Candorado keeping itself busy in B.C.

Candorado Operating (CDO-V) continues on its shopping spree in B.C. as it is now buying eight additional properties within the Quesnel Trough copper and gold porphyry belt in the central part of the province.

It has been a busy new year for the Kelowna, B.C.-based company. In early January it acquired an 80% interest in the Man/Prime property also in central B.C., then it made a private placement, and that was followed up by a signing on with a new investor relations firm.

After that the company settled a long standing dispute with an individual over its Aurora Extension property in the Porcupine mining division in Ontario, and then it promptly acquired two more properties — the King and Summer properties also in Central B.C.

The latest acquisition will see Candorado fork over $52,500 in cash for the Dry Lake claim group, with the properties being subject to a 2% net smelter return (NSR) which can be purchased for $1 million.

In Toronto on Feb. 6, the company saw its shares climb nearly 7% or 3 to 40 on just over 200,000 shares traded. Its shares have gained 60% since Jan.1.

The most recently acquired properties are located just west of Weststar Resources‘ (WRC-V) Axe property near Princeton B.C. Recent drilling at Axe returned copper and gold mineralization associated with a porphyry system.

Candorado says Dry Lake is known to host several string copper in soil anomalies and copper showings that are associated with the same package of intrusive and volcanic rocks that hosts the AXE property.

Candorado also said it acquired a 100% interest in two claim blocks in central part of the Quesnel Trough through staking. The blocks are currently known as “K” and “CR” and each covers roughly 247 sq. km of land.

The “K” property is situated directly to the north of Kamloops Lake and the “CR” property adjoins Amarc‘s (AHR-V) property, southeast of Bonaparte Lake.

Upon completion of the deal Candorado will have 4,000 sq. km of mineral exploration properties in Central B.C., and is planning what it describes as a large scale ground and airborne geophysical program for this year and next so that it can find targets for future drilling

The company also reported that while drill permits for the company’s Rayfield and Murphy Lake properties are in the final stage of approval, heavy snowfall may delay the start of drilling into late March, the company says.