Candente Resource Corp. (TSX-V: DNT) reports that the Company has expanded the extent of gold mineralization on the Staghorn property from 1 to 3 kilometers (km). Early stage results show geological similarities to intrusion-hosted orogenic deposits such as the 175 and 19 million oz gold deposits at Muruntau and Kumtor in Central Asia.
The 3 km extent of gold mineralization is evident in three main zones in bedrock, angular rock float, soils and heavy mineral concentrate (HMC) samples. Gold values ranging from 0.5 to 25.7 grams per tonne (gpt) -- (many in the 3 to 5 gpt range) occur in one zone in rocks comprising 1m channels in trenches, selected samples and angular float in pits over a 70 by 30 m area. The trenched portion extends 42 meters (m) in length and 10 to 20 m in width.
This recently discovered zone was exposed by the removal of 10 metres of overburden. Locally derived angular, mineralized float can be found for several hundreds of meters on either side of the trenched bedrock mineralization. Overburden masks outcrop exposure outside the trenched area and on much of the property.
Recent interpretation of an airborne geophysical survey has identified three elongate 0.5 to 1.5 km magnetic features, which could be buried intrusions or pyrrhotite-bearing mineralized bodies, proximal to the areas of known gold mineralization.
The main gold centre is focused on a mega-kink fold (dilational jog) at the intersection of two faults where deformed granite is intruded by a series of undeformed igneous phases. Gold mineralization occurs in multiple directions of sheeted and stockwork quartz/sulphide veins.
Mineralization comprises arsenopyrite-pyrite-chalcopyrite-tetrahedrite-sulphosalt-gold (a reduced intrusion-related suite) in four distinct phases:
(1) quartz-arsenopyrite-pyrite-tetrahedrite-chalcopyrite-sulphosalts-gold veins
(2) pyrrhotite skarn mineralization
(3) iron carbonate cemented breccias sulphide bearing breccias +/- base metal sulphides
(4) gold placers
The styles of mineralization, host rocks, structural setting and geochemical signature found to date are all typical of intrusion hosted-orogenic deposits. The Company continues to advance exploration on this and other properties in Newfoundland.
The Company can earn 100% interest in the property by making cash payments totalling Cdn$105,520; issuing a total of 120,000 common shares; and making an aggregate of Cdn$500,000 in exploration expenditures over four years. The property is subject to a 2.5% NSR which may be reduced from 2.5% to 1.5% with a payment of Cdn$1,000,000.
Candente is a junior exploration company focused on the acquisition and exploration 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 at 1-877-689-1964; or e-mail to: 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.