Ausenco Engaged for Desk Top Studies on Cañariaco Norte Higher Grade Project
February 25 2021 - 8:00AM
Candente Copper Corp. (TSX:DNT, BVL:DNT) ("Candente Copper”,
“Company”) is pleased to announce that it has engaged Ausenco
Engineering Canada Inc. (“Ausenco”) to conduct Desk Top Studies to
identify and define a smaller, higher grade, start up option for
Cañariaco with a smaller initial capital expenditure (“CapEx”) and
accelerated payback period. This study is expected to take 4 to 6
weeks to complete.
Assuming favourable results from the Desk Top
Studies the Company would look to move into a Preliminary Economic
Assessment (“PEA”) on the Revised Project Concept which would be
expected to take approximately 4 months to complete. The Company is
fully funded for both levels of studies. (for more details please
see News Release No. 126 dated February 22nd, 2021).
Ausenco is globally recognised for providing
consulting, project delivery, and asset operations services to the
international mining sector including high performance copper
processing and infrastructure projects. Ausenco has a 30-year track
record in delivering specialized end-to-end solutions which are
proven to lower capital and operating costs, reduce construction
time and improve plant efficiencies.
Ausenco’s project experience ranges from small
conceptual studies for new developments through to the construction
of large scale minerals processing facilities. In Peru, Ausenco’s
experience includes providing Engineering, Procurement and
Construction Management services to design, construct, and
commission the 25 million tonnes per year concentrator and
associated infrastructure for the Constancia Copper Molybdenum
Project owned by Hudbay.
Furthermore, Ausenco is currently in the final
stages of providing Engineering, Procurement and Construction
Management services to design, construct, and commission two
processing facilities that will process 6 million tonnes per year
of copper sulfide ore and 12 million tonnes per year of oxide ore
via solvent extraction and oxide leaching facility (along with
associated infrastructure) for the Mina Justa project owned by
Marcobre S.A.C. (controlled by Minsur S.A.).
Recently, Mantos Copper Holding has engaged
Ausenco for the engineering, procurement and construction (EPC) the
30,000 tonne per day copper concentrator plant and related
infrastructure at the Mantoverde Development Project in Chile.
About Candente CopperCandente
Copper is a mineral exploration company engaged in the acquisition,
exploration, and development of mineral properties. The Company is
currently focused on its 100% owned Cañariaco project, which
includes the Feasibility stage Cañariaco Norte deposit as well as
the Cañariaco Sur deposit and Quebrada Verde prospect, located
within the western Cordillera of the Peruvian Andes in the
Department of Lambayeque in Northern Peru.
Please see
https://www.candentecopper.com/investors/presentations for details
from previous resource and engineering studies which delineated 9B
lbs copper, 2M oz gold and 54M oz silver in: Measured and Indicated
Resources of 752.4 million tonnes grading 0.45% copper, 0.07 grams
per tonne (“g/t”) gold and 1.9 g/t silver (0.52% Cu equivalent)
containing 7.533 B lb Cu, 1.67 M oz Au and 45.24 M oz Ag and
Inferred Resources of 157.7 million tonnes grading 0.44% copper,
0.06 g/t gold and 1.8 g/t silver containing 1.434 B lb Cu, 0.3M oz
Au and 8.932 M oz Ag.
Details from the Cañariaco Norte Copper Project
Pre-Feasibility Study Progress Report available at
https://www.candentecopper.com/site/assets/files/5389/canariaco-pfs.pdf
estimate NPVs and IRRs of $1.06B and 17.5% at $2.50 Cu and $1.56B
and 21.5% at $2.90 Cu. The Incentive Price for Cañariaco Norte is
in the lowest quartile of top 84 copper projects worldwide named by
Goldman Sachs. Cash Costs are also in lowest quartile of the copper
industry.
Joanne C. Freeze, P.Geo., CEO, is the Qualified
Person as defined by National Instrument 43-101 for the projects
discussed above. She has reviewed and approved the contents of this
release.This news release may contain forward-looking statements
including but not limited to comments regarding 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 Copper relies upon litigation protection for
forward-looking statements.
On behalf of the Board of Candente
Copper Corp.
“Joanne C. Freeze” P.Geo.President, CEO and
Director___________________________________For further information
please contact:
info@candentecopper.comwww.candentecopper.com
NR-127
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