Candente Completes Phase I Drilling and Commences Preliminary Resource Estimate Copper-Gold Porphyry Zone at Canariaco.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 analytical results have been received for the final three holes (DDH DDH Decision Diffie-Hellman DDH Developmental Dysplasia of Hip DDH Dorothy Day House DDH Document Drafting Handbook DDH Dublin Dental Hospital DDH Destroyer-Carrying Helicopter DDH Dissociated Double Hypertropia 04-007, 011 and 012) of the 2648 metre (m) twelve hole core drilling program on the 100% owned Canariaco copper project in Northern Peru. The twelve holes were drilled vertically as part of a systematic pattern on a grid with 100 metre centres to test the continuity 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. and provide sufficient information for the Company to prepare a preliminary resource estimate, which consultants will be preparing in early January. Mineralization and grades encountered in all drill holes reported to date are consistent with those seen in large porphyry Porphyry, Greek scholar Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus. copper-gold systems. Surface work and drilling to date indicates a 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. system with a lateral extent of at least 1.0 by 1.2 kilometres (km). Results from the recent twelve holes have delineated de·lin·e·ate tr.v. de·lin·e·at·ed, de·lin·e·at·ing, de·lin·e·ates 1. To draw or trace the outline of; sketch out. 2. To represent pictorially; depict. 3. significant and continuous copper mineralization over an area of 300m by 300m laterally. The combination of current and previous drilling within the 100m grid area has intersected copper mineralization over a 396m vertical extent. (See cross section at: www.candente.com/s/PeruProjects_Canariaco.asp. The 100 metre drilling grid only covers 7.5% of the known mineralized system (1.0km by 1.2km). Copper grades in the mineralized zones in the twelve holes average 0.7% Cu over an average width of 151 m with individual intersections ranging from 0.45%/137m; 0.71%/234; 0.85%/205m; 1.01%/96m. All of the twelve holes bottomed in significant copper mineralization grading from 0.54% to 1.00%Cu. These figures do not include three lesser mineralized zones which intersected late mineral rock units. The copper mineralization is open in all directions both laterally and vertically. One hole has also been assayed for precious metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. and found to contain levels of gold and silver that are of economic interest: 234m of 1.12gpt Au and 2.00gpt Ag including 96m of 1.13gpt Au and 2.75gpt Ag. All holes have now been submitted for precious metal analyses. Grades for all holes are summarized below. A map and cross sections showing drill hole locations are posted on the Company's website at: www.candente.com/s/PeruProjects_Canariaco.asp.
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Hole No. From To Interval Copper Elevation
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(m) (m) meters feet (total %) (m)
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04-001 0 66 66 217 leached cap TOH 2963
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66 300(i) 234 768 0.71
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includes 66 162 96 315 1.01 EOH 2663
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04-002 0 60 60 197 leached cap TOH 2944
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60 248(i) 188 617 0.68
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includes 60 102 42 138 0.80 EOH 2696
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04-003 0 40 40 131 leached cap TOH 2921
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40 203(i) 163 534 0.65
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includes 40 80 40 131 0.89 EOH 2718
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04-004 0 8 8 26 leached cap TOH 2863
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8 166(i) 158 518 0.64 EOH 2697
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04-005 0 36 36 118 leached cap TOH 2895
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36 202(i) 166 544 0.74 EOH 2693
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includes 172 202 30 98 0.93
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04-006 0 50 50 164 leached cap TOH 2900
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50 255(i) 205 671 0.85 EOH 2645
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includes 234 255 21 67 0.33(ii)
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04-007 0 34 34 112 leached cap TOH 2910
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34 227(i) 193 633 0.58 EOH 2683
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includes 34 110 76 249 0.87
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includes 110 227 117 384 0.38(ii)
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04-008 0 46 46 151 leached cap TOH 2915
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46 260(i) 214 702 0.64 EOH 2655
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includes 46 202 156 512 0.73
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04-009 0 52 52 171 leached cap TOH 2880
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52 92 40 131 0.88 EOH 2658
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includes 92 222(i) 130 427 0.22(ii)
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04-010 0 18 18 56 leached cap TOH 2820
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18 152(i) 134 441 0.64 EHO 2668
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includes 102 152(i) 50 165 0.70
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04-011 0 44 44 144 leached cap TOH 2980
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44 212(i) 168 551 0.63 EOH 2768
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04-012 0 64 64 210 leached cap TOH 2990
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64 201(i) 137 449 0.45 EOH 2789
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includes 64 152 88 289 0.49
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includes 152 201(i) 49 161 0.41
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All intervals are measured vertically.
