Candente earned 100% interest in the property from Hecla Mining Corp. in 2003 by issuing 100,000 common shares and granting a 2.5% NSR with a buyout of 1.5% for US$1.5 million. International Royalty Corporation (TSX: IRC) ("IRC") purchased the Net Smelter Return (NSR) from Hecla in February of 2005. Joanne Freeze, P.Geo., President and CEO of Candente comments that "the purchase of the NSR on Alto Dorado by International Royalties shows that they consider the property to have excellent potential for hosting a significant gold and copper deposit. Our option of this property in 2002, which lies 35 km south of Barrick's new gold mine Alto Chicama, was very timely."
The gold-copper mineralizing system at Alto Dorado is delineated by anomalous levels of gold, copper, molybdenum and silver in soils and rocks as well as typical porphyry style alteration which all cover an area 9 km by 2 to 3 km. Within this area an Induced Polarization (IP) chargeability anomaly (often associated with sulphide gold and copper mineralization) covers 7 km by 2 km. Two holes drilled 5 km apart intersected anomalous gold and copper levels over 176 m and 160 m vertically (0.22 gpt Au, 0.17% Cu and 0.13 gpt Au, 0.08% Cu). These grades are typical of those often found on the margins of world-class gold-copper deposits such as Northern Dynasty's Pebble Deposit. Mike Casselman, who carried out some of the formative exploration on the Pebble Deposit in 1996 to 1997 comments "-that many of the features we see at Alto Dorado such as extensive and coincident multi-element geochemical anomalies, IP chargeability zones and intense porphyry style alteration are very similar to that seen in the early days of Pebble exploration".
For more technical information on the Alto Dorado property please refer to:
Sampling and analytical procedures conform to NI 43-101 standards and are detailed in previous Candente news release dated September 16, 2004. All samples were submitted to Actlabs in Lima, Peru. Michael Casselman, 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, gold and silver exploration company with a focus to increase shareholder value through discovery. Candente has an advanced exploration stage copper project, Cañariaco, and several other gold, copper and silver projects in Peru.
For further information please contact Candente at:
(604) 689-1957 and 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. 143
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.