Vancouver, British Columbia, March 18th, 2021. Candente Copper Corp. (TSX: DNT, BVL: DNT) ("Candente Copper", "the Company") is pleased to announce that Yaku Consultores (“Yaku”) has been engaged to conduct and continue previous baseline studies at the Cañariaco Project located in Northern Peru. The work will be part of environmental impact studies and habitat protection for all exploration phases of permitting including drilling and also for the community and regional stakeholders.
“We are excited to be moving the Cañariaco project forward with Yaku’s environmental work and new engineering studies underway by Ausenco. Timing couldn’t be better as Cañariaco has been identified by both Goldman Sachs and Deutsche Bank as one of the top copper projects needed to supply the upcoming supply-demand shortage for copper.” says Joanne Freeze, President and CEO, Candente Copper.
Yaku is comprised of a team of highly experienced professionals focused on providing quality environmental and social consulting services. These services contribute to the sustainable development of the environment and exceed regulations.
Candente Copper has recently obtained the respective authorizations from SERFOR and PRODUCE (Peruvian authorities for National Forest and Wildlife Services and the Ministry of Production) to conduct new monitoring of Water Quality, Air Quality, Noise Levels and Biology, Wild Flora and Fauna and Hydrobiology. Yaku has begun collecting new data within the project area which will add significantly to the studies that Candente Copper has been conducting such since 2004.
Given the difficult situation for the community with the COVID-19 epidemic, the company is also collaborating with local health facilities to assist in the protection and care of citizens in the area surrounding Cañariaco. To date, the Company has assisted with PPE supplies and the operation of emergency health equipment.
About Candente Copper
Candente Copper is a mineral exploration company engaged in the acquisition, exploration, and development of mineral properties. The Company is currently focused on its 100% owned Cañariaco project, which includes the Feasibility stage Cañariaco Norte deposit as well as the Cañariaco Sur deposit and Quebrada Verde prospect, located within the western Cordillera of the Peruvian Andes in the Department of Lambayeque in Northern Peru.
Please see https://www.candentecopper.com/investors/presentations for details from previous resource and engineering studies which delineated 9B lbs copper, 2M oz gold and 54M oz silver in: Measured and Indicated Resources of 752.4 million tonnes grading 0.45% copper, 0.07 grams per tonne (“g/t”) gold and 1.9 g/t silver (0.52% Cu equivalent) containing 7.533 B lb Cu, 1.67 M oz Au and 45.24 M oz Ag and Inferred Resources of 157.7 million tonnes grading 0.44% copper, 0.06 g/t gold and 1.8 g/t silver containing 1.434 B lb Cu, 0.3M oz Au and 8.932 M oz Ag.
Details from the Cañariaco Norte Copper Project Pre-Feasibility Study Progress Report
available at https://www.candentecopper.com/site/assets/files/5389/canariaco-pfs.pdf estimate NPVs and IRRs of $1.06B and 17.5% at $2.50 Cu and $1.56B and 21.5% at $2.90 Cu. The Incentive Price for Cañariaco Norte is in the lowest quartile of top 84 copper projects worldwide named by Goldman Sachs. Cash Costs are also in lowest quartile of the copper industry.
Joanne C. Freeze, P.Geo., CEO, is the Qualified Person as defined by National Instrument 43-101 for the projects discussed above. She has reviewed and approved the contents of this release.
This news release may contain forward-looking statements including but not limited to comments regarding 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 Copper relies upon litigation protection for forward-looking statements.
On behalf of the Board of Candente Copper Corp.
“Joanne C. Freeze” P.Geo.
President, CEO and Director
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