Ausenco Completes Desk Top Conceptual Study on Cañariaco Norte
June 15 2021 - 7:00AM
Candente Copper Corp. (TSX:DNT, BVL:DNT) ("Candente Copper”,
“Company”) is pleased to announce that the Desk Top Conceptual
Study (“Study”) on the Cañariaco Norte Project has been completed
by Ausenco Engineering Inc. (“Ausenco”). Ausenco’s work
has identified several opportunities with the potential to lower
initial capital expenditures (“CapEx”) and operating expenses
(“OpEx”) while also enhancing our environmental, social and
governance (“ESG”) practices.
Summary of Significant Developments:
- Mitigation of the need for a
roaster, both for a smaller and a larger project, which could
significantly reduce both CapEx and OpEx costs and improve ESG
practices;
- The potential viability of the
project at various concentrator throughputs including 40,000;
50,000; and 60,000 tonnes per day (“tpd”);
- Evaluation of a staged expansion
with a smaller throughput for a lower initial CapEx, then expanding
after payback using mine cash flow indicates this could be an
attractive development strategy;
- The application of the best
available technology (“BAT”) for tailings that considers both wet
and dry stack tailings storage methodologies which could improve
ESG practices and appears viable. This should be assessed in more
detail.
“The potential mitigation of a roaster is a game
changer, offering an opportunity to significantly reduce both CapEx
and OpEx and enabling an operation less complicated both for
permitting and day-to-day operations. This opportunity was
identified as a result of new geometallurgical modelling of the
deposit and updated smelting costs,” stated Joanne Freeze,
President and CEO. “Now we can focus on parameters to be included
in an updated Preliminary Economic Assessment (“PEA”) to evaluate
the most attractive potential development strategy.”
Signficant historical engineering work has been
completed for the Cañariaco Norte Project, which has provided much
of the basis for the conceptual desktop study; however, the new
development concepts will require additional technical and economic
assessment and development in an updated PEA.
For more details about the Desk Top Study,
please see News Release No. 129 (dated April 19th,
2021): https://www.candentecopper.com/news-releases/news-releases/2021/ausenco-update-for-conceptual-desk-top-study-on-canariaco-norte-1/
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 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, the
Cañariaco Norte Copper Project Pre-Feasibility Study Progress
Report and the NI 43-101 Technical Report both of which are
available at
https://www.candentecopper.com/site/assets/files/5389/canariaco-pfs.pdf
and
https://www.candentecopper.com/site/assets/files/5390/ni43-101_canariaco.pdf
(* published January and March 2011) 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.
The Technical Reports, referred to above, are
based on a throughput rate of 95,000 tpd producing 260M lb Cu/year
which resulted in post-tax NPVs and IRRs of $1.985B and 24.8% at
$3.25/lb Cu; and $2.865B and 31.2% at $4.00/lb Cu. The Incentive
Price ($2.50/lb Cu) 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.
For detailed information about assay methods and
data verification measures used to support the scientific and
technical information, and for details on the key parameters and
assumptions relating to the Mineral Resource estimates, please
refer to the Company’s technical report filed on SEDAR under the
Company’s profile, and also available on the Company’s
website.Joanne C. Freeze, P.Geo., CEO, Candente Copper, and Jay
Melnyk, P.Eng., AGP Mining Consultants Inc., are the Qualified
Person as defined by National Instrument 43-101 for the projects
discussed above and they have 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-132
Candente Copper (TSX:DNT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Candente Copper (TSX:DNT)
Historical Stock Chart
From Jul 2023 to Jul 2024