Vancouver, British Columbia, July 22, 2010. Candente Copper Corp.
(TSX:DNT) ("Candente Copper") is pleased to provide a progress update
on the Ca�ariaco Norte Copper Project Pre-Feasibility Study. A number
of significant improvements to the project have already been identified
and selected for inclusion in the Pre-Feasibility Study, including an
increase in production rate from 75,000 to 85,000 tonnes per day, the
identification of a process for the reduction of arsenic in the
concentrate to non-penalty levels, and the initiation of discussions to
use a proposed new port near Eten as a shared concentrate shipping
facility.
Under the guidance of AMEC Americas Ltd ("AMEC"), various trade-off
studies have been undertaken. Two key studies are now complete, and
technical development options have been selected which are expected to
significantly improve the project economics.
The first study assessed various process plant capacities and, based on
the results, the production rate will be increased to 85,000 tonnes per
day. This is a 13% increase over the 75,000 tonnes per day plant
capacity specified in the 2008 SRK Preliminary Economic Assessment
("PEA"), and is estimated to result in a corresponding increase in
annual copper production. The increase in plant throughput will be
achieved by optimizing the PEA grinding circuit design, including
increasing the size of the secondary ball mills and increasing the
projected plant availability by 2%, which reflects current industry
experience. The impact on the capital cost of the grinding circuit due
to these changes is expected to be minimal as the sizes of the primary
crusher and Semi-Autogenous Grinding ("SAG") mill remain unchanged from
what was specified in the PEA.
In the second study, AMEC has assessed the various processing
technologies currently available to reduce the content of arsenic in
the copper concentrate to non-penalty levels, and they have proposed
utilizing a concentrate roasting process offered by Outotec Oyj
("Outotec") of Finland. This process technology is currently being
supplied by Outotec to CODELCO for a similar application at its new
Ministro Hales mine in northern Chile. As part of the current
metallurgical test work, samples of Ca�ariaco Norte flotation
concentrate will be submitted to Outotec for testing to confirm the
applicability of their process to the concentrate.
As previously reported in Candente Copper news release 007, a proposed
new port site near the port of Eten has been selected by Candente
Copper for a copper concentrate load-out facility. Eten is only 240
kms from the Ca�ariaco Norte mine site, whereas the port of Salaverry,
which was used in the Ca�ariaco Norte PEA, is 420 kms from the mine
site. The reduced distance will significantly reduce life-of-mine
concentrate transport costs.
The new port near Eten has been proposed by Lumina Copper SAC
("Lumina") for development of a concentrate loadout facility for its El
Galeno copper project in Northern Peru. Very significant positive
benefits to both projects are anticipated by the development of a
shared loadout facility, and Candente Copper and Lumina have initiated
discussions regarding the potential of a shared-use facility.
"We are very pleased with the progress to date, as we have made several
very significant improvements to the scope of project development, and
we anticipate additional improvements as we continue to develop the
Ca�ariaco Norte project through the Pre-Feasibility Study," commented
Sean Waller, P.Eng., President of Candente Copper.
The Ca�ariaco Norte Copper Project Pre-Feasibility Study is scheduled
for completion in the fourth quarter of 2010.
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*.
____
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
www.candente.com
NR-009
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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. |