The Company (Candente) is pleased to report that Candente has completed the acquisition of 100% interest in the Alto Dorado Gold Property from Hecla Mining Company. A total of 100,000 shares have been paid to Hecla. Hecla retains a two and one-half percent (2.5%) Net Smelter Return (NSR), which can be reduced to 1.0% by paying to Hecla the sum of US$1,500,000.
AK Drilling International S.A. has been contracted to carry out a short hole overburden drilling program on the Toril Zone, one of three gold zones identified on the Alto Dorado Property. Approximately 25 to 30 short holes are planned to be drilled to an average depth of 15 metres using a reverse circulation drill. This shallow drilling is intended to penetrate overburden and sample the bedrock below. The drilling program is scheduled to commence in early September and expected to take three weeks to complete.
Overburden drilling will be carried out in areas where previous work, ie. trenchs, pits, geochemical and geophysical surveys, indicate the potential for shallow mineralized zones. Gold mineralization found to date at Toril ranges in grade from 0.5 to 3.6 grams per tonne (gpt) in outcrop as well as in trenches and pits. The Toril Zone hosts high sulphidation style gold mineralization similar to that found in the major Peruvian gold mines, Yanacocha and Pierina, where average grades are from 1 to 3 gpt and cutoff grades are 0.4 gpt. Surface mapping and geophysical surveys indicate that the Toril Zone covers a minimum of 3 km by 1.8 km.
The Alto Dorado Property is located nearly half way between the Yanacocha and Pierina Mines and 36 km south-southeast of Barrick Gold's recent gold discovery Alto Chicama. Exploration will continue over the next several months to advance Alto Dorado to the bedrock drilling stage.
On another matter, management would like to invite you to come and meet Joanne C. Freeze, President & CEO and other Company personnel at the following conferences: the New York IIC Conference Sept 8th and 9th; the Cambridge Calgary Investment Conference October 4th and 5th; and the Chicago Natural Resource and Technology Exhibition and Conference, October 25th.
Candente is a mineral exploration company focused on the acquisition, exploration and development of world-class gold projects. Management has a track record of discovering world-class mines. For more information on our current exploration progress visit www.candente.com and/or contact us at (604) 689-1957, toll free 1-877-689-1964 or investor@candente.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Joanne C. Freeze"
Joanne C. Freeze, P.Geo., President & CEO
CANDENTE RESOURCE CORP.
The TSX 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.