Candente Resource Corp. ("the Company") is pleased that exploration on the Luna (Lunahuana) Property (100% undivided interest) indicates that the new Blanquitos zone hosts the most significant mineralization found to date and is believed to significantly increase the mineral potential of the Luna Property.
Blanquitos has now been traced over a 1,500 metre (4,920 foot) length and a width of 25 to 100 metres. Two distinct styles and ages of mineralization have been identified within this trend, earlier mineralization is gold and copper combined and a later phase comprises gold alone. Both styles crosscut and have mineralized several different rock types including mudstones, bituminous limestones, volcaniclastic sediments and diorite to microdiorite stocks.
The later gold mineralization occurs in hydrothermal alteration zones associated with Tertiary (?) feldspar porphyry stocks. Gold values of up to 6 grams per tonne (gpt) occur over an area extending 10 metres by 5 metres in one of these zones. An additional 5 metres of similar but less intense alteration carries 0.57 gpt gold. The porphyries intrude all older rocks and their alteration crosscuts the earlier gold-copper mineralization. Hydrothermal alteration comprises strong pervasive silicification, brecciation and stockwork of quartz and limonite veinlets and microveinlets, and argillic alteration. Disseminated pyrite occurs throughout.
The earlier copper-gold mineralization is associated with pervasive silica alteration and stockwork zones of quartz, actinolite, chlorite and magnetite. This mineralization is believed to fit an iron oxide copper-gold setting, which has previously been recognized within both the Santa Rosa and Negritos trends on the property. This style of alteration is much more pervasive at Blanquitos than in the other two zones. Each of the three zones extends over distances of approximately one kilometre each and widths of up to 300 metres; they parallel each other following a north-northwesterly strike.
Three IP (high chargeability) anomalies have been identified as excellent targets for bulk tonnage mineralization on the property. One anomaly occurs within the Negritos zone and another follows the same trend as the Blanquitos Zone. The geophysical data is currently being correlated with all geological data to date to assist with delineating drill targets.
In another matter, the exercise price of warrants described as part of the private placement announced on April 24th and revised on May 11th, 2002 has been increased to comply with TSX regulations. The exercise price will now be $0.44 per share during the first 12 months and $0.49 per share during the second twelve months.
Candente is a junior exploration company focused on the acquisition, exploration and development of world class gold and copper projects. For more information on our current exploration progress visit www.candente.com and/or call us at (604) 689-1957, toll free 1-877-689-1964 or e-mail to 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.