Candente Resource Corp. - DNT:TSX-V (Candente) is pleased to report that it plans to commence a 2000 metre (minimum) diamond drilling program on the Alto Dorado Property in the first quarter of 2004. Drilling will be carried out both in the Toril high sulphidation gold zone and in the Olla gold-copper porphyry zone where overburden drilling, geochemical and geophysical work has recently been completed (see News Release No.78 August 25th, 2003). The Alto Dorado Property is located in the Northern Peru Gold Belt, 36 km south-southeast of Barrick Gold's recent gold discovery, Alto Chicama.
Drill targets to date in the Toril Zone comprise three highly resistive zones underlying gold-bearing vuggy silica breccias. In the breccias, gold grades ranging from 0.5 to 3.6 grams per tonne (gpt) have been obtained from 27 samples of outcrops, trenches and pits and ranging from 0.3 to 1.4 gpt from reverse circulation drill cuttings (by previous property owner Hecla Mining Company and more recently by Candente). The breccias are typical of high sulphidation systems such as those hosting the major Peruvian gold mines, Yanacocha and Pierina where average gold grades are from 1 to 3 gpt with cut off grades of 0.35 gpt. The Toril Zone covers a minimum area of 3 km by 1.8 km. Additional geophysical surveys will be carried out to delineate additional targets.
In the Olla Zone, copper and gold-copper mineralization has now been identified over a distance of 8 km in a series of porphyry centres. Gold grades ranging from 0.1 to 15.0 gpt occur in 95 outcrop samples and copper grades ranging from 0.04 to 1.38% occur in 115 outcrop samples. Previous reconnaissance drilling by Hecla intersected mineralization with intervals of up to 85 metres averaging 0.31 gpt gold and 0.19% copper. Individual two metre intervals assayed up to 1.42 gpt gold and 0.37% copper. Short hole (overburden) drilling by Candente intersected similar mineralization with grades of up to 0.65 gpt gold and 0.35% copper. Much of the Olla Zone is covered by colluvium and all of the drilling to date has been targeted solely on geochemistry. Diamond drill targets will be delineated by trenching and geophysics, which is in progress.
Satellite imagery and geological mapping has also identified several additional high sulphidation and high temperature exploration targets on the Alto Dorado Property, which are currently being followed up.
Exploration on the Alto Dorado Property to date by Candente has included 29 line kilometres of geophysical surveys, 450 metres of overburden (reverse circulation) drilling, geological mapping at scales of 1:20,000; 1:10,000 and 1:5,000 and the collection of in excess of 400 rock chip samples. Geophysical surveys comprise Induced Polarization/Resistivity (IP), Time Domain Electromagnetic Soundings (TDEM) and Magnetics. Similar geophysical surveys have previously been used in Peru to assist in the discovery of ore bodies with mineralization similar to that being found on the Alto Dorado Property.
For more technical details please refer to www.candente.com/s/Projects_Peru.asp?PropertyInfoID=655&View=5.
Candente is a well funded, aggressive mineral exploration company focused on the acquisition and exploration of world-class gold and copper projects. Management has a track record of discovering world-class mineral deposits. For more information on our exploration progress visit www.candente.com and/or call us at (604) 689-1957, toll free 1-877-689-1964 or e-mail to investor@candente.com.
ON BEHALF OF THE BOARD OF DIRECTORS
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. The company relies upon litigation protection for forward looking statements.