A Pre-Feasibility Study Progress Report ("PFSPR") was completed by AMEC on March 11th, 2011 and is available for download from Candente Copper's website at:
"The PFSPR clearly indicates that Cañariaco Norte is an extremely attractive copper project with robust economics and a sound development plan," commented Sean Waller, President of Candente Copper. "It is our objective to continue to de-risk the project by taking the engineering to the next level, which we anticipate will provide the basis to make the decision to proceed to construction. Moving ahead immediately to a FS with the AMEC team is an important factor in maintaining the overall schedule for project development."
Key Aspects of the Feasibility Study
The Feasibility Study will be based on the scope of development presented in the PFSPR, although several aspects will be subject to additional investigation and optimization. The FS will see the level of engineering and economic analysis completed to a significantly higher accuracy level than the PFSPR, with the objective of finalizing the scope of project development, and completing capital and operating costs estimates to an accuracy of plus or minus 15%.
Project aspects that will see additional development and/or optimization include:
Production Rate: The Cañariaco Norte copper deposit may warrant a higher production rate. The production rate will be reassessed to determine the optimum production scenario.
Geotechnical Investigation: Geotechnical drilling and investigations will be completed in the areas of the pit walls, plant site, and tailings management facility.
Metallurgical Test Work: Including variability flotation tests and concentrate roasting tests for confirmation of process design parameters and concentrate specifications.
Concentrate Off-Take: Enter into discussions with smelters for concentrate off-take.
As Candente did during the PFSPR, FS progress updates will be issued as certain milestones are achieved during the Feasibility work program.
About Candente Copper
Candente Copper Corp is a TSX and BVL listed mining company focused on exploration and development of base metal mining projects in Peru and Latin America. Candente Copper's flagship project is the 100% owned Cañariaco Norte copper project located in northern Peru's prolific mining district.
Mr. Sean Waller, P.Eng., President of Candente Copper is a Qualified Persons as defined by National Instrument 43-101, has reviewed and approved the contents of this release, and is responsible for the information contained in 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, geotechnical assumptions, geological interpretations, receipt of property titles or permits, 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 of 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
For further information please contact:
VP Corporate Development
mobile: +1 (604) 614-2999
local: + 1 (604) 689-1957 ext 2
toll free: 1 (877) 689-1964 ext 2
Manager, Investor Relations
mobile: +1 (604) 306-8477
local: + 1 (604) 689-1957 ext 3
Investor Relations, Peru
Tel.: (511) 715-2001 ext 107
Fax: (511) 717-1233