Vancouver - Candente Copper Corp. (TSX: DNT, BVL: DNT) ('Candente Copper' or 'Company') is very pleased to announce that an Initial Inferred Mineral Resource has been estimated for the portion of the Canariaco Sur deposit drilled to date.
Additionally the mineral resource for Canariaco Norte has been updated for purposes of the 2022 Preliminary Economic Assessment ('PEA') which is nearing completion.
Commenting on the results, President and CEO Joanne C. Freeze stated, 'We are very pleased to be able to establish this initial Inferred Resource containing 2.2 billion pounds of copper and 1.2 million ounces of gold in Canariaco Sur. This deposit contains higher levels of gold and molybdenum than Canariaco Norte, minimal arsenic levels and mineralization that starts at surface. Canariaco Sur has the potential to add significant value to the resources at Canariaco Norte, 2km to the northeast. The Initial Canariaco Sur estimate is based on 15 drill holes on the eastern portion of a large geochemical anomaly which extends several hundred metres to the west and southwest. Higher grade phyllic style copper-gold mineralization was intersected in the western-most hole drilled to date. Future drilling is planned for the west and southwestern sides as well as the undrilled Quebrada Verde porphyry target 1.5km southwest of Canariaco Sur.'
Ms. Freeze further stated 'We are very excited to be nearing completion of the 2022 PEA on Canariaco Norte with project optimizations including a smaller higher-grade starter project, a lower initial capex and opportunities to enhance ESG aspects.'
About Candente Copper
The Company's flagship project is Canariaco Norte, which is the 10th largest late-stage copper resource in the world and 6th highest in grade (RFC Ambrian, December 2021 and Haywood, December 2021). The Canariaco Project, which includes the Canariaco Norte resource as well as the Canariaco Sur resource and Quebrada Verde prospect, is located in northern Peru's prolific mining district.
The Company is very pleased to now have Canariaco Norte included in 4 research reports that compare various global copper projects.
RFC Ambrian: Canariaco Norte in top 10 of 23 projects with potential to involve third party M&A (December 2021); Haywood: Canariaco Norte is one of 18 assets selected as likely to be considered by majors looking to acquire (December 2021); Deutsche Bank: Canariaco Norte identified as one of 3 projects required to meet the upcoming copper supply-demand gap (February 2021); Goldman Sachs: Canariaco Norte identified with incentive copper price in the lowest quartile of the top 84 copper projects worldwide (October 2018).
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.
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.
Contact:
Jonathan Paterson
Tel: +1 475 455 9401
Email: Jonathan.Paterson@HarborAccessllc.com
Web: www.candentecopper.com
ALTA COPPER CORP. 