Las Sorpresas, borders the southern edge of the Yanacocha Mines Property. Yanacocha is one of the largest heap leachable gold mines in the world with reserves in excess of 35 million ounces of gold. Newmont's 51% interest in this mine constitutes only 25% of their worldwide production yet provides approximately 75% of their annual profit.
The Las Sorpresas property contains anomalous levels of gold in stream sediment samples. The levels of gold are highest (189 to 789 ppb) towards the centre of the property indicating a gold source within Las Sorpresas. Also near the centre of the property, anomalous levels of mercury occur in soils. Mercury is one the exploration tools used to discover buried gold zones at Yanacocha. Exploration on Las Sorpresas will continue at the end of the current rainy season.
The Company initially acquired a 50% interest in the properties from Britannia Minerals Corp. (now Nanotek) in 1999 when they chose to cease their exploration activities in Peru. The Company earned a majority interest in all three properties by carrying out exploration programs during 1999 and 2000. In January of 2001, the Company negotiated an agreement to acquire 100% undivided interest (no NSR) by paying Britannia 500,000 common shares in the Company.
Candente is a junior exploration company focused on the acquisition, exploration and development of world class gold and copper projects in Peru. For more information on our current exploration progress visit http://www.candente.com and/or call Joanne Freeze at (604) 689-1957 or e-mail to mailto:info@candente.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Joanne C. Freeze"
Joanne Freeze, P. Geo., President & CEO
Candente Resource Corp.
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
This News Release may contain forward-looking statements including but not limited to comments regarding the 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.