Candente Explores New Copper-Gold Project in Southern Peru
December 07 2010 - 4:00AM
Marketwired
Candente Copper Corp. (TSX: DNT)(BVLAC: DNT)(WKN: GW4) ("Candente
Copper") is pleased to report that highly anomalous copper, gold
and molybdenum geochemical results have been returned from strongly
altered and leached rock samples collected on their 100% owned
Arikepay porphyry property in southern Peru. Permitting for
drilling at Arikepay is under application while detailed mapping
and additional sampling is underway.
Anomalous values ranging from 100 to 1,460 ppm copper, 50 ppb to
2,560 ppb (2.5 g/t) gold, and 0.5 ppm to 143 ppm molybdenum (see
tables below) have been found to occur in altered and leached
volcanic and intrusive rocks from the project.
"The anomalous copper values returned from the leached capping
at Arikepay are typical of the upper levels of porphyry copper
deposits in other parts of the Andes such as Peru, Chile and
Argentina," commented Michael Thicke, P.Geo., VP Exploration of
Candente Copper. "The addition of gold, and the apparent zoning of
the system with an anomalous molybdenum core flanked by stronger
copper and gold values, further add to Arikepay's exploration
potential."
Mr. Thicke joined Candente Copper as VP Exploration in July,
2010. He is a recognized expert on porphyry copper systems and has
over 30 years of global exploration experience, most recently as a
senior member of BHP Billiton's Global Porphyry Exploration
group.
The anomalous gold and copper values found at Arikepay are
associated with jarosite-goetite stockwork, veins, and
disseminations occurring within argillic-phyllic altered rocks.
Anomalous molybdenum values are associated with pervasive hematite
in zones of silicification, with quartz stockwork zones occurring
locally within altered areas. Propylitic alteration occurs south
and southwest of the phyllic and silicic alteration, and is
characterized by epidote-chlorite-magnetite in stockwork, veins,
and matrix-fill in andesitic volcanic rocks.
The phyllic and silicic alteration, which is poorly exposed,
covers an area approximately 700 metres north-south by 900 metres
east-west, and remains open to the northwest for over 2,000
additional metres and to the northeast for approximately 500 metres
under recent sand and gravel cover.
The Arikepay property covers two claim blocks totalling 1,800
and 2,200 hectares each, and is road accessible 109 kilometres from
the city of Arequipa. The property is located 45 kilometres south
of Freeport-McMoRan's Cerro Verde copper-molybdenum mine.
Prior to Candente's ownership of Arikepay, a major mining
company drilled four closely spaced reverse circulation drill holes
on the property. There is no geological or assay data available to
Candente for this drilling but it is understood to have been
carried out in the 1990's. Candente's exploration team believes
that the property remains highly under-explored, as the previous
drilling only tested a very small area. The copper and gold
anomalies reported herein by Candente Copper remain untested by
drilling.
Initial sampling by Candente Copper at Arikepay was carried out
during a preliminary evaluation program of eight Peruvian porphyry
copper properties held by Candente Copper, lead by Mr. Thicke and
Senior Geologist Ing. Enrique Bernuy. Drill targets are also being
developed on the other seven properties and will be discussed in
future new releases.
Tables of Results
DISTRIBUTION of VALUES
-------------------------------------------------------------------
No. of Samples Sample Type Cu (ppm)
-------------------------------------------------------------------
3 Panel 1000 - 1460
-------------------------------------------------------------------
9 Panel 500 - 999
-------------------------------------------------------------------
11 Panel 300 - 499
-------------------------------------------------------------------
19 Panel 100 - 299
-------------------------------------------------------------------
34 Panel less than 100
-------------------------------------------------------------------
Au (ppb)
-------------------------------------------------------------------
4 Panel 500 - 1500
-------------------------------------------------------------------
9 Panel 100 - 499
-------------------------------------------------------------------
14 Panel 50 - 99
-------------------------------------------------------------------
49 Panel less than 50
-------------------------------------------------------------------
Mo (ppm)
-------------------------------------------------------------------
7 Panel 50 - 143
-------------------------------------------------------------------
23 Panel 20 - 49
-------------------------------------------------------------------
12 Panel 5 - 19
-------------------------------------------------------------------
34 Panel less than 5
-------------------------------------------------------------------
HIGHER VALUES
-------------------------------------------------------------------
Sample Type Dimensions (m) Cu (ppm)
-------------------------------------------------------------------
Panel 2.0 x 0.7 1460
-------------------------------------------------------------------
Panel 2.0 x 1.5 1330
-------------------------------------------------------------------
Panel 1.1 x 0.7 1,080
-------------------------------------------------------------------
Au (ppb)
-------------------------------------------------------------------
Panel 2.0 x 0.6 2560
-------------------------------------------------------------------
Panel 1.5 x 0.4 925
-------------------------------------------------------------------
Panel 1.1 x 1.0 866
-------------------------------------------------------------------
Panel 2.0 x 0.6 570
-------------------------------------------------------------------
Mo (ppm)
-------------------------------------------------------------------
Panel 2.4 x 0.4 143
-------------------------------------------------------------------
Panel 1.6 x 0.4 90
-------------------------------------------------------------------
Canal 3.1 x 0.2 79
-------------------------------------------------------------------
Canal 3.1 x 0.3 74
-------------------------------------------------------------------
Canal 2.3 x 0.15 58
-------------------------------------------------------------------
About Candente Copper
Candente Copper Corp is a TSX and BVL listed mining company
focused on exploration and development of base metal mining
projects in Peru and Latin America. Candente Copper's flagship
project is the 100% owned Pre-Feasibility Stage Canariaco Norte
Copper Project located in northern Peru's prolific mining
district.
____
Michael J. Thicke, P.Geo., VP Exploration 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
visited the property and have reviewed and approved the contents of
this release.
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-012
Contacts: Candente Copper Corp. John Foulkes VP Corporate
Development mobile: +1 (604) 614-2999 or local: + 1 (604) 689-1957
ext 2 or 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
www.candente.com
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