Candente Adds 325 Million Potential Tonnes of Copper Mineralization at Canariaco Norte, Peru.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Candente Resource Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :DNT DNT Document & Network Technologies DNT Dinitrotoluene DNT Dynamic Network Technologies DNT Do Not Type DNT Dodonu Ni Taukei Party (Fiji political party) DNT Do Not Touch DNT Dialed Number Trigger DNT Do Not Translate ) is pleased to report that the potential for an additional 325 million tonnes (Mt) of copper mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. has been added to the existing inferred resource of 76.5 Mt at Canariaco Norte, Northern Peru. Contained metal in the 76.5 Mt equals 1.035 billion pounds of copper and 243,000 ounces of gold. The 76.5 Mt inferred resource has a grade of 0.61% copper (Cu) and 0.1 grams per tonne (gpt) gold. Estimated grade for the 325 Mt potential is between 0.45% and 0.65% Cu. The additional 325 Mt potential is based on 13 holes grid-drilled by Candente in 2005 (holes 05-13 to 05-25) for which assays have been received. The new area covers 38.75 hectares (Ha) and extends south of the inferred resource area of 14 Ha. Drilling continues to expand the size of the deposit beyond the 325 Mt potential. As reported on October 17th, 2005, recently completed holes (05-26 and 05-27) show an increased width of 250 m to the deposit (assays pending). In addition, the thickness used to calculate the 325 Mt potential does not take into account the full depth of hole 05-14, which intersected mineralization to a depth of 644 meters (m). Average copper, gold, molybdenum molybdenum (məlĭb`dənəm) [Gr.,=leadlike], metallic chemical element; symbol Mo; at. no. 42; at. wt. 95.94; m.p. about 2,617°C;; b.p. about 4,612°C;; sp. gr. 10.22 at 20°C;; valence +2, +3, +4, +5, or +6. and silver grades for the 25 holes grid-drilled by Candente in 2004 and 2005 have now been compiled and are shown in the table below. These numbers do not include leach cap, late mineral dykes and lower grade breccia breccia: see conglomerate. breccia Coarse sedimentary rock consisting of angular or nearly angular fragments larger than 0.08 in. (2 mm). Breccia commonly results from processes such as landslides or geologic faulting, in which rocks are fractured. zones especially at the bottom of the holes, which will likely be considered to be waste material. Average Grades from Candente's 25 holes (assays received to date) -------------------------------------------------------------------- Mineralization Style Cu % Au gpt Mo ppm Ag ppm -------------------------------------------------------------------- Total Copper: Chalcocite and Chalcopyrite 0.56 0.087 29.3 2.0 -------------------------------------------------------------------- (i)Leachable: greater than 60% chalcocite 0.60 0.066 n/c n/c -------------------------------------------------------------------- Mixed: greater than 40% Chalcopyrite 0.51 0.092 n/c n/c -------------------------------------------------------------------- n/c - Not calculated (i) Approximately 44% of deposit to date For more information please refer to: www.candente.com/s/PeruProjects_Canariaco.asp. Qualifiers on the Calculation of the Additional 325 Mt Potential Copper Mineralization The potential tonnage was derived by multiplying the surface area by the average width of mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. intercepts (to give cubic m (m3)) by the specific gravity specific gravity, ratio of the weight of a given volume of a substance to the weight of an equal volume of some reference substance, or, equivalently, the ratio of the masses of equal volumes of the two substances. (tonnage factor derived from testing for the inferred resource estimate). Specifically this is 500 m east-west by 775 m north-south by 336 m vertical by 2.50 tonnes/m3. The area of influence used for the 325 Mt potential was 100 m laterally and 60 m vertically whereas the area of influence (circular search An underwater circular search is a search and rescue strategy conducted by a diver swimming around a fixed pivot point. In some cases a second diver can anchor himself to the bottom and act as both the pivot point and line tender. radius) used in the inferred resource was 75 m laterally and 60 m vertically. The difference is due to the drill hole density of the two areas and the presence of visible mineralization in additional drill holes (05-26 and 05-27) and on surface. Porphyry copper deposits porphyry copper deposit A large body of igneous rock, having distinct crystals in a relatively fine-grained base, that contains chalcopyrite and other sulfide minerals. tend to be more homogeneous than most deposits so the application of the variograms from the resource calculation in the northern area is applicable to the calculations for the southern half. The area included in the 325 Mt potential and the area of the preliminary resource estimate are homogeneous in lithology li·thol·o·gy n. 1. The gross physical character of a rock or rock formation. 2. The microscopic study, description, and classification of rock. , alteration and mineralization. The potential tonnage estimate does not include leach cap, late mineral dykes and lower grade breccia zones especially at the bottom of the holes, which will likely be considered to be waste material. The tonnage and grade estimate of the area added to the deposit by 2005 drilling is preliminary and conceptual in nature. At this time, there has been insufficient exploration in the additional area to define a mineral resource outside of the existing mineral resource of 76.5 Mt already reported. In addition, drill holes may be too widely spaced and geology too speculative to have detailed economic considerations applied to them which would allow the calculation of an inferred mineral resource estimate for the additional area and it is uncertain if further exploration will result in the definition of a larger inferred mineral resource estimate on the property. There is no certainty that the additional 325 Mt potential will be realized. Further drilling is needed to upgrade the potential tonnage to an inferred category. However, there is no guarantee that further drilling will intersect what has been assumed for this calculation. Sampling and analytical procedures Analytical Procedures is one of financial audit skill which help an auditor understand the client's business and changes in the business, to identify potential risk areas and to plan other audit procedures. conform to Verb 1. conform to - satisfy a condition or restriction; "Does this paper meet the requirements for the degree?" fit, meet coordinate - be co-ordinated; "These activities coordinate well" NI 43-101 standards and are detailed in previous Candente news release dated September 7, 2005. Michael Casselman, P.Geo., Robert Van Egmond, P.Geo., and Joanne Freeze, P.Geo., are the Qualified Persons for the project as defined by NI 43-101 and have reviewed this news release. Candente is a diversified copper and gold exploration company focused on increasing shareholder value through discovery. In addition to the Canariaco Project, Candente has several other gold, copper and silver projects in Peru. Candente subscribes to principles which ensure that its exploration and development activities are beneficial to the local communities. ON BEHALF OF THE BOARD OF DIRECTORS Joanne Freeze, P. Geo., President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Candente Resource Corp. Release No. 141 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 An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. protection for forward-looking statements. |
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