Release No. 77
The Company (Candente) is pleased to report that geophysical test surveys on the Toril Zone of the Alto Dorado Property in Northern Peru have been successful, both in identifying extensions to known gold zones and in identifying potential buried gold zones.
At the Toril Zone, shallower (IP) surveys showed distinct resistivity signatures over the two main gold zones outcropping on surface and indicate that these zones have some extension to depth. The deeper (TDEM survey) has also identified a highly resistive zone, which does not reach the surface and therefore could represent a buried siliceous body.
(For diagram please see (http://candentecopper.com/site/assets/files/4980/theoretical_xsection-jun042.jpg).
The geophysical surveys also indicate that the hydrothermal system has a minimum length of 3 kilometres. Considering that the gold mineralization at Toril occurs in silica bodies this could represent a drill target with high potential. It should be noted that, the surveys were very preliminary and therefore additional surveys will be required prior to drilling these targets.
Similar geophysical surveys have previously been used in Peru to assist in the discovery of ore bodies with mineralization similar to that being found at Alto Dorado. At the Toril Zone of Alto Dorado, geophysical surveys are considered to be important especially where weathered bedrock is known to mask zones of mineralization. Earlier this season, gold grades of 1.4 and 3.6 gpt were found in bedrock at a 6 metre depth in a pit. Soils sampled at surface above the pit do not indicate the presence of this mineralization.
The geophysical test surveys were carried out by Val d'Or Geofisica (Peru) S.A. which included Magnetics, Induced Polarization/Resistivity (IP) and Time Domain Electromagnetic soundings (TDEM).
Three distinct gold zones have now been identified on surface on the Alto Dorado Property. The Toril Zone hosts high sulphidation style gold mineralization similar to that found in the major Peruvian gold mines, Yanacocha and Pierina. Gold values from 0.7 to 3.6 grams per tonne (gpt) occur in outcrop as well as in trenches and pits at Toril. To date gold has been found in vuggy silica, granular silica and quartz-alunite breccia, which are all typical of high sulphidation systems. Surface mapping in combination with the geophysical surveys now indicate that the Toril Zone covers at least 3 km by 1.8 km.
The Alto Dorado Property is located half-way between the Yanacocha and Pierina Mines and 36 km south-southeast of the Alto Chicama property where Barrick Gold recently announced a new discovery in excess of 7 million ounces of gold. Candente is earning a 100% interest in the property pursuant to an Option to Purchase Agreement with Hecla Mining. Exploration will continue over the next several months to advance Alto Dorado to the bedrock drilling stage. Geological mapping, geochemical sampling, geophysical surveys and overburden drilling is planned.
Management would also like to report that the Company is well financed with Cdn$1,700,000 in the treasury. Since the start of 2003, 2.6 million warrants have been exercised to raise Cdn$693,009.
Candente is a mineral exploration company focused on the acquisition, exploration and development of world-class gold projects and has a strategic partnership with a premier gold producer. 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.