The drilling will test a 3.2 kilometre (km) structural trend where gold mineralization has been found in bedrock, angular rock float, soils and heavy mineral concentrate samples. Gold values of 0.5 to 25.7 grams per tonne (gpt) occur in sulphides in bedrock in three distinct zones. Gold values from one of the zones (70m by 30m) range from 0.5 to 13.5 gpt (several in the 1.5 to 5 gpt range) from 1m bedrock channel samples in trenches as well as from selected bedrock chip samples and angular float. Several high chargeability zones occur over the 3.2 km trend and often coincide with the gold-bearing sulphide mineralization found on the property. As is common in Newfoundland, overburden masks much of the bedrock on the 4900 hectare property.
Styles of mineralization, host rocks, structural setting and geochemical signatures found to date on the Staghorn Property are all typical of intrusion hosted-orogenic gold deposits found world-wide. These systems, such as the 175 and 19 million ounce gold deposits at Muruntau and Kumtor in Central Asia, represent some of the world's largest gold resources. The structural break believed to control the gold mineralization at Staghorn, may also be related to a new discovery of copper-lead-zinc-silver-gold mineralization by Messina Minerals, 35 km northeast of the property along the same structure.
Candente would like to take this opportunity to acknowledge and thank the Newfoundland and Labrador Department of Natural Resources for the receipt of grants from the Junior Company Exploration Assistance Program (JCEAP). The grants were applied toward 2004 exploration work completed on several of Candente's properties throughout Newfoundland.
Drilling is being carried out by Petro Drilling Company Limited of Newfoundland. Ed Northcott and Gilbert Lushman, the prospectors who made the original gold discovery at Staghorn, are assisting with all phases of exploration on the property. All diamond drill core will be logged and handled by Candente's geologists in accordance with industry standards. Quality Assurance and Quality Control, (QA/QC) protocols including the use of sample standards, blanks and duplicates as well as chain of custody is monitored by Mike Casselman, M.Sc., P.Geo., General Manager Exploration and Director of Candente and Robert Van Egmond, P. Geo. consultant to Candente. Casselman and Van Egmond are the qualified persons (QP) as defined by NI 43-101 for the Staghorn project and they have verified the information, have read and approved the contents of this release.
The core will be cut in half (length-wise) with a diamond saw and samples will be submitted to Eastern Analytical Labs Ltd. ("Eastern") in Springdale, Newfoundland where they will be crushed, split and analysed. Gold analysis will be performed by Fire Assay Fusion and Atomic Absorption analytical methods on a 50 gram split. Pulps from the same samples will then be sent to Acme Analytical Laboratories ("Acme") in Vancouver, B.C., Canada and analysed for an additional 35 elements (including silver) plus tellurium using Inductively Coupled Plasma (ICP). In addition five percent of all samples will be re-analysed by fire assay by Acme duplicate checks for quality control.
For more technical information on the Staghorn property, please refer to:
Candente is a diversified exploration company whose focus is to increase shareholder value through discovery. Candente has an advanced exploration stage copper project, Cañariaco, and several other gold and gold-copper projects in Peru and Newfoundland. Candente's directors have individual track records in both the discovery and development of multi-million ounce gold and silver, and multi-billion pound copper deposits. For more information visit www.candente.com, call us at (604) 689-1957, toll free 1-877-689-1964 or e-mail to firstname.lastname@example.org.
ON BEHALF OF THE BOARD OF DIRECTORS
"Joanne C. Freeze"
Joanne Freeze, P. Geo., President & CEO
Candente Resource Corp.
Release No. 124
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.