(i) End of Hole - bottomed in mineralization
(ii) Late mineral rock units
TOH equals Top of Hole
EOH equals End of Hole
Initial microscopic microscopic /mi·cro·scop·ic/ (mi?kro-skop´ik) 1. of extremely small size; visible only by the aid of the microscope. 2. pertaining or relating to a microscope or to microscopy. analysis of drill core indicates the main copper minerals to be chalcocite chalcocite Sulfide mineral, Cu2S, that may be an important ore of copper. It belongs to a group of sulfide minerals formed at relatively low temperatures. Chalcocite alters to native copper and other copper minerals. , chalcopyrite chalcopyrite (kăl'kəpī`rīt, kăl`kōpī'rīt) or copper pyrites (pīrī`tēz, pə–), brass-yellow mineral, sometimes with an iridescent tarnish. , covellite co·vel·lite n. A lustrous indigo-blue mineral, CuS, an important ore of copper. [After Nicolò Covelli (1790-1829), Italian mineralogist.] and bornite bornite Common copper-ore mineral, copper and iron sulfide (Cu5FeS4). Typical occurrences are found in Mount Lyell, Tasmania; Chile; Peru; and Butte, Mont. Bornite may form isometric crystals but occurs most commonly as irregular masses. . All core from drilling was cut in half with a diamond saw and sampled at two metre intervals on the property. One half of the split core was collected by Candente's Peruvian geologists in accordance with industry standards and submitted to Actlabs in Lima, Peru. Total copper analyses and a sequential leach procedure for acid soluble soluble /sol·u·ble/ (sol´u-b'l) susceptible of being dissolved. sol·u·ble adj. Capable of being dissolved, especially easily dissolved. copper, cyanide cyanide (sī`ənīd'), chemical compound containing the cyano group, -CN. Cyanides are salts or esters of hydrogen cyanide (hydrocyanic acid, HCN) formed by replacing the hydrogen with a metal (e.g., sodium or potassium) or a radical (e.g. soluble copper and residual sulphides is being carried out by Actlabs laboratory in Lima, Peru. Pulps from some of the same samples are being sent to Actlabs laboratory in Ancaster, Ontario Ancaster is a suburban community southwest of Hamilton, Ontario, with which it amalgamated in 2001. Geography, economy and population Ancaster is the most westerly portion of the Golden Horseshoe conurbation of southern Ontario. , Canada and analysed for an additional 36 elements (including silver) using Inductively Coupled Plasma An inductively coupled plasma (ICP) is a type of plasma source in which the energy is supplied by electrical currents which are produced by electromagnetic induction, that is, by time-varying magnetic fields. (ICP (1) (Internet Cache Protocol) A protocol used by one proxy server to query another for a cached Web page without having to go to the Internet to retrieve it. See CARP and proxy server. ). Gold analyses on DDH-04-001 were carried out by Actlabs, Lima using Fire Assay Fusion and Atomic Absorption method on a 50g split. Five percent of all core samples will also be sent to a second laboratory for check assays of total copper. Quality Assurance and Quality Control, including the use of sample standards, blanks and duplicates as well as chain of custody The movement and location of physical evidence from the time it is obtained until the time it is presented in court. Judges in bench trials and jurors in jury trials are obligated to decide cases on the evidence that is presented to them in court. is monitored by Candente. Mike Casselman Mike Casselman (born September 23, 1968, in Morrisburg, Ontario) is a retired Canadian professional ice hockey left wing. He was drafted out of Clarkson University by the Detroit Red Wings in the 1990 NHL Supplemental Draft. , M.Sc., P.Geo., General Manager Exploration and Director of Candente and James Currie This article refers to the Scottish physician; for the Canadian politician, see James Currie (politician). James Currie (born May 31, 1756 in Dumfriesshire, Scotland; died August 31, 1805 in Sidmouth) was a Scottish physician and editor of Robert Burns. , P.Eng., Director of Candente are the qualified persons as defined by NI 43-101 for the Canariaco project and have verified the information and read and approved the contents of this release. Candente is a well-funded mineral exploration company focused on the acquisition and exploration of gold and copper projects with world-class potential. Management has a strong geological/technical focus and a track record of discovering world-class mineral deposits. 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. This News Release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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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