tsl444
17 años hace
Candente Resource Corp. Announces Private Placements
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 9, 2008) -
Candente Resource Corp. (TSX:DNT)(BVL:DNT)(WKN:GW4) ("Candente") is pleased to announce that it has appointed Raymond James Ltd. as lead for a syndicate of agents including Blackmont Capital Inc. and Wellington West Capital Markets Inc. (collectively the "Agents") to sell by way of private placement on a "best efforts" basis, common shares of Candente at an offering price of $1.60 per share.
Funds raised by the Agents will be part of a larger offering (the "Global Offering") by Candente of common shares, which will include a private placement through Credibolsa S.A.B. S.A. ("Credibolsa") of Peru as well as a non-brokered private placement. All of these placements will be completed at the same price.
The Global Offering will total approximately Cdn$10,000,000. Candente will pay the Agents and Credibolsa a fee of 6% in cash and issue broker warrants entitling each party to purchase that number of common shares equal to up to 6% of the number of shares sold by them.
The net proceeds of the Global Offering will be used for funding exploration and development activities on the Company's mineral properties and for general corporate purposes.
The Global Offering is anticipated to close on or about June 26, 2008 and remains subject to certain conditions, including satisfactory due diligence by the Agents and the receipt of all required regulatory and other acceptances, including the acceptance of the Toronto Stock Exchange (TSX).
About Candente Resource Corp.
Candente is a diversified exploration company with copper, gold, silver, and zinc projects in Peru and Mexico. The Canariaco Norte property, a copper deposit located in Northern Peru, is currently in advanced resource definition and Preliminary Economic Assessment stage. Candente's directors and management have a track record in the discovery and development of copper, gold and silver deposits and subscribe to principles which ensure that exploration and development activities are beneficial to the local communities.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Candente relies upon litigation protection for forward-looking statements.
tsl444
17 años hace
Candente Adds to Operational Team for Canariaco Coppper Project
April 30, 2008
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 30, 2008) - Candente Resource Corp. (TSX:DNT)(BVL:DNT)(WKN:GW4) ("Candente" or the "Company") is pleased to announce the appointment of Ing. Jaime Cortez, B.M.Eng., MBA as Manager Operations and William P. Armstrong, BA. Sc., MA. Sc., P.Eng. as Technical Advisor for the Canariaco copper project in Lambayeque department, Peru ("Canariaco").
Ing. Cortez has worked in the mining industry in both Peru and Australia since 1994 and most recently held the positions of Senior Improvement Analyst with Rio Tinto Coal Australia and Project Manager at Rio Tinto's La Granja Copper Project in Northern Peru. Jaime completed both a Bachelor of Mining Engineering from the Pontificia Universidad Catolica del Peru in 1994 and the degree of Master of Business Administration (MBA) at the Australian Graduate School of Management at Sydney, Australia in 2004. Jaime will report to Tom Rinaldi VP Operations. "Candente's entrepreneurial culture offers mining professionals the chance of exerting their creativity whilst complying with industry's best practices. It is an exciting time for the company and the people of the Lambayeque region as we get closer to the ramp-up stage of the Canariaco Project," Jaime Cortez commented.
Candente management is also very pleased to have William P. Armstrong, BA. Sc., MA. Sc., P.Eng., consulting to the Company as Technical Advisor. Bill retired from Teck Cominco Ltd. in 2006 where he was General Manager, Resource Evaluations since 1996. Bill has had extensive involvement in feasibility and startup of several mining operations including Valley Copper, B.C. and Quebrada Blanca, Chile.
Candente is focused on the advancement of the Canariaco copper project in Lambayeque department, Peru. A new resource calculation is underway by SRK Consulting (Canada) Inc. ("SRK") and expected to be complete 2Q 2008. This new resource will include a higher grade Starter zone for a quicker payback period. SRK and Samuel Engineering Inc. ("Samuel") are also preparing an updated Preliminary Assessment and Economic Evaluation with updated cash flow analyses. The updated cash flow analyses is expected to be completed in 3Q 2008 and will be based on the Measured, Indicated and Inferred resource estimated by SRK during 2Q 2008.
The Company, SRK and Samuel are evaluating various scalable development options to take advantage of the higher grade Starter zone. This may allow a quick pay back and lower capital requirements prior to ramping up production.
Other engineering studies to evaluate processing rates, processing design, infrastructure configurations and waste dump locations are advancing with Samuel, SRK and Tetra Tech Inc. under the guidance of VP Operations, Tom Rinaldi. The Canariaco feasibility has been expanded from the original design scope of the 104 million tonne Starter Pit contemplated in March 2007 to include the Measured and Indicated resource estimate underway by SRK. The feasibility study is expected to be completed for 1Q 2009.
