VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/23/13 -- Candente Copper Corp. (TSX: DNT)(PINKSHEETS: CCOXF)(LMA: DNT) ("Candente Copper" or "the Company") is pleased to report on progress of exploration and feasibility drilling on the Canariaco property.
One drill is working on Canariaco Norte focusing on metallurgical and geotechnical work. Three metallurgical holes have now been completed to depths of 201, 303 and 253 metres, respectively, and a fourth metallurgical hole is in progress. A second drill is working on exploration targets at Canariaco Sur and the first hole (CS-12-003) has been completed to a depth of 528 metres. Drilling has commenced on the second hole (CS-13-004).
Drill hole CS-12-003 was targeted to test a strong induced polarization ("IP") chargeability anomaly from a previous partially complete geophysical survey, thought to represent the pyrite halo of a porphyry deposit. A second IP survey was recently completed which expanded on the previous survey to cover the entire Canariaco Sur prospect area. Interpretation of the new and expanded IP survey and observations made from hole CS-12-003 indicates the pyrite halo is situated a further 300 metres to 400 metres to the west. Moderate to strong potassic and phyllic alteration has mostly obliterated volcanic and various porphyritic intrusive rock textures. Locally strong quartz-sulphide stockwork veining is also associated with potassic and phyllic alteration. Samples for drill hole CS-12-003 have been sent to ALS Chemex labs in Lima, Peru for ICP and assay analyses which will be reported once received.
Approximately 11,000 metres of feasibility drilling are planned for Canariaco Norte and approximately 4,000 metres of exploration drilling are planned for Canariaco Sur. Local employment to support the drilling and other project site activities is carried out on a rotational basis and over 260 villagers have now qualified for the 130 daily positions.
Working Table for Development for the District of Kanaris
The Company is also very pleased to report that a Working Table for Development for the District of Kanaris was installed by The National Dialogue Office of the Presidency of the Council of Ministers ("PCM") and the Ministry of Energy and Mines ("MINEM") in Chicalyo on Saturday January 19, 2013. The installation was conducted in a private meeting involving representatives of the Regional Government of Lambayeque, Representatives of the communities of Kanaris and Tupac Amaru, the Municipality of Ferrenafe and Kanaris, the National Water Authority, Ministry of Agriculture, Ministry of Development and Social Inclusion, as well as several institutions and professional associations. Following the meeting, the agreements that have been reached to ensure the development of this district, which is the poorest and least developed region of Lambayeque, will be announced.
During the meeting, it was highlighted that one of the goals of the development board is to foster dialogue, and seek understanding between the Company and the District of Kanaris with respect to the Canariaco mining project. Both the Company and members from the Community have demonstrated that they support this. This is considered a great opportunity to raise not only the understanding of the mining project but also the opportunities for development of the district and the country.
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