Candente Copper Resumes Feasibility Studies & Exploration
Vancouver, British Columbia, March 25, 2010. Candente Copper Corp.
(DNT-TSX) ("Candente Copper") is pleased to announce that feasibility
studies have resumed on their Ca�ariaco Norte copper project, and
preparation for exploration of their Ca�ariaco Sur, Quebrada Verde and
other Peruvian copper projects has begun.
Ca�ariaco Norte Copper project
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 a final Feasibility Study expected approximately 6
"We are extremely pleased to resume the development program for the
Ca�ariaco Norte copper project. It is a compelling, large scale copper
project in a country with a well established mining industry that we
believe will be one of the next generation of Peruvian copper mines,"
said Sean Waller, P.Eng., President of Candente Copper. "Completion of
the Pre-Feasibility and Feasibility Studies will be major milestones in
this development of Ca�ariaco Norte."
The selection process for an internationally recognized engineering
firm to complete the Pre-Feasibility Study on Ca�ariaco Norte is
underway, with contract award anticipated by mid-April 2010.
A geotechnical drilling program in the Ca�ariaco Norte pit area will
start in late April following the end of the rainy season. This
program will provide the geotechnical data required to complete the
pre-feasibility level design of the Ca�ariaco Norte pit. It is
anticipated that the additional data will permit optimization of the
pit wall slopes with the potential to improve the open pit mine plan
grade, particularly during the early years of production.
The feasibility level metallurgical test work will resume shortly at
SGS Lakefield Research in Santiago, Chile. This test work will
determine the projected metal recoveries and other metallurgical
parameters required to finalize the Ca�ariaco Norte process flow sheet.
When SRK completed the Preliminary Economic Assessment in 2008 the
feasibility level metallurgical test work was already more than 50%
As part of the metallurgical assessment program, Candente Copper
recently contracted CESL Limited, a subsidiary of Teck Resources
Limited, to assess the applicability of their hydrometallurgical
technology to treat the Ca�ariaco Norte copper concentrate and produce
LME grade A copper cathode on-site. This technology has the potential
to significantly improve the Ca�ariaco Norte copper project.
The Ca�ariaco Norte Pre-Feasibility Study will also evaluate the
potential impact of a proposed new deep water port at Eten, Peru, 130
kms from Ca�ariaco Norte. Use of this proposed port has the potential
to reduce transportation costs substantially (~C$170 million) over the
life of the Ca�ariaco Norte mine when compared to the SRK 2008
Preliminary Economic Assessment report, which modelled trucking copper
concentrate 420 kms to the operating port of Salaverry, Peru.
In addition, AMEC (Peru) S.A. has now resumed the Environmental &
Social Impact Assessment (ESIA) on the Ca�ariaco Norte copper project
Ca�ariaco Sur & Quebrada Verde Copper Projects
Evaluation drilling on the Ca�ariaco Sur copper porphyry, 1.5 kms SW of
the centre of the Ca�ariaco Norte copper deposit, is also planned to
commence in May 2010. Exploration to define drill targets on the
Quebrada Verde zone 1.5 kms further to the southwest is also planned
Two discovery holes drilled into the Ca�ariaco Sur target in 2008
intersected extensive sections of copper mineralization, including 83
metres grading 0.55% copper equivalent within a larger 176 metre
intersection grading 0.48% copper equivalent. These holes, when
combined with highly anomalous soil geochemistry and geophysics
indicate that Ca�ariaco Norte, Ca�ariaco Sur and Quebrada Verde
together comprise an extensive copper-gold porphyry complex covering a
minimum length of five kilometres and an average width of two
"The discovery of a second porphyry copper deposit and the excellent
potential for the discovery of a third in such close proximity to the
Ca�ariaco Norte copper deposit could significantly add to the scope and
economics of the Ca�ariaco project development through shared
infrastructure and facilities." states Mr. Waller. "A significant
amount of our exploration effort will be focussed on the evaluation of
Other Copper Exploration Targets
Candente Copper holds a number of earlier stage copper and base metal
properties in Peru. Evaluation, prioritization and drill target
selection on these properties has also begun and exploration drilling
is planned for select targets in 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
102 million tonnes in a high grade, near-surface resource shell at
0.61% copper equivalent, 622 million tonnes of Measured and Indicated
resource grading 0.52% copper equivalent, and 128 million tonnes of
Inferred Resource at 0.47% copper equivalent*.
A positive Preliminary Economic Assessment was completed on the
Ca�ariaco Norte copper project 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
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 72,189 metres drilled in 249 holes since
2004. *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
On behalf of the Board of Candente Copper Corp.
"Sean Waller" P.Eng.
President & Director
For further information please contact:
Manager, Investor Relations
mobile: +1 (604) 306-8477
local: + 1 (604) 689-1957 ext 3
toll free: 1 (877) 689-1964 ext 3
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