Ausenco Update for Conceptual Desk Top Study on Cañariaco Norte
April 19 2021 - 8:00AM
Candente Copper Corp. (TSX:DNT, BVL:DNT) ("Candente Copper”,
“Company”) is pleased to announce that the Desk Top Conceptual
Study (“Study”) that is being conducted by Ausenco is advancing
well. The mandate of the study is to identify opportunities for
Cañariaco Norte to be built as a smaller higher grade project with
a lower initial capital expenditure (“CapEx”) and accelerated
payback period.
In addition to seeking a higher copper grade for
the starter pit, we are investigating other opportunities to lower
the CapEx and operational expenditures (“OpEx”) and consider better
environmental, social and governance (“ESG”) practices. All
of the Desk Top work considers the potential for expansion into a
larger project over time.
“While the work has taken up more time than we
initially anticipated, the opportunities already identified by
Ausenco to improve the project are well worth the wait.” says
Joanne Freeze, President and CEO. “A more comprehensive Desk Top
Study will allow the Company to follow it with a preliminary
economic assessment (“PEA”) on the best possible project and we are
already seeing detailed optimizations that should make substantial
improvements to the project”.
Work to date has focused on:
- Geometallurgical modelling which
identifies both a wider range of metal contents in the different
rock types and a wider range of metal recoveries to
concentrate from the various rock types. Combining these two
aspects allows the forecast of concentrate quality followed by
production that offers more flexibility and the ability to plan
mine scheduling to optimize project value.
- The identification of current
markets for our unique copper concentrate which indicate higher
potential revenues due to a decrease in treatment costs.
For more details about the Study, please see
News Release No. 127 (dated February 25th, 2021):
https://www.candentecopper.com/news-releases/news-releases/2021/ausenco-engaged-for-desk-top-studies-on-canariaco-norte-higher-grade-project.
Ausenco has a 30-year track record and is
recognised as specialists in end-to-end solutions which are proven
to lower capital and operating costs, reduce construction time and
improve plant efficiencies. They perform consulting studies,
project delivery, and asset operations to the international mining
sector including high performance copper processing and
infrastructure projects. Project experience ranges from
small conceptual studies for new developments through to the
construction of large scale minerals processing facilities.
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-129
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