are pending.
Drill holes DL07-05, 06 were designed to test the Road Showing and
intersected considerable widths of skarn containing massive
magnetite-pyrite mineralization. Mineralization is open to depth and
given the discovery in Test Pit TP3 a considerable lateral extent is
evident.
Results for holes DL07-07 and 08 drilled to test the Red Showing and
Rio Zone magnetic anomaly are pending and will be released when
available. DL07-09 tested the eastern projection of the Lightning Zone
and intersected a narrow zone of copper-gold mineralization that
contains up to 0.01% Mo.
DL07-10, tested the western projection of the Lightning Zone beneath
Trench DTR6. This drill hole yielded very significant results.
Extensive skarn altered, predominantly volcanic rock containing zones
of high-grade copper and gold mineralization was intersected. Visible
gold was found in a quartz veinlet in altered sediments at 80.05
metres. This is the first evidence of visible gold ever reported in a
drill hole on the property. Another intersection of significance is a
one metre sample of chalcopyrite rich skarn containing 8.1 g/t gold and
2.2% copper. Molybdenum is anomalous throughout most of this hole with
values ranging up to 179 ppm Mo. This is potentially very significant
as it may signify a higher temperature environment such as that
associated with a buried intrusion. Results for the final 37 metres of
this drill hole are pending.
Results for the 2007 program will continue to be released as they
become available. Surface and core samples have been submitted to Eco
Tech Labs in Kamloops for gold and multi-element analysis. Quality
assurance and quality control (QA/QC) included the insertion of
analytical standards and blanks in addition to the laboratory's
internal QA program. Copper and gold values exceeding 10,000 ppm and
1,000 ppb (1 g/t) respectively were assayed.
Exploration on the Deer Lake property is being conducted under the
supervision of W. Gruenwald, P. Geo, of Geoquest Consulting Ltd. a
"qualified person" as defined by National Instrument 43-101.
About Candorado
Candorado is a B.C. based mineral exploration Company with extensive
mineral tenures in Central, Northern and Southern British Columbia. The
Company is in the midst of several exploration projects involving
geochemical and geophysical programs as well as drill testing high
priority targets and will report on results as soon as they are
available.
ON BEHALF OF THE BOARD OF DIRECTORS of
Candorado Operating Company Ltd.
Rene Bernard, CEO
For Further Information Please Contact:
Candorado Operating Company Ltd.
Daniel Gallagher
Tel: (250) 979-2590
Fax: (250) 860-2957
The statements made in this News Release may contain certain
forward-looking statements. Actual events or results may differ from
the Company's expectations. Certain risk factors may also affect the
actual results achieved by the Company.The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy and
accuracy of this Release.
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Copyright (c) 2007 CANDORADO OPERATING COMPANY LTD. (n/a) All rights
reserved. For more information visit our website at
http://www.candorado.com/ or send mailto:info@candorado.com
Message sent on Fri Dec 7, 2007 at 9:20:07 AM Pacific Time
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