NEWS - Drilling Programm / Deer Lake PropertyCandorado Commences Trenching and Drilling Programs on Deer Lake Property, Little Fort, B.C.
KELOWNA, BRITISH COLUMBIA, Oct 8, 2008 (Marketwire via COMTEX News Network) --
CandoradoOperating Company Ltd. (the "Company") (TSX VENTURE:CDO)(FRANKFURT:HQU) (BERLIN:HQU) is pleased to announce that it hascommenced exploration programs on the Deer Lake property situated insouth-central BC.
Trenching
In 2007 several newskarn-type copper-gold mineralized zones were discovered by trenchingover magnetic anomalies and mineralized float (News Release - Nov 26,2007). Two zones, the Road Showing and Lightning Zone, are a focus ofthe 2008 program. The Road Showing consists of a zone of garnet-richskarn and massive magnetite-pyrite that grades 0.51 g/t Au and 0.27% Cuacross 7.45 metres. Trenching 70 metres to the southeast of the RoadShowing (TP-3) exposed a calcareous-garnet skarn rock a grab sample ofwhich assayed 5.80 g/t Au and 0.49% Cu. Excavation this year uncoveredat least 15 metres of skarn and intrusive rock containing coppermineralization.
The Lightning Zone, located 400 metres to thewest-northwest, was discovered while trenching near abundant skarn typemagnetite-pyrrhotite-chalcopyrite float. Historic float sampling hasreturned up to 4% Cu and up to 14.9 g/t Au. In 2007 three trenchesexposed an east-west trending mineralized zone over a strike length of50 metres. In one trench skarn float in glacial till a metre abovebedrock contained 4.60 % Cu and 19.2 g/t Au suggesting the potentialfor a local high-grade source. The current program will test for thenorthwesterly or "up-ice" source.
The current program will alsofocus on a mineralized zone referred to as EC 60 situated in thesouthwest part of the property. Historic work describes skarn-mantotype Zn-Pb mineralization in Nicola sedimentary rocks. Past samplingindicates grades up to 8 % combined Zn-Pb along with 10 g/t Au and 124g/t Ag. A new exploration road is under construction which will allowtrenching of the mineralization and provide access for drilling.
Drilling
Aspreviously reported (Nov 27, 2007) sulphide and magnetitemineralization as well as skarn alteration was encountered in most ofthe ten holes drilled in 2007.
Drilling in the Road Showingarea (Holes DL07-05, 06) intersected considerable widths of skarncontaining massive magnetite-pyrite mineralization consistent with thetrenching results. The 2008 drilling will test the down dip andhorizontal extent of this and the TP-3 mineralization.
In 2007four holes were completed on the Lightning Zone (News Releases Oct 16,Nov 26, 2007). All holes intersected skarn related copper-goldmineralization. The last and one of the most significant drill holes(DL07-10) tested the western part of the Lightning Zone. Extensiveskarn altered, predominantly volcanic rock locally containing zones ofhigh-grade copper and gold mineralization was intersected. A one metresample of chalcopyrite rich skarn contained 8.1 g/t gold and 2.2%copper. Visible gold found in a quartz veinlet in calcareous sedimentsat 80.05 metres was the first ever reported in a drill hole on theproperty. Anomalous molybdenum and vanadium up to 179 and 1190 ppmrespectively were also reported over the bottom 75 metres of this hole.This is suggestive of the proximity to a higher temperature environmentsuch as that associated with a buried intrusion. The 2008 drillingprogram will further test this mineralization.
Results for the2008 program will be released as they become available. Surface andcore samples will be submitted to Assayers Canada in Vancouver for goldand multi-element analysis. Quality assurance and quality control(QA/QC) include the insertion of analytical standards and blanks inaddition to the laboratory's internal QA program. Copper and goldvalues exceeding 10,000 ppm and 1,000 ppb (1 g/t) respectively will beassayed.
The Deer Lake property exploration program is beingconducted under the supervision of W. Gruenwald, P. Geo, and StuartFraser, P.Geol both "qualified persons" as defined by NationalInstrument 43-101.
About Candorado
Candorado is a B.C.based mineral exploration Company with extensive mineral tenures inCentral, Northern and Southern British Columbia. The Company is in themidst of several exploration projects involving geochemical andgeophysical programs as well as drill testing high priority targets andwill report on results as soon as they are available.
Rene Bernard, Chairman
ON BEHALF OF THE BOARD OF DIRECTORS of Candorado Operating Company Ltd.
Thestatements made in this News Release may contain certainforward-looking statements. Actual events or results may differ fromthe Company's expectations. Certain risk factors may also affect theactual results achieved by the Company.
SOURCE: Candorado Operating Company Ltd.
Candorado Operating Company Ltd. Rene Bernard Chairman (250) 979-2595 (250) 860-2957 (FAX) Website: www.candorado.com
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