Complete results, maps, cross-sections and all reports can be viewed at:
http://www.candente.com/s/PeruProjects_Canariaco.asp
NR 240
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Candente relies upon litigation protection for forward-looking statements.
Ed Monton
20 años hace
Candente completes phase 1 drilling at Alto Dorado
2004-08-19 19:24 ET - News Release
Ms. Joanne Freeze reports
CANDENTE COMPLETES PHASE ONE DRILLING PROGRAM ON ALTO DORADO, NORTHERN PERU
Candente Resource Corp. has completed its phase 1 drilling program on the wholly-owned Alto Dorado property located in northern Peru. A total of 1,050 metres have been drilled in nine holes. Eight holes were drilled in the Toril high-sulphidation gold zone and one in the Olla porphyry gold-copper zone. Depths of drill holes varied from 46 to 201 metres. All assays are expected to be received, compiled and reported within the next three weeks.
In the Toril zone, the drill holes intersected a volcanic sequence of pyroclastic breccias, lapilli breccia, crystal tuff and lahar rocks. Vuggy silica and quartz-alunite alteration, which are typical of the high-sulphidation environments, were found predominantly in the more porous units: the pyroclastic breccias and lapilli breccia. A diatreme-like structure crosscut by various hydrothermal breccias (feeders) and vuggy silica fragments was intersected near the centre of the Toril zone. It is believed to have acted as the conduit (control) for the alteration and gold mineralization, which is strongest closer to the structure. Some targets were not reached due to drilling difficulties caused by clays and broken rock, especially near the diatreme-like structure.
In the Olla zone, one hole was drilled to a depth of 190 metres. The entire hole intersected alteration and mineralization typical of gold-copper porphyry deposits, including: leached cap, propylitic, phyllic (quartz-sericite) and potassic (secondary biotite) zones, which contain quartz stockwork. Chalcopyrite and chalcocite (copper minerals) occur as disseminations (particles) and in quartz stockwork over most of the hole. Molybdenum was observed starting at 80 metres to the bottom of the hole, also as disseminations and in stockwork. Previous reverse circulation drilling by Hecla and Candente in this area (four holes to depths of 40 to 100 metres) intersected copper and gold grades varying from 0.1 to 0.65 gram per tonne gold and 0.1 to 0.37 per cent copper. Due to the nature of reverse circulation drilling, which only recovers small rock chips, and the shallow depths of the drill holes, all of the porphyry-style alteration zones were not previously recognized. Recent geological mapping has identified quartz stockwork, argillic and phyllic (typical porphyry-style) alteration in outcrop over an area that covers 1.8 by 0.8 kilometres. Within this alteration zone, chalcopyrite and pyrite mineralization has also recently been identified in petrographic studies from outcrop 1.2 kilometres north of the recent core drill hole.
Geophysical surveys (induced polarization) over the porphyry targets are in progress and to date have identified high chargeability signatures typical of porphyry style mineralization. Future drill targets are expected to be developed with this work.
The drill will now be moved to the Canariaco property and a second phase drilling program will be carried out at Alto Dorado following the Canariaco drilling program.
For more technical information on the Alto Dorado property please refer to http://www.candente.com/s/Projects_Peru.asp)?PropertyInfolD=655&View=1.
Candente also advises that the company has granted incentive stock options to new employees to purchase a total of 160,000 shares exercisable at a price of 70 cents per share for a period of five years.
WARNING: The company relies upon litigation protection for "forward-looking" statements.
Ed Monton
20 años hace
Candente begins Alto Dorado drilling; board appointee
2004-07-06 19:16 ET - News Release
Ms. Joanne Freeze reports
CANDENTE COMMENCES DRILLING PROGRAM ON ALTO DORADO, NORTHERN PERU
Candente Resource Corp. has commenced diamond (core) drilling on its wholly owned Alto Dorado property located in northern Peru. A total of 3,000 metres (m) (9,840 feet) of core drilling is currently planned for the Alto Dorado property and is expected to be carried out in two phases. The same drill will be used to carry out an additional 3,000 m of core drilling on Candente's wholly owned Canariaco copper project.
The first phase of drilling at Alto Dorado will be carried out on the Toril and Ana high-sulphidation gold zones and is expected to take approximately six weeks. Drilling is being conducted by Kluane Drilling of Vancouver, B.C., using a very portable rig which requires no road building and minimal site disturbance. Results will be announced when all phase one data have been received and compiled.
For more technical information on the Alto Dorado property please refer to: http://www.candente.com/s/Projects_Peru.asp?PropertyInfoID=655&View=1.
