Candente Copper Intersects 113.5 metres of 0.42% Copper Equivalent(i) (CuEq) at Cañariaco Sur
Published : February 19, 2013
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 19, 2013) - Candente Copper Corp. (News - Market indicators)(PINKSHEETS:CCOXF)(LMA:DNT) ("Candente Copper" or "the Company") is pleased to report results from the first exploration hole of the 2013 drilling program on the Cañariaco Sur porphyry copper-gold system. 

Hole CS-12-003 was drilled vertically to 528.50 metres (m) and highlights of this hole include:

CS-12-003: 528.5 metres (m) averaging 0.29% copper equivalent from 0 to 528.50m (0.24% copper, 0.07 grams per tonne ("g/t") gold and 0.9 g/t silver).

  • including: 113.5m averaging 0.42% copper equivalent from 10.5 to 124.0 metres (0.35% copper, 0.10 g/t gold and 1.4 g/t silver). This intercept occurrs within a longer intercept of 239.5m grading 0.33 % copper equivalent from 10.5m to 250m depth (copper 0.27%, gold 0.08 g/t and silver 0.9 g/t).

Results from all holes drilled at Cañariaco Sur, including those from a 1999 campaign by Billiton and the 2008 campaign by Candente, are detailed in Table 1 below.

"We are extremely pleased with the results obtained from the first drill hole of the 2013 drilling program at Cañariaco Sur. CS-12-003 adds to the very positive results obtained from the two holes Candente Copper drilled at Cañariaco Sur in 2008," commented Sean Waller, President of Candente Copper. "These three drill holes are widely spaced and each hole contains copper and gold mineralization extending over 500m from surface to the end of the hole, indicating that Cañariaco Sur has the potential to be a very significant system."

Results from hole CS-12-003 are especially encouraging as it was targeted to test a strong induced polarization ("IP") chargeability anomaly thought to represent the pyrite halo of a porphyry deposit. This anomaly was initially identified by a historic geophysical survey and was better defined by a second recent IP survey which combined with the first survey gives IP coverage to the entire Cañariaco Sur target area. Based on the interpretation of the combined IP surveys and observations made from hole CS-12-003, the pyrite halo is now anticipated to be situated 300m to 400m further to the west thus extending exploration potential in that direction. Sulphide mineralization is first observed at approximately 40m down hole and occurs both in disseminations and within quartz and quartz-sulphide veins until the end of the hole. Total sulphide mineralization content averages approximately 2% and consists of chalcopyrite, chalcocite, bornite, molybdenite and pyrite. Moderate to strong potassic and phyllic alteration has mostly obliterated volcanic and various porphyritic intrusive rock textures. Locally strong quartz-sulphide stockwork veining is also associated with potassic and phyllic alteration.

Drill holes CS-08-001 and 002, drilled by Candente Copper in 2008 are located approximately 200m east and 400m northeast, respectively, from hole CS-12-003 and were targeted to verify the results of holes CS-99-001 and CS-99-002 drilled by Billiton in 1999. The centre of Cañariaco Sur is located approximately 1.5 kilometres (km) southwest of the Cañariaco Norte deposit (now under feasibility study). Based on the drilling to date at Cañariaco Sur significant copper and gold mineralization occurs over an area of approximately 500m x 500m and is open in all directions and at depth.

Drill holes CS-13-004 and 005 have been completed to 411m and 265m, respectively and drilling has commenced on hole CS-13-006. Results from these holes will be reported as they are received. All holes completed to date are presented below.

Table 1 - Cañariaco Sur, Peru: DDH Drilling Summary
Hole Total
CS-99-001 170.50 0.00 170.50 170.50 0.26 0.16 na 0.36
including   74.00 126.55 52.55 0.40 0.30 na 0.58
CS-99-002 149.50 0.00 149.50 149.50 0.33 0.08 na 0.38
including   24.00 130.50 106.50 0.40 0.09 na 0.46
CS-99-03 152.50 0.00 152.50 152.50 0.08 0.03 na 0.09
CS-08-001 534.85 0.00 534.85 534.85 0.27 0.11 1.2 0.35
including   146.00 534.85 388.85 0.34 0.14 1.4 0.44
CS-08-002 505.75 0.00 505.75 505.75 0.25 0.09 1.5 0.32
including   69.00 290.00 221.00 0.39 0.13 1.5 0.48
CS-12-003 528.50 0.00 528.50 528.50 0.24 0.07 0.9 0.29
including   10.50 250.00 239.50 0.27 0.08 0.9 0.33
including   10.50 124.00 113.50 0.35 0.10 1.4 0.42
* Copper equivalent grades are based on metal prices of: copper US$2.50/lb, gold US$1,035 per oz and silver US$17.25 per oz. Metal recoveries have not been applied in the copper equivalent calculation. The copper equivalent calculation is as follows; Cu Eq = Cu grade + (Au grade x Au price + Ag grade x Au price)/(22.0462 x 31.1035 x Cu price).

