Candente Discovers a Second Copper-Gold Porphyry

VANCOUVER, BC - Candente Resource Corp. reported that drilling has identified a second copper-gold porphyry located 1.3 km south of Canariaco Norte deposit. The first hole (CS08-001) in the Canariaco Sur porphyry intersected average grades of 0.35% copper, 0.15 grams per tonne gold and 1.43 grams per tonne silver (0.43% copper equivalent) from 180 to 535 metres. Within this 354 metre interval, drilling intersected 0.41% copper, 0.17 grams per tonne gold and 1.59 grams per tonne silver (0.50% copper equivalent) from 300 to 400 metres. Individual two metre sample intervals assayed as high as 0.78% copper, 0.36 grams per tonne gold and 4.2 grams per tonne silver demonstrating that the gold:copper ratio in Canariaco Sur may be higher in this deposit than in Canariaco Norte.
A second hole (CS08-002), collared 320 m north of hole CS08-001, was completed over a length of 506 metres - assays are pending and expected within a month. Both holes intersected mineralized porphyry rocks similar to those hosting the Canariaco Norte deposit. These two holes confirm the presence of very significant mineralization within a large (2.3 kilometres) porphyry system at Canariaco Sur.
Other exploration work indicates that Canariaco Norte, Canariaco Sur and a third target, Quebrada Verde, are part of an extensive porphyry complex covering a minimum length of five kilometres and an average width of two kilometres. "The existence of one or more additional porphyry deposits in such close proximity to Canariaco Norte could add significantly to the economics of the project through shared infrastructure and facilities," commented Joanne Freeze, President and CEO.
The porphyry complex is covered entirely by the Canariaco property, which is held 100% by Candente. Geological mapping, geophysics and geochemical sampling by Candente, and by Billiton (including limited drilling) in 1999, indicate the potential for additional porphyry copper-gold mineralization within the complex.
The company's address is Suite 200, 905 West Pender Street, Vancouver, BC V6C 1L6, (604) 689-1957, fax: (604) 685-1946, email: [email protected], www.candente.com.