- Four holes intersected significant leachable copper outside of 325 Mt potential area*
Vancouver, British Columbia, October 26th 2005. Candente Resource Corp. (DNT:TSX) is pleased to report that two additional drill holes (05-028 and 05-029) have been completed to depths of 352 metres (m) and 329 m, respectively, and have intersected significant leachable copper (Cu) mineralization. This now makes four drill holes (05-26 to 05-29) that demonstrate expansion to the deposit size beyond both the previously delineated inferred resource of 76.5 million tonnes (Mt) and the area of 325 Mt potential. Drilling continues at 150 metre spacings and assays will be reported when received and compiled on a two hole basis.
Cañariaco, located in Northern Peru, has several features which could make the project a low-cost copper producer:
- Leachable Copper -- approximately 44% of deposit to date
- Only a six hour drive to ports on the Pacific Coast
- Low strip ratio -- less than 1:1
- Low elevations -- less than 3,000 metres ASL
- Power within 60 km
- Abundant water supply
- Flat dry areas for leach pad sites
The first 25 holes drilled by Candente at Cañariaco delineated an inferred resource of 76.5 Mt grading 0.61% copper (Cu) and 0.1 grams per tonne (gpt) gold as well as potential for an additional 325 Mt grading between 0.45% and 0.65% Cu (as reported on October 19th, 2005*). Contained metal in the inferred resource alone is 1.035 B lb copper and 243,000 oz gold.
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. 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. 142
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.