Cañariaco Norte is a 100% owned feasibility-stage porphyry copper deposit within a prolific trend of producing mines and known deposits in northern Peru.
Since 2004, Candente Copper has drilled more than 72,000m in over 240 drill holes to define a 7.5B pounds Measured and Indicated, plus 1.4B pounds Inferred Porphyry Copper Deposit, with excellent expansion potential through two nearby, 100% owned porphyry targets.
In March 2011 the full Pre-Feasibility Study progress report was completed and returned exceptional economics, with an after-tax (restated in January 2017 following changes to the Peruvian mining taxation laws) Net Present Value of US$922M, an Internal Rate of Return of 17.3%, and a payback period of 4.4 years using the base case US$2.25 copper and an 8% discount rate.
From April 2011 to June 2013, the Company engaged in certain aspects of a definitive Feasibility Study. During that time metallurgical drilling was completed; 50% of geotechnical drilling was conducted; site layout, process plant, infrastructure and ancillary facilities design was well advanced; preliminary mine design was completed; and the Environmental and Social Impact study was approximately 80% completed.
The Cañariaco Norte Copper Deposit is a single, contiguous, open-pit mineable deposit containing:
Measured and Indicated Resources 752.4 million tonnes grading 0.45% copper containing 7.533 billion pounds of copper
Inferred Resources 157.7 million tonnes grading 0.41% copper containing 1.434 billion pounds of copper
Cañariaco Norte 0.30% Cutoff
Copper (B lbs)
Gold (M Ozs)
Silver (M Ozs)
Cañariaco Norte Mineral Resource Estimate at the Base Case 0.30% Copper Cut-off Grade (refer to DNT NR 010 for details)
Pre-Feasibility Study Progress Report - Completed March 2011
NPV of US $922M and IRR of 17.3%(using US$2.25 copper and an 8% discount rate)
Payback of preproduction capital in 4.4 years (after-tax)
Copper Production of 262,000,000 pounds per year
Initial Mine life of 22 years+
Throughput rate of 95,000 tonnes per day
Operating costs of US$0.988 per pound of copper (including onsite/offsite costs, taxes and byproduct credits)
Minimal infrastructure required, excellent locations for all site facilities, close to existing highway (42km away) and power grid (57km away) & abundant water at site
Very strong community & regional support
Cañariaco Sur - A New Cu Au Porphyry System!
Exploration drilling at Cañariaco Sur has confirmed the presence of a large copper-gold-silver porphyry system with long intercepts of economic type grades within open pittable depths.
The mineralization is open in three directions and at depth. Thirteen wide spaced holes(200-300 metres) have Cu/Au/Ag mineralization from surface to 500 meters depth.
These holes, along with five holes from previous drilling confirm the presence of a large system. Interestingly, based on the drilling completed to date at Sur, there is extremely low arsenic in the system.
Due to the close proximity of Sur to Cañariaco Norte(less than 2 kms) and the possibility to share use of facilities planned for Cañariaco Norte, management is confident that Sur has excellent potential to become a mineable deposit, thereby increasing the potential size and scope of the overall project.
Located 3.5km south of the Cañariaco Norte deposit and immediately south-southwest of Cañariaco Sur, Quebrada Verde is the third porphyry target with excellent copper-gold soil geochemistry and strong coincident geophysical anomalies, such as large IP chargeability high centered on a resistivity anomaly over area of 0.8km by 2.0km.
*Copper equivalent grade including gold and silver values and based on 100% metal recoveries. Copper grade equivalent calculation. Cu Eq% =(Cu % + ((Au grade x Au price)+(Ag grade x Ag price))/(22.0462 x Cu price x 31.0135 g/t)
**Copper equivalent grade including gold and silver, metal recoveries (gold 55%; silver 50%) and smelter returns (copper 96.5%: gold 93%; silver 90%) applied. Copper grade equivalent calculation: Cu Eq% =(Cu % + ((Au grade x Au price x Au recovery x Au smelter return%)+(Ag grade x Ag price x Ag recovery x Ag smelter return%))/(22.0462 x Cu price x 31.0135 g/t x Cu recovery x Cu smelter return%)
By providing your e-mail address, you are consenting to receive press releases, quarterly and annual reports, presentations and other information concerning Candente Copper Corp. and its affiliates and partners.