Candente Copper Appoints Michael Thicke as VP Exploration
July 19 2010 - 4:00AM
Marketwired
Candente Copper Corp. (TSX: DNT)(BVLAC: DNT)(WKN: GW4) ("Candente
Copper") is very pleased to announce the appointment of Mr. Michael
Thicke, M.Sc., P.Geo. as Vice President Exploration.
Mr. Thicke has 30 years of global exploration experience, and is
a recognized expert on porphyry copper systems. He has extensive
experience in porphyry exploration in South America as District
Geologist for Rio Algom (now BHP Billiton) in Chile, where he was a
key member of the team that discovered the large scale Spence
porphyry copper deposit. Mr. Thicke and his fellow exploration team
members were awarded the prestigious Prospector of the Year Award
by the Prospectors and Developers Association of Canada for this
discovery in 1998. The Spence deposit commenced production in
2006.
More recently, Mr. Thicke was a senior member of BHP Billiton's
Global Porphyry Exploration group, leading teams for the
exploration and evaluation of porphyry copper deposits.
Mr. Thicke will be based in Vancouver where he joins Sean
Waller, President and Joanne Freeze, CEO as a key member of the
Candente Copper management team. "We are very pleased to have such
an experienced and successful porphyry copper expert join Candente
Copper to lead our exploration team," stated Sean Waller.
"The acquisition, discovery and delineation of the Canariaco
Norte copper deposit has already demonstrated the Candente team's
ability to discover and develop copper projects," said Mr. Thicke.
"The two additional porphyry copper targets delineated on the
Canariaco property - Canariaco Sur and Quebrada Verde - give this
project exceptional upside potential. I am very pleased to join the
Candente Copper team, and I look forward to working on Canariaco
and the large portfolio of promising early stage copper projects we
hold in Peru."
A number of Candente Copper's portfolio of 11 exploration
projects are situated in the prolific Southern Peru Porphyry Belt.
This belt hosts the Cerro Verde, Cuajones and Toquepala copper
mines, the Quellaveco copper deposit of Anglo American, and the
recently joint-ventured Zafranal copper-gold project of Teck and
AQM Copper.
About Candente Copper
Candente Copper's flagship project is the 100% owned, 7.7
billion pound, feasibility stage Canariaco Norte Copper Project
located in northern Peru's prolific mining district. The Canariaco
Norte deposit contains a Measured and Indicated resource of 622
million tonnes grading 0.52% copper equivalent, and an Inferred
Resource of 128 million tonnes at 0.47% copper equivalent. The
deposit contains 102 million tonnes in a high grade near-surface
resource zone at 0.61% copper equivalent.(i)
A positive Preliminary Economic Assessment was completed on the
Canariaco Norte Copper Project by SRK Consulting 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 economics.
Candente Copper has now resumed feasibility studies on the
Canariaco Norte copper project. A Pre-Feasibility Study is slated
for completion in Q4 2010, with the full Feasibility Study to
follow. Exploration on the Canariaco Sur and Quebrada Verde copper
projects, as well as a number of Candente Copper's exploration
targets throughout Peru is also planned for 2010.
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 60,580 metres
drilled in 213 holes to March 2008. (i) The 'Measured and Indicated
Resource' listed above consists of Measured Resources of 237Mt at
0.51% Cu, 0.08 g/t Au, and 1.94 g/t Ag, plus Indicated Resources of
385Mt at 0.45% Cu, 0.07 g/t Au, and 1.76 g/t Ag. The 'Inferred
Resource' listed above consists of 128Mt at 0.43% Cu, 0.06 g/t Au,
and 1.64 g/t Ag. 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 reserves.
On behalf of the Board of Candente Copper Corp.
Sean Waller, P.Eng., President & Director
NR-008
Contacts: Candente Copper Corp. John Foulkes, VP Corporate
Development mobile: +1 (604) 614-2999 or local: + 1 (604) 689-1957
ext 2 toll free: 1 (877) 689-1964 ext 2 info@candentecopper.com
Candente Copper Corp. Walter Spagnuolo, Manager, Investor Relations
mobile: +1 (604) 306-8477 or local: + 1 (604) 689-1957 ext 3 toll
free: 1 (877) 689-1964 ext 3 info@candentecopper.com
www.candente.com
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