Candente hits strong wide open zone of copper mineralization

Vancouver The first two holes of Candente Resource Corp.’s (DNT-V) twelve hole drill program have intersected what appears to be a major porphyry copper zone on its wholly-owned Canariaco project in northern Peru.

The core drilling program is being done systematically with twelve holes at 100 metre centres, that totaled some 2,500 metres.

Both holes 04-001 and 04-002, were drilled vertically to a depth of 300 and 248 metres respectively, ending in mineralization. Hole 04-001 intersected 0.71% copper over 234 metres from a downhole depth of 66 metres which includes a 96 metre interval of 1.00% copper from the top of the interval. The second hole hit 0.68% copper over 188 metres from a downhole depth of 60 metres including 42 metres of 0.80% copper.

The main copper minerals observed in the core are chalcocite, chalcopyrite, covellite and bornite. The mineralization and grades are believed to be porphyry-style.

Canariaco is situated in the Andes in the Caaris District, Province of Ferreafe, in northwestern Peru. The property is some 700 km northwest of Lima, and 110 km northeast of the city of Chiclayo.

The property comprises 5,500 hectares in six contiguous concessions held through Candente’s Peruvian subsidiary which acquired four of the concessions through public auction in February 2001.Since then, Candente has applied for two further concessions.

Copper mineralization was discovered at Canariaco by the British Geological Survey and its Peruvian counterpart after a stream-sediment sampling program in 1970 geared towards finding porphyry copper systems.

Three porphyry centres on the property include: Caariaco Norte, Caariaco Sur and Quebrada Verde. These zones have been mapped and sampled in detail by the various operators, including recent work by Candente.Placer Dome (PDG-T) optioned Caariaco and a nearby silver-gold prospect in 1994 and dropped its option in 1997 after doing exploration trenching and drilling as did Billiton, now part of BHP Billiton in 2000.