Sample Preparation and Analysis

A summary drill log, or "quick log", of the hole was made on site. Drill core was then transported offsite to the Company's core logging and storage facility where the core was logged in detail, split by rock saw and sampled for geochemical analyses. Core samples were bagged, sealed and sent to ALS Chemex labs in Lima, Peru. Samples received by the lab were weighed, dried and finely crushed to more than 70% of the sample passing a 2 millimetre (mm) screen. From this crushed material a 250 gram (g) sample is taken and pulverized to more than 85% of the sample passing a 75 micron screen. Base metals are analysed by conventional Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES) multi-element analysis. Gold analysis is by fire assay with an atomic absorption finish.

About Candente Copper

Candente Copper's flagship project is the 100% owned, 7.5 billion pound, Feasibility stage Cañariaco Norte Copper Project located in northern Peru's prolific mining district. The Cañariaco Norte deposit contains a Measured and Indicated resource of 752.4 million tonnes grading 0.49% copper equivalent**, and an Inferred Resource of 157.7 million tonnes at 0.44% 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.

** The 'Measured and Indicated Resource' listed above consists of Measured Resources of 338.1Mt at 0.48% Cu, 0.08 g/t Au, and 2.0/t Ag (0.52% Cu Eq.), plus Indicated Resources of 414.3Mt at 0.43% Cu, 0.06 g/t Au, and 1.8 g/t Ag (o.46% Cu Eq.). All resources quoted in this release are based on a 0.30% copper cut-off grade and 229 drill holes completed to March 2008. Copper equivalent** grade including gold and silver, metal recoveries (gold 55%; silver 50%) and smelter returns (copper 96.5%: gold 93%; silver 90%) applied. Copper grade equivalent calculation: Cu Eq% =(Cu % + ((Au grade x Au price x Au recovery x Au smelter return%)+(Ag grade x Ag price x Ag recovery x Ag smelter return%))/(22.0462 x Cu price x 31.0135 g/t x Cu recovery x Cu smelter return%). The metal prices used are: copper US$2.50/lb, gold US$1,035/oz and silver US$17.25/oz.

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.


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 and Director


Candente Copper Corp.
Walter Spagnuolo
Manager, Investor Relations
+ 1 (604) 689-1957 ext 3 or +1 (604) 306-8477
Candente Copper Corp.
Nataly Reategui
Investor Relations, Peru
(511) 715-2001 ext 107
Data and Statistics for these countries : Peru | All
Gold and Silver Prices for these countries : Peru | All

Candente Copper Corp.

ISIN : CA13739Y3041
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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$ 14.0 millions as of today (US$ 11.0 millions, € 9.3 millions).

Its stock quote reached its highest recent level on January 21, 2011 at CA$ 2.63, and its lowest recent point on February 12, 2016 at CA$ 0.03.

Candente Copper has 164 920 000 shares outstanding.

