NEWS! DNT ADDS 2.2 BILLION LBS COPPER & 1.2 MILLION OZ GOLD! SENSATIONAL NEWS!
CANDENTE COPPER ANNOUNCES INITIAL INFERRED RESOURCE FOR CANARIACO SUR COPPER-GOLD PORPHYRY & UPDATES CANARIACO NORTE RESOURCE, PERU
An initial inferred mineral resource has been estimated for the portion of Candente Copper Corp.'s Canariaco Sur deposit drilled to date. Additionally the mineral resource for Canariaco Norte has been updated for purposes of the 2022 Preliminary Economic Assessment ("PEA") which is nearing completion.
Commenting on the results, President and CEO Joanne C. Freeze stated, "We are very pleased to be able to establish this initial Inferred Resource containing 2.2 billion pounds of copper and 1.2 million ounces of gold* in Canariaco Sur. This deposit contains higher levels of gold and molybdenum than Canariaco Norte, minimal arsenic levels and mineralization that starts at surface. Canariaco Sur has the potential to add significant value to the resources at Canariaco Norte, 2km to the northeast. The Initial Canariaco Sur estimate is based on 15 drill holes on the eastern portion of a large geochemical anomaly which extends several hundred metres to the west and southwest. Higher grade phyllic style copper-gold mineralization was intersected in the western-most hole drilled to date. Future drilling is planned for the west and southwestern sides as well as the undrilled Quebrada Verde porphyry target 1.5km southwest of Canariaco Sur."
Ms. Freeze further stated, "We are very excited to be nearing completion of the 2022 PEA on Canariaco Norte with project optimizations including a smaller higher-grade starter project, a lower initial capex and opportunities to enhance ESG aspects."
In addition, the Canariaco Norte Mineral Resource Estimate (previously reported on Nov 1, 2010) has been updated by David Thomas, P.Geo., of DKT Geosolutions Inc. and Jay Melnyk, P.Eng. Principal Mining Engineer at AGP Mining Consultants Inc. The 0.15% Cu applied cut-off represents an approximate breakeven cut-off, based on parameters developed during the nearly completed 2022 Canariaco Norte PEA study. Those results will be available shortly.
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