Vancouver, British Columbia, June 9, 2022. Candente Copper Corp. (TSX:DNT, BVL:DNT, US:CCOUF) ("Candente Copper” or “the Company") is pleased to announce that Whittle Consulting Ltd (“WCL”) has been engaged to conduct an Enterprise Optimization(“EO”)of the Company’s Cañariaco Norte Project in Peru. The EO involves a rigorous analytical and computational process using WLC Strategic Mine Planning software and Integrated Strategic Planning concepts.
The analysis will be completed remotely over the course of a few months. The EO will overlap in time with trade-off studies and metallurgical test work that is planned to be completed as part of the Feasibility Study and will contribute greatly to it. WCL works synergistically with other engineering firms including Ausenco Engineering Canada Inc., Knight Piesold and various others who may be part of the Cañariaco Norte Feasibility Study.
WCL has demonstrated in over 180 Enterprise Optimization studies, that the comprehensive application of the “Whittle Integrated Strategic Planning” approach have yielded improvements in the economics estimated by previous studies in many mining projects, even when several conventional optimization approaches have already been applied.
WCL has the most advanced Strategic Mine Planning software in the form of “Prober E”. The product of 35 years of optimization software development by founder Jeff Whittle, it combines Linear Programming with a sophisticated proprietary Search Algorithm, a Genetic Algorithm, and the ability to harness multiple processors on 200+ in-house servers and dedicated servers in Helsinki. This allows them to explore complexity and optimize even the largest and most complex multi-variable, non-linear problems that mining involves.
WCL is a group of highly experienced industry experts, who have strong technical backgrounds in a range of disciplines including geology, mining engineering, metallurgy, research, mathematics and computing, finance, operational/financial modeling and analysis and a thorough appreciation of practical, organizational, and contextual reality. They are comfortable with complexity, not being bound by conventional thinking, and by being willing to challenge existing paradigms and conventional wisdom which can conceal the real potential of mining businesses.
WCL has solid worldwide experience in optimizing copper/gold open pit mining and mineral processing systems including Boliden’s Aitik, Rio Tinto’s Kennecott, Mantos’ Monteverde, Barrick’s Cerro Casale, Gold Fields’ Cerro Corona, McEwen Copper’s Los Azules and others.
About Candente Copper
The Company’s flagship project is Cañariaco, within which Cañariaco Norte, is the 10th largest late-stage copper resource in the world and 5th highest in grade (RFC Ambrian, December 2021 and Haywood, December 2021). In addition to Cañariaco Norte, the Cañariaco Project, includes the Cañariaco Sur deposit and Quebrada Verde prospect, all within a 4km NE-SW trend in northern Peru’s prolific mining district.
The Company is very pleased to now have Cañariaco Norte included in 4 research reports that compare various global copper projects. RFC Ambrian: Cañariaco Norte in top 10 of 23 projects with potential to involve third party M&A (December 2021); Haywood: Cañariaco Norte is one of 18 assets selected as likely to be considered by majors looking to acquire (December 2021); Deutsche Bank: Cañariaco Norte identified as one of 3 projects required to meet the upcoming copper supply-demand gap (February 2021); Goldman Sachs: Cañariaco Norte identified with incentive copper price in the lowest quartile of the top 84 copper projects worldwide (October 2018).
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking information within the meaning of Canadian securities laws (“forward-looking statements”). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. These forward-looking statements are made as of the date of this press release. Although the Company believes the forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. Such factors and assumptions include, among others, variations in market conditions; the nature, quality and quantity of any mineral deposits that may be located; metal prices; other prices and costs; currency exchange rates; the Company’s ability to obtain any necessary permits, consents or authorizations required for its activities; the Company’s ability to access further funding and produce minerals from its properties successfully or profitably, to continue its projected growth, or to be fully able to implement its business strategies. In addition, there are known and unknown risk factors which could cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements.
Known risk factors include risks associated with exploration and project development; the need for additional financing; the calculation of mineral resources; operational risks associated with mining and mineral processing; fluctuations in metal prices; title matters; government regulation; obtaining and renewing necessary licenses and permits; environmental liability and insurance; reliance on key personnel; local community opposition; currency fluctuations; labour disputes; competition; dilution; the volatility of our common share price and volume; future sales of shares by existing shareholders; and other risk factors described in the Company’s annual information form and other filings with Canadian securities regulators, which may be viewed at www.sedar.com. Although we have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. We are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.
On behalf of the Board of Candente Copper Corp.
“Joanne C. Freeze” P.Geo., President, CEO and Director
For further information please contact:
+1 475 455 9401