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Annual reports of Candente Copper Corp.
2007 Annual report
2006 Annual report
Financings of Candente Copper Corp.
4/7/2015Raises $750,000 in Non-Brokered Private Placement
3/23/2015Raises $500,000 in First Tranche of Non-Brokered Private Pla...
3/19/2015Names Acting CFO and Oversubscription of Financing
3/2/2015Non-Brokered Financing Announcement
2/17/2011Announces Closing of $26.9 Million Bought Deal and $3.2 Mill...
3/4/2010Increases Size of Private Placement
2/17/2010Terms and Commitments of Private Placement
2/12/2010Private Placement
7/8/2009Terms of Private Placement of Candente Gold Corp
6/26/2008Private Placements Oversubscribed and Closed
6/16/2008 Private Placements Fully Committed
6/13/2008Private Placements Amended
6/9/2008 Announces Private Placements
6/8/2007Private Placement Closed and Amerigo Acquires Position in Ca...
5/30/2007Private Placement Increased
5/15/2007Announces Private Placement
Nominations of Candente Copper Corp.
1/20/2015Appoints Paul H. Barry as Independent Director
8/16/2012Appoints CFO
1/25/2011Appoints John Black to Board of Directors
7/19/2010Appoints Michael Thicke as VP Exploration
12/5/2008 Appointment of CFO
8/7/2008Announces Management Appointments
Financials of Candente Copper Corp.
11/13/2009Financial Results for Quarter Ended Setember 30, 2009 & Cana...
8/12/2009Financial Results For Quarter Ended
5/15/2009Financial Results forthe quarter ended march 31, 2009
Project news of Candente Copper Corp.
2/19/2013(Cañariaco)Intersects 113.5 metres of 0.42% Copper Equivalent(i) (CuEq)...
4/6/2011(Cañariaco)Commences Feasibility Study on the Canariaco Norte Copper Pr...
3/22/2011(Cañariaco)Plans Exploration Drilling for 2011-Drill Programs Planned f...
3/7/2011Files NI 43-101 Technical Report and Updates Key Financial R...
1/18/2011(Cañariaco)Announces Positive Pre-Feasibility Progress Report for the C...
12/17/2010(Cañariaco)Files 43-101 Technical Report for the Canariaco Norte Copper...
11/29/2010(Cañariaco)Canariaco Norte Pre-Feasibility Study Update
7/22/2010(Cañariaco)Provides an Update on the Norte Pre-Feasibility Study
6/28/2010Awards AMEC the Canariaco Norte Pre-Feasibility Study Contra...
6/22/2010(El Oro)Gold Begins Underground Drilling
3/25/2010(Cañariaco)Resumes Feasibility Studies & Exploration
6/26/2009(El Oro Mexico)Candente Gold Provides More Detail on Historic Resources on ...
2/27/2009(El Oro Mexico)Corporate Update
12/12/2008(Cañariaco)Preliminary Economic Assessment on Ca=F1ariaco Norte Copper ...
10/2/2008(Cañariaco)Discovers a Second Copper-Gold Porphyry on the Canariaco pro...
9/18/2008(Cañariaco)Gold and Silver Added to Canariaco Norte Mineral Resource Es...
5/29/2008(Cañariaco)Updates Canariaco Norte Mineral Resource Estimate
1/15/2008(Cañariaco) Initial Flotation Results for the Canariaco Norte Copper De...
10/25/2007(Cañariaco)Third Drill Mobilized to Test Southern Extension to Canariac...
10/4/2007(El Oro Mexico) and Canaco Resources Inc.: Drilling Intersects Vertical Ext...
8/29/2007(Cañariaco)Intersects 702 Metres of 0.59% Cu at Canariaco Norte, Peru
7/25/2007(Cañariaco)Copper Mineralization Extended to Depth of 767 Metres at Can...
7/11/2007High Grade Silver in Veins and Gold in Vuggy Silica Found
4/20/2007(Cañariaco)Upgraded Starter Pit Shows Robust Economics at Canariaco No...
Corporate news of Candente Copper Corp.
8/2/2016Candente Copper Completes Private Placement Raising $1.07M
7/19/2016Candente Copper Announces Further Oversubscription of Financ...
7/12/2016Candente Copper Announces Oversubscription of Financing
7/11/2016Candente Copper Announces Non-Brokered Financing
6/1/2016Candente Announces Request to Delay AGM
3/29/2016Candente Announces Change of Auditor
3/22/2016Zahena continues Option of Arikepay and makes USD$200,000 Pa...
11/20/2015Candente Copper announces the Resignation of Mr. Wolfgang Ni...
11/19/2015Candente Copper Announces the Resignation of Mr. Wolfgang Ni...
9/24/2015Candente Copper Completes the Net Smelter Royalty Agreement ...
9/24/2015Candente Copper Completes the Net Smelter Royalty Agreement ...
