Four holes have been completed to date and assays have been received for the first two holes. The first two holes contain minor anomalous gold levels within intrusive breccias. Drilling has been slow due to fractured rock and the amount of silica being intersected in the holes especially the most recent holes. The style of silica, as well as alteration minerals being intersected are typical of high sulphidation systems such as those at the Yanacocha, Pierina and Alto Chicama gold deposits in Peru.
Drill holes five and six are now in progress and a total of 1313 metres have been drilled to date. Approximately 3,000 metres (m) (9840 feet) are planned to be drilled in 8 to 12 holes. Diamond drilling is being carried out by MDH S.A.C. of Lima, Peru. HQ size core is being recovered to about 150m depth and NQ size core below that. The drills being used are a Longyear 38 and a LF70 which are expected to be able to core to depths of 350 to 400 meters (m).
Drilling is being focused on an extensive high sulphidation style gold-silver target. This target comprises a highly resistive body with features typical of massive silica which has been delineated over a length of 2 kilometres (km) and a width of up to 500 metres (m) by an Induced Polarization (IP) and Resistivity survey. Anomalous levels of gold, silver, lead, arsenic, barium, mercury and antimony in soils occur with or near the resistive body and continue for approximately 1 km to the north-east. The elements mentioned above are typical of high sulphidation gold-silver systems and the coincidence of them with the resistive body indicate that they are related (See News Release 171 dated July 11th, 2006). The drilling at Pamel is proceeding in a systematic pattern to test all areas of the resistivity anomaly.
All results, maps and photos can be viewed at: http://www.candente.com/s/PeruProjects_Pamel.asp.
All samples are being collected by Candente's Peruvian geologists in accordance with industry standards and are submitted to Actlabs in Lima, Peru. Gold analyses will be carried out by fire assay with an Atomic Absorption (AA) finish in Actlabs laboratory in Lima. An additional 35 elements will be analyzed using Inductively Coupled Plasma (ICP) in Actlabs laboratory in Ontario, Canada. Robert van Egmond, P.Geo., Senior Geologist is one of the Qualified Persons as defined by NI 43-101 for the project and has read and approved the contents of this release.
Orex has the right to earn a 51% interest in the property (See News Release 146 dated November 28th, 2005.)
Candente is a diversified exploration company with copper, gold, silver, and zinc projects in Peru and Mexico. Candente subscribes to principles, which ensure that its exploration and development activities are beneficial to the local communities.
Orex is a junior mineral exploration company, comprised of highly qualified mining professionals with a current focus on the exploration of prospective gold properties in Peru. Management is actively engaged in the acquisition of new properties in South America.
Joanne Freeze, P. Geo.
President & CEO
Candente Resource Corp.
Release No. 190
Gary Cope
President & CEO
Orex Ventures Inc.
For further information from Candente, please contact Kelly Gray at: (604) 689-1957 or toll free 1-877-689-1964
info@candente.com www.candente.com.
For further information from Orex, please contact Investor Relations at: (604) 684-4691
info@orexgold.com www.orexgold.com.
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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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.