Candente Expands Copper Zone and Confirms Gold and Silver 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 an additional five holes of a twelve hole core drilling program on its 100% owned Canariaco copper project in Northern Peru. All twelve holes have now been completed and total 2647.5 metres. The holes were drilled as part of a systematic pattern on a grid with 100 metre centres to test the continuity of the 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. 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 has been found to contain levels of gold and silver that are of economic interest. Surface work and previous drilling indicates a mineralizing system with a lateral extent of at least 1 by 1.2 kilometres (km). Results from the nine holes received to date have delineated significant copper mineralization over an area 300 by 200 metres laterally and up to 300 metres vertically. Eight of the nine holes ended in mineralization of similar or better grade to that encountered throughout the rest of the hole. One hole encountered a post mineral 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. below 40 metres of high-grade mineralization. The copper mineralizing system is open on all sides and at depth in the area of current drilling. 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 systems. Initial microscopic 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, 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. . Grades for the additional five holes are summarized below in Table 1 and the gold, silver and copper grades for hole DDH-04-001 are summarized in Table 2. Assays have not yet been received for holes DDH-04-007, 011 and 012 and will be reported once received and compiled. A map showing drill hole locations and a table summarizing all results to date are posted on the Company's website at: www.candente.com/s/PeruProjects_Canariaco.asp.
Table 1:
Hole From To Interval Copper (total) Elevation
No. (m) (m) (m) (feet) (%) (m)
04-003 0 40 40 131 Leach Cap TOH 2921
40 203(i) 163 534 0.65
40 80 40 131 0.89
80 203(i) 123 402 0.57 EOH 2718
04-004 0 8 8 26 Leach Cap TOH 2863
8 166(i) 158 518 0.64
8 44 36 118 0.47
44 166(i) 122 400 0.68 EOH 2697
04-008 0 46 46 151 Leach Cap TOH 2915
46 260(i) 214 702 0.64
46 202 156 512 0.73
202 260(i) 58 190 0.42 EOH 2755
04-009 0 52 52 171 Leach Cap TOH 2880
52 92 40 131 0.88
92 222(i) 130 427 0.22(ii) EOH 2658
04-010 0 18 18 56 Leach Cap TOH 2820
18 152(i) 134 441 0.64
18 56 38 125 0.74
56 102 46 151 0.49
102 152(i) 50 165 0.70 EOH 2668
(i) End of Hole - bottomed in mineralization
(ii) Late mineral breccia
TOH equals Top of Hole
EOH equals End of Hole
Table 2: Gold and Silver with Copper in DDH-04-001
From To Interval Gold Silver Copper
(m) (m) (m) (feet) (gpt) (gpt) (%)
66 300 234 768 0.12 2.00 0.71
66 162 96 315 0.13 2.75 1.02
162 300 138 453 0.10 1.47 0.50
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 copper, cyanide soluble copper and residual sulphides is being carried out by Actlabs laboratory in Lima, Peru. Pulps from the same samples are being sent to Actlabs laboratory in Ancaster, 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. 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, M.Sc., P.Geo., General Manager Exploration and Director of Candente and James Currie, P.Eng., Director of Candente are the qualified persons as defined by NI 43-101 for the Canariaco project and have verified the information contained in 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. For more information visit www.candente.com, call us at (604) 689-1957, toll free 1-877-689-1964 or e-mail to info@candente.com. 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 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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