Company News: Candente Copper
Updated: 10 Nov 2010
Candente Resource Corp. commenced exploration activities in Peru in 1997 and went public in May of 2000. During the 10 years of activities in Peru, several gold, silver and copper projects were acquired.
On the Canariaco Norte property, a large porphyry copper deposit was discovered and advanced to the feasibility stage. The deposit has a Measured and Indicated Resource of 622 million tonnes of 0.47% copper, 0.07g/t gold and 1.83g/t silver (0.53% Cu equivalent, containing 6.47 billion lbs Cu, 1.43 million oz Au and 36.5 million oz Ag). In the Inferred category, there is an additional 128 million tonnes of 0.43% copper, 0.06g/t gold and 1.64g/t silver (0.48% Cu equivalent, containing 1.21 billion lbs Cu, 0.25 million oz Au and 6.77 million oz Ag). A second Copper-Gold Porphyry (Canariaco Sur) has been discovered 1.3km away with significant upside exploration potential.
In 2006, the El Oro gold-silver property, in Mexico was optioned from Goldcorp ("Luisimin"). At El Oro 2 of the 20 known veins produced 6.4 million oz Au and 74 million oz Ag historically, from the uppermost 150 to 250 metres. The El Oro veins are believed to be similar to those in other mines in Mexico, such as: Pinos Altos, Fresnillo and Guanajuato, where gold and silver occurs over 600 to 1200 metres vertically.
Through a Plan of Arrangement completed on December 21st 2009, the Company separated its' copper assets from gold and silver assets, by forming a second company Candente Gold Corp. ("CDG"). Reference should be made to the Company's information circular dated June 5, 2009.
The two companies started trading individually (on an "ex distribution" basis) on the TSX on January 4th 2010 and Candente Resource Corp. ("DNT") changed its name to Candente Copper Corp. On Dec 30. 2009, CDG completed a financing of $9M.
On the Canariaco Norte property, a large porphyry copper deposit was discovered and advanced to the feasibility stage. The deposit has a Measured and Indicated Resource of 622 million tonnes of 0.47% copper, 0.07g/t gold and 1.83g/t silver (0.53% Cu equivalent, containing 6.47 billion lbs Cu, 1.43 million oz Au and 36.5 million oz Ag). In the Inferred category, there is an additional 128 million tonnes of 0.43% copper, 0.06g/t gold and 1.64g/t silver (0.48% Cu equivalent, containing 1.21 billion lbs Cu, 0.25 million oz Au and 6.77 million oz Ag). A second Copper-Gold Porphyry (Canariaco Sur) has been discovered 1.3km away with significant upside exploration potential.
In 2006, the El Oro gold-silver property, in Mexico was optioned from Goldcorp ("Luisimin"). At El Oro 2 of the 20 known veins produced 6.4 million oz Au and 74 million oz Ag historically, from the uppermost 150 to 250 metres. The El Oro veins are believed to be similar to those in other mines in Mexico, such as: Pinos Altos, Fresnillo and Guanajuato, where gold and silver occurs over 600 to 1200 metres vertically.
Through a Plan of Arrangement completed on December 21st 2009, the Company separated its' copper assets from gold and silver assets, by forming a second company Candente Gold Corp. ("CDG"). Reference should be made to the Company's information circular dated June 5, 2009.
The two companies started trading individually (on an "ex distribution" basis) on the TSX on January 4th 2010 and Candente Resource Corp. ("DNT") changed its name to Candente Copper Corp. On Dec 30. 2009, CDG completed a financing of $9M.
Also Known as: Candente Copper
Business Category Exploration; Mining
Regions of Operation Latin America
Exchange Ticker DNT
Financial Information
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Exchanges listed on TSX
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Commerce Place
- Suite 1650-400 Burrard Street
- Vancouver
- B.C.
- V6C 3A6
- Canada
Most Recent Company News
- Peru: holds steady - 15 Apr 2011 11:42am
The South American country retains is position as a major mining destination Read more... - Cañariaco prefeasibility progress convinces Candente - 21 Jan 2011 11:43am
Progress from an independent prefeasibility study for development of Candente Copper Corp’s Cañariaco Norte copper-gold project in Peru has satisfied the company that a feasibility study is justified Read more... - Cañariaco Norte review raises resources - 05 Nov 2010 11:50am
During preparation of the prefeasibility study for development of Candente Copper Corp’s Cañariaco Norte porphyry copper-gold-silver project in Peru, consultant AMEC has increased the resource estimate Read more...
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