Vancouver —
The Joanne Freeze-led junior picked up the additional stake by issuing 500,000 shares to
Lunahuana, situated southeast of Lima, is considered prospective for iron-oxide-copper-gold mineralization similar to the Olympic Dam deposit in Australia. Previous explorers spent US$500,000 on stream-sediment sampling, prospecting, geological mapping, chip and soil sampling, and geophysical surveys. Anomalous copper and gold values were found in stream sediments over an area measuring 7 by 2 km. So far, Candente has defined three drill targets on the property.
Meanwhile, in northern Peru, exploration work at the El Tigre property has identified three distinct zones of gold mineralization over an area measuring 2 by 1 km. The gold occurs in quartz veins and veinlets crosscutting a stratiform sequence of volcanic and sedimentary rocks. A large granodioritic intrusive complex has intruded the sequence.
The Las Sorpresas property, which borders the southern edge of
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