9/16/2015Candente Gold Provides Voting Results for Annual General Mee...
9/1/2015Candente Copper announces the execution of Definitive Royalt...
9/1/2015Candente Copper Announces the Execution of Definitive Royalt...
7/20/2015Candente Copper enters Royalty Agreement on Cañariaco Projec...
7/20/2015Candente Copper Enters Royalty Agreement on Canariaco Projec...
7/3/2015Candente Copper Provides Voting Results for the Election of ...
4/14/2015Zahena to Commence Drilling at Arikepay
4/7/2015Candente Copper Raises $750,000 in Non-Brokered Private Plac...
3/23/2015Non-Brokered Financing Announcement
3/23/2015Candente Copper's Names Acting CFO and Oversubscription of F...
3/23/2015Candente Copper Raises $500,000 in First Tranche of Non-Brok...
3/19/2015Candente Copper's Names Acting CFO and Oversubscription of F...
3/2/2015Candente Copper Corp.: Non-Brokered Financing Announcement
1/20/2015Candente Copper Appoints Paul H. Barry as Independent Direct...
1/8/2015Candente Copper Provides Update
9/25/2014Candente Copper Appoints Endeavour as Financial Advisor
6/6/2014Candente Copper Provides Voting Results for the Election of ...
5/23/2014Candente Copper Completes Private Placement
5/14/2014Candente Copper Announces Increase to Private Placement
5/1/2014Candente Copper Announces Non-Brokered Private Placement
9/10/2013Cobriza Metals Corp. Receives Final Court Order For Arrangem...
9/3/2013Shareholders of Cobriza Metals Corp. Approve Plan of Arrange...
8/16/2013Reviews Results for 2013 Drilling Program at Canariaco Sur
7/16/2013to Acquire Cobriza Metals Corp.
5/17/2013Canariaco Norte Project Update
5/9/2013(Cañariaco)Drills 308m at 0.32% Copper Equivalent(i) at Cañariaco Sur
4/11/2013Drills 225m at 0.42% Copper Equivalent (CuEq)(i) at Canariac...
2/28/2013Extends Copper Gold Mineralization at Canariaco Sur
1/23/2013s Drilling at Canariaco
1/3/2013Commences Drilling at Canariaco
12/6/2012Temporary Road Blockage in Canaris
10/1/2012Provides Comment on Recent Community Activities in Peru
7/9/2012Community Announces Positive Vote for Canariaco Surface Acce...
6/22/2012Community Sets Date for Assembly to Vote on Surface Access P...
6/8/2012Provides Comment on Recent Market Activity
5/31/2012Receives Drilling Permit for Canariaco Property
5/9/2012s Status of the Canariaco Project
4/30/2012s Community Agreement Status
11/24/2011Canariaco Norte Copper Project Update
10/13/2011Shareholder Rights Plan Becomes Effective
10/6/2011and Cobriza Metals Announce Completion of Plan of Arrangemen...
9/22/2011Announces Conditional Approval for TSX Listing of Cobriza Me...
8/24/2011Announces Shareholder Approval for Spin-Out of Cobriza Metal...
6/29/2011Status Update Canariaco Norte Copper Project
6/6/2011Michael Thicke Appointed President of Cobriza Metals Corp.
5/17/2011to Form a New Copper and Base Metals Exploration Company
3/9/2010Completes $6.2 Million Financing
12/31/2009Closing Financing of $9 Million and Listing of Candente Gold...
12/17/2009Closing First Tranche of $6.8 Million and Listing of Candent...
9/10/2009Resource Corp. and Candente Gold Corp.-Update
7/30/2009Candente Gold Corp.-Toronto Stock Exchange Conditional Listi...
6/16/2009 Engagement of BMO Capital Markets for Financing and Schedul...
11/17/2008Results and Summary for the Nine Months Ended September 30, ...
8/15/2008Results and Summary for the Six Months Ended June 30, 2008
4/3/2008Results For The Fiscal Year Ended December 31, 2007
3/13/2008Corporate and Canariaco Project Update
3/12/2008Termination of U.S. Registration of Common Shares
1/22/2008Community of Canaris Votes in Favour of Canariaco and Canden...
1/16/2008Steven Dean Appointed Director and Chairman of Candente
12/13/2007 Announces the Retirement of Ing. Fredy J. Huanqui G.
8/29/2007Santa Luisa Returns Candente's El As de Zinc Property in Cen...
8/23/2007Has No Direct Exposure to Asset-Backed Commercial Paper
8/16/2007Personnel and Projects Are Safe and All Activities Operate a...
8/16/2007Results for the Period Ending June 30, 2007
5/11/2007Reverts to 100% Ownership at Pamel Property in Peru
4/2/2007Gets Attention in Chile
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