Exploration will focus on confirming and expanding previously discovered copper (“Cu”) and molybdenum (”Mo”) mineralization in bedrock as well as geochemical and geophysical anomalies all of which are typical of porphyry style mineralization.
Chalcopyrite (copper sulphide) and molybdenite (molybdenum sulphide) with grades of up to 1.56% Cu; up to 0.1% Mo and up to 17.6 grams per tonne (“g/t”) silver (“Ag”) have been found within quartz veining and stockwork zones in altered intrusive rocks including quartz monzonite. This mineralization occurs in two areas covering 800 metres (“m”) by 300m and 400m by 400m, respectively and much of the area between is hidden by glacial till or other cover.
Current exploration will include stream sediment sampling, soil sampling, prospecting and geological mapping to expand the known anomalies and mineralization.
Large granodiorite to quartz monzonite plutons are affiliated with the Quesnel Terrane of B.C. Overall, quartz-monzonite plutons form the largest world class deposits of Cu-Mo-Au and Cu-Mo. Examples are Edernet with 1.78 billion tonnes of 0.62% Cu and 0.025% Mo, Chuquicamata, 6.45 billion tonnes of 0.55% Cu and
B.C. hosts 13 districts of copper-rich deposits in the production and development stage within two major zones (
For further details about the
About
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
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.
On behalf of the Board of
“Joanne C. Freeze”
President, CEO and Director
___________________________________
For further information please contact:
info@candentecopper.com
www.candentecopper.com
NR-138
Source:
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