|
July 25, 2007
|
|
Candente Resource Corp.: Copper Mineralization Extended to Depth of 767 Metres
at Canariaco Norte, Peru
|
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 25, 2007) - Candente Resource Corp. (TSX:DNT)(BVL:DNT)(WKN:GW4) ("Candente") is pleased to report that four Diamond drill holes have been completed to depths of 639 metres (m), 721 m, 767 m and 761 m (07-129, 07-135, 07-141 and 07-146) and all of these holes ended in copper (Cu) mineralization and strong alteration. The holes were stopped only because they had reached the capacity of the drill. A total of 10 deep holes have been planned for the current drilling program. Assays have been received for holes 07-083 to 07-140 (excluding 12 holes drilled for metallurgical testing).
The 2007 drilling to date indicates a significant increase to the size of the deposit. The deeper holes extend on average 250 m and 350 m below the depths of previous holes in the northern and southern portions of the deposit, respectively. In March 2007 a resource of 820 Million tonnes (Mt) grading 0.45% Cu average (cut-off of 0.3% Cu) and containing 8.1 billion pounds of copper was estimated based on the 82 holes (26,018.72 m) drilled as of Dec 2006 (see News Release 202, March 4th, 2007).
A better defined zonation to the copper mineralization in the deposit is now evident. In the southern portion of the deposit a zone (6 to 150 m thick) of greater than 70% soluble copper occurs as chalcocite with lesser covellite and other copper minerals within intermediate argillic and phyllic alteration. Below the chalcocite, copper mineralization comprising predominantly chalcopyrite and lesser bornite occurs. Grades are very consistent both within and between the two zones and have improved in the 2007 drilling. In the Northern portion of the deposit, chalcopyrite predominates, is higher in grade than to the south and is covered by chalcocite with even higher grades. For example, hole 06-076 intersected 33 m of 1.56% Cu comprising 71% soluble copper overlying 476 m of 0.74% Cu comprising predominantly chalcopyrite (total hole intersected 509 m of 0.79% Cu). The chalcocite in the north appears to be a generally thinner zone than in the south. However, a deeply penetrating chalcocite zone in the central portion of the deposit crosscuts and overprints primary sulphide copper mineralization to tested depths of over 350 m. This zone appears to be controlled by a series of breccias. Copper grades within the breccia-chalcocite zone are consistent to depth. Drill hole 07-140 intersected 201 m of 0.72% Cu with greater than 70% soluble copper (chalcocite) content. A leached cap varying from 10 to 100 m overlies much of the deposit and is thicker on the tops of ridges in the south and north. Approximately 20% of the deposit, especially at lower elevations, has very little (0 to 10 m) leached cap.
The four deep holes completed to date have all ended in strong alteration with copper mineralization. At depths of 600 m and greater, quartz veining and stockwork decreases while anhydrite veining increases. Copper mineralization continues as disseminated chalcopyrite. Veining at depth contains coarse chalcopyrite and traces of molybdenum.
To date this year a total of 14,989.25 m have been drilled in 67 holes (holes 07-083 to 07-149) at Canariaco Norte bringing the total metreage to 41,067.47 m in 149 holes. Of the 14,989.25 m drilled to date this year, 4,250 m show both lateral and vertical extensions to the deposit, 8,745.90 m are part of the infill drilling and 1,993.35 m were drilled for metallurgical testing. Drilling continues to expand the size of the deposit and for all feasibility requirements. Environmental (EIA) and Feasibility studies have been underway since January and May, respectively.
The twelve (12) metallurgical holes (holes 07-093 to 102, 104 and 106) were drilled as twins of existing holes for the purposes of grade controlled metallurgical testing. The material from these holes has been sent to SGS in Santiago, Chile and is undergoing metallurgical testing under the direction of Dr. W. Joseph Schlitt, Ph.D., P.Eng., of Hydrometal LLC. Tests are currently underway for both leaching and flotation characteristics to determine expected recoveries using both processes. This current testing is focused primarily on material that will be mined from the Starter Pit. Future testing will be design to test material from the entire resource. Bottle roll tests were begun in July to determine the leach characteristics for the different ore types and crush sizes. Results from these tests are expected to be received in mid August. Flotation testing is scheduled to be performed in August.
HIGHLIGHTS FROM THE 2007 DRILLING INCLUDE:
----------------------------------------------------------------------
%
Width Soluble
Drill Hole From To (m) % Total Cu Cu
----------------------------------------------------------------------
C07-135 0.00 35.70 35.70 Leached Cap
----------------------------------------------------------------------
35.70 720.85 EOH 685.15 0.44 17
----------------------------------------------------------------------
includes 35.70 67.00 31.30 0.51 87
----------------------------------------------------------------------
300.00 401.00 101.00 0.59 13
----------------------------------------------------------------------
C07-136 0.00 35.00 35.00 Leached Cap
----------------------------------------------------------------------
35.00 149.40 EOH 114.40 0.62 85
----------------------------------------------------------------------
includes 35.00 141.60 106.60 0.64 91
----------------------------------------------------------------------
C07-138 0.00 5.80 5.80 Leached Cap
----------------------------------------------------------------------
5.80 120.40 EOH 114.60 0.73 54
----------------------------------------------------------------------
C07-140 0.00 23.00 23.00 Leached Cap
----------------------------------------------------------------------
23.00 275.85 EOH 252.85 0.66 71
----------------------------------------------------------------------
includes 23.00 224.00 201.00 0.72 70
----------------------------------------------------------------------Complete results, maps, cross-sections and all reports can be viewed at:
http://www.candente.com/s/PeruProjects_Canariaco.asp
Sampling and analytical procedures conform to NI 43-101 standards and are detailed in the April 26th, 2007 Minefill report which can be found on the Candente Web site shown above. All samples were submitted to Actlabs in Lima, Peru. Robert van Egmond, P.Geo., Manager Exploration Peru and David Stone, P.Eng., of MineFill Services, Inc. are the Qualified Persons as defined by NI 43-101 for the project discussed above and have read and approved the contents of this release.
Candente is a diversified exploration company with copper, gold, silver, and zinc projects in Peru and Mexico. Candente subscribes to principles, which ensure that its exploration and development activities are beneficial to the local communities.
NR 219
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.
|
|