Candente Copper Commences Feasibility Study on the Canariaco Norte Copper Project
April 06 2011 - 4:00AM
Marketwired
Candente Copper Corp. (TSX: DNT)(PINK SHEETS: CDOUF)(BVLAC: DNT)
("Candente Copper") is pleased to announce that it has commenced a
Feasibility Study ("FS") on its 100% owned Canariaco Norte Copper
Project in northern Peru. The Feasibility Study is under the
direction of AMEC Americas Limited ("AMEC").
A Pre-Feasibility Study Progress Report ("PFSPR") was completed
by AMEC on March 11th, 2011 and is available for download from
Candente Copper's website at:
http://www.candentecopper.com/s/PeruProjects_Canariaco.asp
"The PFSPR clearly indicates that Canariaco Norte is an
extremely attractive copper project with robust economics and a
sound development plan," commented Sean Waller, President of
Candente Copper. "It is our objective to continue to de-risk the
project by taking the engineering to the next level, which we
anticipate will provide the basis to make the decision to proceed
to construction. Moving ahead immediately to a FS with the AMEC
team is an important factor in maintaining the overall schedule for
project development."
Key Aspects of the Feasibility Study
The Feasibility Study will be based on the scope of development
presented in the PFSPR, although several aspects will be subject to
additional investigation and optimization. The FS will see the
level of engineering and economic analysis completed to a
significantly higher accuracy level than the PFSPR, with the
objective of finalizing the scope of project development, and
completing capital and operating costs estimates to an accuracy of
plus or minus 15%.
Project aspects that will see additional development and/or
optimization include:
Production Rate: The Canariaco Norte copper deposit may warrant
a higher production rate. The production rate will be reassessed to
determine the optimum production scenario.
Geotechnical Investigation: Geotechnical drilling and
investigations will be completed in the areas of the pit walls,
plant site, and tailings management facility.
Metallurgical Test Work: Including variability flotation tests
and concentrate roasting tests for confirmation of process design
parameters and concentrate specifications.
Concentrate Off-Take: Enter into discussions with smelters for
concentrate off-take.
As Candente did during the PFSPR, FS progress updates will be
issued as certain milestones are achieved during the Feasibility
work program.
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 Canariaco Norte copper project located in
northern Peru's prolific mining district.
Mr. Sean Waller, P.Eng., President of Candente Copper is a
Qualified Persons as defined by National Instrument 43-101, has
reviewed and approved the contents of this release, and is
responsible for the information contained in 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, geotechnical assumptions,
geological interpretations, receipt of property titles or permits,
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 of 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-022
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
Candente Copper Corp. Nataly Reategui Investor Relations, Peru
(511) 715-2001 ext 107 (511) 717-1233 (FAX) nreategui@candente.com
www.candente.com
Candente Copper (TSX:DNT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Candente Copper (TSX:DNT)
Historical Stock Chart
From Jul 2023 to Jul 2024