Update on the Ausenco 2021 PEA on Cañariaco Norte
December 09 2021 - 8:00AM
Candente Copper Corp. (TSX:DNT, BVL:DNT) ("Candente Copper”,
“Company”) is pleased to announce that the 2021 Preliminary
Economic Assessment that is being conducted by Ausenco Engineering
Inc. (“Ausenco”) on the Cañariaco Norte Project (the “Ausenco 2021
PEA”) is advancing well and is expected to identify more
opportunities to improve the project than originally expected.
These additional improvements have resulted in a slight delay to
the completion by Ausenco to early Q1 2022.
Ausenco is leveraging conceptual work completed
in the desktop study (see Candente news release from June 15, 2021)
to help maximize shareholder value through a project concept that
is expected to be financeable and executable in the current market
environment.
The Ausenco 2021 PEA is expected to:
- Improve Environmental, Social and
Governance (“ESG”) practices;
- Reduce initial capital expenditures
(“CapEx”);
- Highlight a smaller initial
throughput for a lower initial CapEx;
- Expand throughput after payback
using mine cash flow to double capacity with the addition of a
second mill line; and
- Improve infrastructure design
including a single Dry Waste Storage Facility with co-disposal of
waste rock and filtered mill tailings.
“While the work will take a few more weeks to
complete than initially anticipated, we are very excited to be able
to demonstrate optimizations that are expected to result in a
substantially improved proposed mining project at Cañariaco Norte,”
says Joanne Freeze, President and CEO. “The Ausenco 2021 PEA will
not only show a smaller higher grade starter project with a lower
initial CapEx and accelerated payback period, but will also show
other opportunities to lower CapEx and OpEx and implement better
ESG practices.”
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.
The Company is very pleased to now have
Cañariaco Norte included in 4 research reports that compare various
global copper projects.
RFC Ambrian: Cañariaco Norte in
top 10 of 23 projects with potential to involve third party M&A
(December 2021); Haywood: Cañariaco Norte is one
of 18 assets selected as likely to be considered by majors looking
to acquire (December 2021); Deutsche Bank:
Cañariaco Norte identified as one of 3 projects required to meet
the upcoming copper supply-demand gap (February 2021);
Goldman Sachs: Cañariaco Norte identified with
incentive copper price in the lowest quartile of the top 84 copper
projects worldwide (October 2018).
Both RFC Ambrian and Haywood have noted that
Cañariaco Norte is the 10th largest late-stage copper resource in
the world and 6th highest in grade.
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:
Jonathan
PatersonJonathan.Paterson@HarborAccessllc.com+1 475 455
9401
info@candentecopper.comwww.candentecopper.com
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