VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/03/13 -- Candente Copper Corp. (TSX: DNT)(PINKSHEETS: CCOXF)(LMA: DNT) ("Candente Copper" or "the Company") is pleased to advise that exploration and feasibility drilling has recommenced on the Canariaco property.
Two drills are now working on the property. The first hole was collared on December 21, 2012 on Canariaco Norte and is a metallurgical hole. The second drill was collared several days later at Canariaco Sur and is an exploration hole.
The Company received the water permit from the Authority Nacional de Agua ("ANA") on December 07, 2012 which allows the Company to use site water for the drilling activities and was the last permit required for drilling to commence at Canariaco. In accordance with best environmental practices, water used for drilling will be collected in ponds and recycled as much as possible. Upon completion of drilling, water used will be treated and kept in the ponds where it will undergo a natural evaporation process. Muds (additives) used for drilling will be contained and transported off site for disposal in an approved disposal facility.
Approximately 11,000 metres of feasibility drilling are planned for Canariaco Norte and approximately 2,500 metres of exploration drilling are planned for Canariaco Sur. Approximately 140 local employees are currently engaged in support of the drilling and other project site activities.
The National Dialogue and Sustainability Office of the Presidency of the Council of Ministers ("PCM") is continuing to establish a constructive "Dialogue for Development" with the participation of the different regional and national sectors related to the Canariaco Project. In this manner proposals, concerns and development of the area which the community or others may have will be openly discussed, and that the Company's project activities, impacts and intentions are accurately and factually presented.
Candente Copper, which has been clear with policies of social and environmental responsibilities, abides by and forms part of the proposal made by the Central Government, in respect for the laws and practices mentioned above.
This dialogue is intended to build on the agreement of July 8, 2012 whereby the Community of San Juan de Kanaris granted the Company surface access for exploration for a three year period. The General Assembly of July 8, 2012 was attended by approximately 1,000 people and the resulting Act (Acta) was signed by over 700 community members.
The Ministry of Energy and Mines ("MINEM") reviewed all legal documentation and confirmed that the result of this General Assembly is the only legally valid Community meeting regarding surface access.
As part of the three year access agreement of July 8, 2012, Candente Copper committed 1.5 million Peruvian soles (approximately US$585,000) to the community of San Juan de Kanaris. This fund will be managed by committees comprised of community representatives and members of Candente Copper's Peru based management team. Disbursements approved by the committees will be made for projects, partnerships and causes demonstrated to promote healthy and sustainable communities.
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