The first seven holes contained some anomalous gold values (117 to 327 parts per billion) from hydrothermal breccias and silica alteration. ICP analyses, which detect levels of 35 base and indicator elements such as silver, lead, zinc, barium, antimony and mercury have been received for the first 4 holes to date. Anomalous levels of barium, antimony and lead have been detected in some of the holes confirming that the mineral assemblage fits the high sulphidation model being tested by drilling.
Spectral analysis of the core in a number of the holes drilled at Pamel has identified silica-alunite alteration mineral assemblages similar to those seen in other economic high sulphidation systems in Peru such as at Yanacocha and Pierina. The alteration system at Pamel has proven to be very extensive.
The two additional drill holes will test areas where surface mapping and results from the initial drill holes indicate potential for mineralization at depth. Drill hole 10 is now in progress and a total of 2,167 metres have been drilled to date. Approximately 2500 metres (m) (8200 feet) are planned to be drilled in the 11 holes. Diamond drilling is being carried out by MDH S.A.C. of Lima, Peru and HQ size core to 150m and NQ size core below 150m is being recovered. The drill machine being used is a Longyear 38. The second drill reported in News Release 190, dated January 3, 2007, has completed the holes it was to drill and has been removed from the property due to deteriorating weather conditions.
Drilling has been 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) 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).
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 being submitted to Actlabs in Lima, Peru. Robert van Egmond, P.Geo., Manager Exploration Peru for Candente, is the Qualified Person as defined by NI 43-101 for the project discussed above and has read and approved the contents of this release. Gold analyses are being 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.
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. 196
Gary Cope
President & CEO
Orex Ventures Inc.
For further information from Candente, please contact Evelyn Cox 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.