Vancouver, British Columbia, October 19th, 2005. Candente Resource Corp. (DNT:TSX) is pleased to report that the potential for an additional 325 million tonnes (Mt) of copper mineralization has been added to the existing inferred resource of 76.5 Mt at Cañariaco Norte, Northern Peru. Contained metal in the 76.5 Mt equals 1.035 billion pounds of copper and 243,000 ounces of gold. The 76.5 Mt inferred resource has a grade of 0.61% copper (Cu) and 0.1 grams per tonne (gpt) gold. Estimated grade for the 325 Mt potential is between 0.45% and 0.65% Cu.
The additional 325 Mt potential is based on 13 holes grid-drilled by Candente in 2005 (holes 05-13 to 05-25) for which assays have been received. The new area covers 38.75 hectares (Ha) and extends south of the inferred resource area of 14 Ha.
Drilling continues to expand the size of the deposit beyond the 325 Mt potential. As reported on October 17th, 2005, recently completed holes (05-26 and 05-27) show an increased width of 250 m to the deposit (assays pending). In addition, the thickness used to calculate the 325 Mt potential does not take into account the full depth of hole 05-14, which intersected mineralization to a depth of 644 meters (m).
Average copper, gold, molybdenum and silver grades for the 25 holes grid-drilled by Candente in 2004 and 2005 have now been compiled and are shown in the table below. These numbers do not include leach cap, late mineral dykes and lower grade breccia zones especially at the bottom of the holes, which will likely be considered to be waste material.
Average Grades from Candente's 25 holes (assays received to date)
|Mineralization Style||Cu %||Au ppm||Mo ppm||Ag ppm|
|Total Copper: Chalcocite and Chalcopyrite||0.56||0.087||29.3||2.0|
|*Leachable: > 60% chalcocite||0.60||0.066||n/c||n/c|
|Mixed: > 40% Chalcopyrite||0.51||0.092||n/c||n/c|
n/c - Not calculated
* Approximately 44% of deposit to date
For more information please refer to:
Qualifiers on the Calculation of the Additional 325 Mt Potential Copper Mineralization
The potential tonnage was derived by multiplying the surface area by the average width of mineralized intercepts (to give cubic m (m3)) by the specific gravity (tonnage factor derived from testing for the inferred resource estimate). Specifically this is 500 m east-west by 775 m north-south by 336 m vertical by 2.50 tonnes/m3. The area of influence used for the 325 Mt potential was 100 m laterally and 60 m vertically whereas the area of influence (circular search radius) used in the inferred resource was 75 m laterally and 60 m vertically. The difference is due to the drill hole density of the two areas and the presence of visible mineralization in additional drill holes (05-26 and 05-27) and on surface. Porphyry copper deposits tend to be more homogeneous than most deposits so the application of the variograms from the resource calculation in the northern area is applicable to the calculations for the southern half. The area included in the 325 Mt potential and the area of the preliminary resource estimate are homogeneous in lithology, alteration and mineralization. The potential tonnage estimate does not include leach cap, late mineral dykes and lower grade breccia zones especially at the bottom of the holes, which will likely be considered to be waste material.
The tonnage and grade estimate of the area added to the deposit by 2005 drilling is preliminary and conceptual in nature. At this time, there has been insufficient exploration in the additional area to define a mineral resource outside of the existing mineral resource of 76.5 Mt already reported. In addition, drill holes may be too widely spaced and geology too speculative to have detailed economic considerations applied to them which would allow the calculation of an inferred mineral resource estimate for the additional area and it is uncertain if further exploration will result in the definition of a larger inferred mineral resource estimate on the property. There is no certainty that the additional 325 Mt potential will be realized. Further drilling is needed to upgrade the potential tonnage to an inferred category. However, there is no guarantee that further drilling will intersect what has been assumed for this calculation.
Sampling and analytical procedures conform to NI 43-101 standards and are detailed in previous Candente news release dated September 7, 2005. Michael Casselman, P.Geo., Robert Van Egmond, P.Geo., and Joanne Freeze, P.Geo., are the Qualified Persons for the project as defined by NI 43-101 and have reviewed this news release.
Candente is a diversified copper and gold exploration company focused on increasing shareholder value through discovery. In addition to the Cañariaco Project, Candente has several other gold, copper and silver projects in Peru. Candente subscribes to principles which ensure that its exploration and development activities are beneficial to the local communities.
For further information please contact Candente at: (604) 689-1957 or toll free 1-877-689-1964
ON BEHALF OF THE BOARD OF DIRECTORS
"Joanne C. Freeze"
Joanne Freeze, P. Geo., President & CEO
Candente Resource Corp.
Release No. 141
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. Candente relies upon litigation protection for forward-looking statements.