Dec 8 2010
Candente Copper Corp. (TSX:DNT)(BVLAC:DNT)(WKN:GW4) has reported that highly anomalous copper, gold and molybdenum geochemical results have been returned from strongly altered and leached rock samples collected on their 100% owned Arikepay porphyry property in southern Peru.
Permitting for drilling at Arikepay is under application while detailed mapping and additional sampling is underway.
Anomalous values ranging from 100 to 1,460 ppm copper, 50 ppb to 2,560 ppb (2.5 g/t) gold, and 0.5 ppm to 143 ppm molybdenum have been found to occur in altered and leached volcanic and intrusive rocks from the project.
"The anomalous copper values returned from the leached capping at Arikepay are typical of the upper levels of porphyry copper deposits in other parts of the Andes such as Peru, Chile and Argentina," commented Michael Thicke, P.Geo., VP Exploration of Candente Copper. "The addition of gold, and the apparent zoning of the system with an anomalous molybdenum core flanked by stronger copper and gold values, further add to Arikepay's exploration potential."
Mr. Thicke joined Candente Copper as VP Exploration in July, 2010. He is a recognized expert on porphyry copper systems and has over 30 years of global exploration experience, most recently as a senior member of BHP Billiton's Global Porphyry Exploration group.
The anomalous gold and copper values found at Arikepay are associated with jarosite-goetite stockwork, veins, and disseminations occurring within argillic-phyllic altered rocks. Anomalous molybdenum values are associated with pervasive hematite in zones of silicification, with quartz stockwork zones occurring locally within altered areas. Propylitic alteration occurs south and southwest of the phyllic and silicic alteration, and is characterized by epidote-chlorite-magnetite in stockwork, veins, and matrix-fill in andesitic volcanic rocks.
The phyllic and silicic alteration, which is poorly exposed, covers an area approximately 700 metres north-south by 900 metres east-west, and remains open to the northwest for over 2,000 additional metres and to the northeast for approximately 500 metres under recent sand and gravel cover.
The Arikepay property covers two claim blocks totalling 1,800 and 2,200 hectares each, and is road accessible 109 kilometres from the city of Arequipa. The property is located 45 kilometres south of Freeport-McMoRan's Cerro Verde copper-molybdenum mine.
Prior to Candente's ownership of Arikepay, a major mining company drilled four closely spaced reverse circulation drill holes on the property. There is no geological or assay data available to Candente for this drilling but it is understood to have been carried out in the 1990's. Candente's exploration team believes that the property remains highly under-explored, as the previous drilling only tested a very small area. The copper and gold anomalies reported herein by Candente Copper remain untested by drilling.
Initial sampling by Candente Copper at Arikepay was carried out during a preliminary evaluation program of eight Peruvian porphyry copper properties held by Candente Copper, lead by Mr. Thicke and Senior Geologist Ing. Enrique Bernuy. Drill targets are also being developed on the other seven properties and will be discussed in future new releases.