Candente Copper Corp.: Status Update Canariaco Norte Copper Project
June 29 2011 - 1:20PM
Marketwired
Candente Copper Corp. (TSX: DNT)(PINK SHEETS: CDOUF)(BVLAC: DNT)
("Candente Copper") is pleased to provide an update on the status
of the 100% owned Canariaco Norte Copper Project in Northern Peru.
The Feasibility Study work program is well underway under the
direction of AMEC Americas Limited ("AMEC"). A comprehensive
application for the permit to conduct both geotechnical drilling
for the Canariaco Norte deposit and exploration drilling on the
high priority Canariaco Sur and Quebrada Verde porphyry targets has
been completed and was recently submitted to the Peruvian Ministry
of Energy and Mines for review and approval.
The following key activities are in progress:
-- The Environmental and Social Impact Assessment, under the direction of
AMEC (Peru) S.A. ("AMEC Peru") continues with fieldwork and office based
data assessment. AMEC Peru personnel recently completed wet season
baseline data collection in the field and are now planning for the
upcoming dry season field work.
-- Metallurgical test work is continuing under the direction of G&T
Metallurgical Services Ltd. ("G&T") in Kamloops, B.C. G&T are recognized
worldwide for their expertise in the metallurgy and mineralogy of copper
porphyry deposits. The test work program is now focussed on "variability
flotation test work" to confirm the metallurgical recoveries to be
expected throughout the various zones of the Canariaco Norte deposit. In
addition, metallurgical test work is planned to take place at Outotec
(Sweden) AB ("Outotec") to provide design parameters for the concentrate
roasting process. Outotec is a global leader in the design and supply of
process equipment for the mining industry.
-- Geotechnical design of the project has been awarded to Knight Piesold
Ltd. of Vancouver. Knight Piesold is a highly respected specialist
geotechnical consulting firm, and their expertise will complement AMEC's
highly experienced Feasibility Team. Geotechnical drilling is required
to obtain rock quality data for the design of the open pit walls and
ground condition data for the design of the project facilities.
-- An aerial survey by McElhanney Consulting Services Ltd. of Vancouver is
underway to collect topographical data for the project area including
the mine, plant-site and ancillary facilities areas, the proposed access
road route, and the proposed power line route. Aerial data will be used
to develop detailed topographic contour maps over the entire project
footprint, and is a requirement for both the Feasibility Study design
and the detailed design for construction.
-- A trade-off study to assess the optimal mining and processing rate for
the Canariaco Norte project is also underway. The Pre-Feasibility Study
Progress Report released in March 2011 called for a processing rate of
95,000 tpd, however management believes the size of the Canariaco Norte
deposit may justify and be benefited by a higher production rate.
Management is confident that fundamentals remain strong for
worldwide copper demand and that Peru, which has tripled copper
production in the past two decades, will continue to recognize the
importance of mining to their economy.
About Candente Copper
Candente Copper Corp. is a TSX and BVL listed mining company
focused on exploration and development of base metal mining
projects in Peru and Latin America. Candente Copper's flagship
project is the 100% owned Canariaco Norte copper project located in
Northern Peru's prolific mining district.
Mr. Sean Waller, P.Eng., President of Candente Copper is a
Qualified Persons as defined by National Instrument 43-101, has
reviewed and approved the contents of this release, and is
responsible for the information contained in this release.
This news release may contain forward-looking statements
including but not limited to comments regarding the timing and
content of upcoming work programs, geotechnical assumptions,
geological interpretations, receipt of property titles or permits,
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 relies upon litigation protection for forward-looking
statements.
On behalf of the Board of Candente Copper Corp.
Sean Waller, P.Eng., President & Director
NR-025
Contacts: Candente Copper Corp. John Foulkes, VP Corporate
Development mobile: +1 (604) 614-2999 or local: + 1 (604) 689-1957
ext 2 or toll free: 1 (877) 689-1964 ext 2 info@candentecopper.com
Candente Copper Corp. Walter Spagnuolo Manager, Investor Relations
mobile: +1 (604) 306-8477 or local: + 1 (604) 689-1957 ext 3
Candente Copper Corp. Nataly Reategui Investor Relations, Peru
(511) 715-2001 ext 107 nreategui@candente.com www.candente.com
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