Christine Nicolau Appointed as Director Representing Fortescue Metals Group
May 19 2021 - 10:08AM
Candente Copper Corp. (TSX:DNT, BVL:DNT) ("Candente Copper”,
“Company”) is pleased to announce that Ms. Christine Nicolau has
been appointed to the board of directors of Candente Copper,
representing Fortescue Metals Group Ltd (“Fortescue”) who has an
18.9% shareholding in the Company. Ms. Nicolau replaces Fortescue’s
current board representative, Mr. Agustin Pichot, who
has stepped down from the board due to other commitments.
Ms. Nicolau is the General Manager of Metals,
Latin America, for Fortescue. Ms. Nicolau is responsible for
Fortescue’s South American minerals business including exploration,
project development and other growth activities. She is also
responsible for the identification of metals growth opportunities
across the South America region.
Ms. Nicolau has been with Fortescue for over 10
years. During this time, Ms. Nicolau has held a range of management
positions across Australia and South America including, Manager
Corporate Development of Fortescue from September 2015 to
2018. Ms. Nicolau is based in Buenos Aires, Argentina.
The Company would also like to advise that the
Desk Top Conceptual Study (“Study”) underway by Ausenco is nearing
completion and expected to be completed within 10 days. “We are
very excited to know all the opportunities Cañariaco has both to be
built as a smaller project for a lower initial capital expenditure
(“CapEx”) and also other aspects which could benefit a larger
project,” stated Joanne Freeze, President and CEO.
For more details about the Study, please see
News Releases No. 127 and 129:
https://www.candentecopper.com/news-releases/news-releases/2021/
Ausenco has a 30-year track record and is
recognised as specialists in end-to-end solutions which are proven
to lower capital and operating costs, reduce construction time and
improve plant efficiencies. They perform consulting studies,
project delivery, and asset operations to the international mining
sector including high performance copper processing and
infrastructure projects. Project experience ranges from small
conceptual studies for new developments through to the construction
of large scale minerals processing facilities.
About Candente CopperCandente
Copper is a mineral exploration company engaged in the acquisition,
exploration, and development of mineral properties. The Company is
currently focused on its 100% owned Cañariaco project, which
includes the Feasibility stage Cañariaco Norte deposit as well as
the Cañariaco Sur deposit and Quebrada Verde prospect, located
within the western Cordillera of the Peruvian Andes in the
Department of Lambayeque in Northern Peru.
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 $1.06B and 17.5% at $2.50 Cu and $1.56B
and 21.5% at $2.90 Cu. The Incentive Price for Cañariaco Norte is
in the lowest quartile of top 84 copper projects worldwide named by
Goldman Sachs. Cash Costs are also in lowest quartile of the copper
industry.
Joanne C. Freeze, P.Geo., CEO, is the Qualified
Person as defined by National Instrument 43-101 for the projects
discussed above. She has reviewed and approved the contents of this
release.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.
On behalf of the Board of Candente
Copper Corp.
“Joanne C. Freeze” P.Geo.President, CEO and
Director___________________________________For further information
please contact:
info@candentecopper.comwww.candentecopper.com
NR-130
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