Candente is also pleased to announce the appointment of Michael Casselman, PGeo, to the board of directors. Mr. Casselman joined the company in February of 2004 as manager exploration and brings over 35 years of international mining exploration experience to the Candente team. Since joining Candente, he has been instrumental in leading exploration teams in both Peru and Newfoundland in the evaluation and advancement of Candente properties. His wealth of experience in evaluating projects and managing exploration teams especially in Latin America and in copper exploration has proven to be a great asset for Candente.
Mr. Casselman started working with Cominco Ltd. in 1969, upon graduation from the University of B.C. He obtained an MSc in Geology in 1977. Mr. Casselman was directly involved from feasibility to production with the Highland Valley copper mine in British Columbia, Canada's largest copper mine and one of the largest copper mining/concentration operations in the world. He was also in charge of exploration both at the mine and in the surrounding district in the 1980s. Mr. Casselman was involved with copper exploration in Latin America with Cominco when he relocated to Santiago, Chile, as manager exploration Chile in the mid-1990s and later as administration manager, international exploration, based in Vancouver. He was also instrumental in the discovery of several volcanogenic massive sulphide (gold-silver-copper-lead-zinc) deposits at Hackett River, NWT, in the 1970s and at Tulsequah Chief, B.C., in the late 1980s. Mr. Casselman retired from Cominco in 1999 after holding the position of exploration manager. Following retirement he has consulted for and served on the board of several junior mining companies.
Candente also announces that the company has granted incentive stock options to directors, employees and consultants to purchase a total of 111,000 shares exercisable at a price of 70 cents per share for a period of five years.
WARNING: The company relies upon litigation protection for "forward-looking" statements.
Frank Pembleton
21 años hace
Candente completes acquisition and schedules overburden drilling at Alto Dorado, Northern Peru
Monday August 25, 4:53 pm ET
DNT:TSX-VEN
VANCOUVER, Aug. 25 /PRNewswire-FirstCall/ - The Company (Candente) is pleased to report that Candente has completed the acquisition of 100% interest in the Alto Dorado Gold Property from Hecla Mining Company. A total of 100,000 shares have been paid to Hecla. Hecla retains a two and one-half percent (2.5%) Net Smelter Return (NSR), which can be reduced to 1.0% by paying to Hecla the sum of US$1,500,000.
AK Drilling International S.A. has been contracted to carry out a short hole overburden drilling program on the Toril Zone, one of three gold zones identified on the Alto Dorado Property. Approximately 25 to 30 short holes are planned to be drilled to an average depth of 15 metres using a reverse circulation drill. This shallow drilling is intended to penetrate overburden and sample the bedrock below. The drilling program is scheduled to commence in early September and expected to take three weeks to complete.
Overburden drilling will be carried out in areas where previous work, ie. trenches, pits, geochemical and geophysical surveys, indicate the potential for shallow mineralized zones. Gold mineralization found to date at Toril ranges in grade from 0.5 to 3.6 grams per tonne (gpt) in outcrop as well as in trenches and pits. The Toril Zone hosts high sulphidation style gold mineralization similar to that found in the major Peruvian gold mines, Yanacocha and Pierina, where average grades are from 1 to 3 gpt and cutoff grades are 0.4 gpt. Surface mapping and geophysical surveys indicate that the Toril Zone covers a minimum of 3 km by 1.8 km.
The Alto Dorado Property is located nearly half way between the Yanacocha and Pierina Mines and 36 km south-southeast of Barrick Gold's recent gold discovery Alto Chicama. Exploration will continue over the next several months to advance Alto Dorado to the bedrock drilling stage.
On another matter, management would like to invite you to come and meet Joanne C. Freeze, President & CEO and other Company personnel at the following conferences: the New York IIC Conference Sept 8th and 9th; the Cambridge Calgary Investment Conference October 4th and 5th; and the Chicago Natural Resource and Technology Exhibition and Conference, October 25th.
Candente is a mineral exploration company focused on the acquisition, exploration and development of world-class gold projects. Management has a track record of discovering world-class mines. For more information on our current exploration progress visit www.candente.com and/or contact us at (604) 689-1957, toll free 1-877-689-1964 or investor@candente.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Joanne C. Freeze"
Joanne C. Freeze, P.Geo., President & CEO
CANDENTE RESOURCE CORP.
Ed Monton
22 años hace
Anglogold to evaluate Candente's properties in Peru:Candente Resource Corp DNT
Shares issued 21,148,453 Feb 26 close $0.69
Wed 26 Feb 2003 News Release
Also (GIX)
Ms. Joanne Freeze of Candente reports
ANGLOGOLD TO EVALUATE CANDENTE GOLD PROPERTIES IN PERU
Candente Resource has signed a right-of-first-refusal (RFR) agreement with
Anglogold on 10 gold properties in Peru. One of the properties is held
jointly by Candente and Geologix Explorations.
Under the RFR, