Under the guidance of AMEC Americas Ltd ("AMEC"), various trade-off studies have been undertaken. Two key studies are now complete, and technical development options have been selected which are expected to significantly improve the project economics.
The first study assessed various process plant capacities and, based on the results, the production rate will be increased to 85,000 tonnes per day. This is a 13% increase over the 75,000 tonnes per day plant capacity specified in the 2008 SRK Preliminary Economic Assessment ("PEA"), and is estimated to result in a corresponding increase in annual copper production. The increase in plant throughput will be achieved by optimizing the PEA grinding circuit design, including increasing the size of the secondary ball mills and increasing the projected plant availability by 2%, which reflects current industry experience. The impact on the capital cost of the grinding circuit due to these changes is expected to be minimal as the sizes of the primary crusher and Semi-Autogenous Grinding ("SAG") mill remain unchanged from what was specified in the PEA.
In the second study, AMEC has assessed the various processing technologies currently available to reduce the content of arsenic in the copper concentrate to non-penalty levels, and they have proposed utilizing a concentrate roasting process offered by Outotec Oyj ("Outotec") of Finland. This process technology is currently being supplied by Outotec to CODELCO for a similar application at its new Ministro Hales mine in northern Chile. As part of the current metallurgical test work, samples of Cañariaco Norte flotation concentrate will be submitted to Outotec for testing to confirm the applicability of their process to the concentrate.
As previously reported in Candente Copper news release 007, a proposed new port site near the port of Eten has been selected by Candente Copper for a copper concentrate load-out facility. Eten is only 240 kms from the Cañariaco Norte mine site, whereas the port of Salaverry, which was used in the Cañariaco Norte PEA, is 420 kms from the mine site. The reduced distance will significantly reduce life-of-mine concentrate transport costs.
The new port near Eten has been proposed by Lumina Copper SAC ("Lumina") for development of a concentrate loadout facility for its El Galeno copper project in Northern Peru. Very significant positive benefits to both projects are anticipated by the development of a shared loadout facility, and Candente Copper and Lumina have initiated discussions regarding the potential of a shared-use facility.
"We are very pleased with the progress to date, as we have made several very significant improvements to the scope of project development, and we anticipate additional improvements as we continue to develop the Cañariaco Norte project through the Pre-Feasibility Study," commented Sean Waller, P.Eng., President of Candente Copper.
The Cañariaco Norte Copper Project Pre-Feasibility Study is scheduled for completion in the fourth quarter of 2010.
About Candente Copper
Candente Copper's flagship project is the 100% owned, 7.7 billion pound, feasibility stage Cañariaco Norte Copper Project located in northern Peru's prolific mining district. The Cañariaco Norte deposit contains a Measured and Indicated resource of 622 million tonnes grading 0.52% copper equivalent, and an Inferred Resource of 128 million tonnes at 0.47% copper equivalent*.
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Sean Waller, P.Eng., President and Joanne C. Freeze, P.Geo., CEO, are the Qualified Persons as defined by National Instrument 43-101 for the projects discussed above. They have reviewed and approved the contents of this release. All resources quoted in this release are based on a 0.30% copper cut-off grade and 60,580 metres drilled in 213 holes to March 2008. *The 'Measured and Indicated Resource' listed above consists of Measured Resources of 237Mt at 0.51% Cu, 0.08 g/t Au, and 1.94 g/t Ag, plus Indicated Resources of 385Mt at 0.45% Cu, 0.07 g/t Au, and 1.76 g/t Ag. The 'Inferred Resource' listed above consists of 128Mt at 0.43% Cu, 0.06 g/t Au, and 1.64 g/t Ag. All copper equivalent grades quoted in this release are based on US$1.90 per pound copper, US$600 per troy ounce gold, US$10 per troy ounce silver, and 100% metal recoveries.
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.
CAUTIONARY NOTE TO U.S. INVESTORS
We advise U.S. investors that this news release uses terms that are not recognized by the United States Securities and Exchange Commission ("SEC"), including "mineral resources", "measured resources", "indicated resources" and "inferred resources". The estimation of measured and indicated resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned not to assume that mineral resources in these categories will be converted to reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. U.S. investors are cautioned not to assume that estimates of inferred mineral resources exist, are economically mineable, or will be upgraded into measured or indicated mineral resources. U.S. investors are cautioned not to assume that mineral resources in any of these categories will be converted into reserves.
On behalf of the Board of Candente Copper Corp.
"Sean Waller" P.Eng.
President & Director
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For further information please contact:
John Foulkes
VP Corporate Development
mobile: +1 (604) 614-2999
local: + 1 (604) 689-1957 ext 2
toll free: 1 (877) 689-1964 ext 2
info@candentecopper.com
or:
Walter Spagnuolo
Manager, Investor Relations
mobile: +1 (604) 306-8477
local: + 1 (604) 689-1957 ext 3
www.candente.com
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