Community Sets Date for Assembly to Vote on Surface Access Proposal for Canariaco
23 June 2012 - 2:18AM
Marketwired
Candente Copper Corp. (TSX:DNT)(PINKSHEETS:CCOXF)(LMA:DNT)
("Candente Copper" or "the Company") is pleased to announce that a
General Assembly ("Asamblea General") has been called for July 8th,
2012 to provide the opportunity for registered voters of the
Community of San Juan de Kanaris to vote on Candente's proposal for
a three year surface access agreement for its Canariaco
project.
Candente recently announced that it had received a drilling
permit from the Ministry of Energy and Mines of Peru (Direccion
General de Asuntos Ambientales Mineros - DGAAM) (see Candente
Copper NR 034 dated May 31, 2012), however a surface access
agreement is to be made with the community before drilling can
start. The community meeting, known as a General Assembly, is the
legal process for rural communities in Peru to vote on issues of
importance to their communities.
Candente management has been anticipating this General Assembly
for some time, and is very pleased that the Community of San Juan
de Kanaris has now convoked the meeting. We believe our proposal
for surface access will be very attractive to the community and,
along with the sustainable development programs initiated by
Candente in the area, clearly demonstrates Candente's commitment to
the community.
The Company is also in the application process for a water
permit for drilling from the National Water Authority (Autoridad
Nacional del Agua - ANA).
About Candente Copper
Candente Copper's flagship project is the 100% owned, 7.5
billion pound, Feasibility stage Canariaco Norte Copper Project
located in northern Peru's prolific mining district. The Canariaco
Norte deposit contains a Measured and Indicated resource of 752.4
million tonnes grading 0.49% copper equivalent(i), and an Inferred
Resource of 157.7 million tonnes at 0.44% copper equivalent(i).
Sean Waller, P.Eng., President and Joanne C. Freeze, P.Geo.,
CEO, are the Qualified Persons as defined by National Instrument
43-101 for the projects discussed above. They have reviewed and
approved the contents of this release. (i)The 'Measured and
Indicated Resource' listed above consists of Measured Resources of
338.1Mt at 0.48% Cu, 0.08 g/t Au, and 2.0/t Ag (0.52% Cu Eq.), plus
Indicated Resources of 414.3Mt at 0.43% Cu, 0.06 g/t Au, and 1.8
g/t Ag (o.46% Cu Eq.). All resources quoted in this release are
based on a 0.30% copper cut-off grade and 229 drill holes completed
to March 2008. (i)Copper equivalent grade including gold and
silver, metal recoveries (gold 55%; silver 50%) and smelter returns
(copper 96.5%: gold 93%; silver 90%) applied. Copper grade
equivalent calculation: Cu Eq% =(Cu % + ((Au grade x Au price x Au
recovery x Au smelter return%)+(Ag grade x Ag price x Ag recovery x
Ag smelter return%))/(22.0462 x Cu price x 31.0135 g/t x Cu
recovery x Cu smelter return%). The metal prices used are: copper
US$2.50/lb, gold US$1,035/oz and silver US$17.25/oz.
This news release may contain forward-looking statements
including but not limited to comments regarding the 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 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.
On behalf of the Board of Candente Copper Corp.
Sean Waller, P.Eng., President & Director
NR-036
Contacts: John Foulkes VP Corporate Development local: + 1 (604)
689-1957 ext 2 toll free: 1 (877) 689-1964 ext 2 mobile: +1 (604)
614-2999info@candentecopper.com Walter Spagnuolo Manager, Investor
Relations mobile: +1 (604) 306-8477 local: + 1 (604) 689-1957 ext 3
www.candente.com
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