Vancouver, British Columbia, December 7th, 2005. Candente Resource Corp. (DNT:TSX) (Candente) is pleased to announce that 40 metres (m) of 1.03% leachable copper (Cu) has been intersected in the Eastern potential starter pit area and that the near surface leachable copper mineralization has been expanded to a width of 750 m.
To date three potential starter pit zones have been identified in the southwestern and eastern areas and in the northern half of the deposit. In these areas, leachable copper occurs close to surface and in favourable topography and at grades which could allow early payback of capital expenditures.
The increased width of the copper deposit to 750 m is an excellent advance for the project such that, in combination with topography, an open pit across this width could now be large enough to access the full 640 vertical metres of copper mineralization demonstrated by drill hole 05-14. Previously a depth of only 221 m was used in the inferred resource (76.5 Mt grading 0.61% Cu -- DDH 05-001 to 012) and a depth of only 336 m was used in the additional potential (325 Mt grading between 0.45% and 0.65% Cu -- DDH 05-013 to 025, as reported on October 19th, 2005).
Candente has now completed an additional 11 holes at Cañariaco Norte (05-26 to 36) and assay results have been received for 7 of the 11 holes (05-26 to 05-32). Six of the seven holes intersected significant copper mineralization and five of these demonstrate a large expansion of the area containing open pittable leachable copper mineralization. DDH 05-030 intersected a significant new zone of chalcopyrite mineralization with an average grade of 0.43% Cu over 229 m (27 to 256 m).
Highlights of Open Pittable Leachable Copper Zones
|New Holes||From (m)||To (m)||Width (m)||Grade (%)||Leachability (%)|
|Previous Holes||From (m)||To (m)||Width (m)||Grade (%)||Leachability (%)|
The following table has been included for general reference for leachable grades.
Profitable Heap Leaching Copper Operations
Cu (M lbs)
|Falconbridge||Lomas Bayas, Chile||Mine||572||0.28||3,530||0.47|
|Anglo American||Mantoverde, Chile||Mine||310||0.60||4,100||0.58|
|Phelps Dodge & Azco Mining||Piedras Verdes, Mexico||Mine||281||0.37||2,287||0.52|
|Phelps Dodge||Dos Pobres, USA||Mine||516||0.34||3,859||0.52|
|Phelps Dodge & Codelco||El Abra, Chile||Mine||800||0.55||3,980||0.44|
not yet determined
For more information such as maps, sections, drill data please refer to:
Sampling and analytical procedures conform to NI 43-101 standards and are detailed in previous Candente news release dated September 7, 2005. All samples were submitted to Actlabs in Lima, Peru. 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. 147
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.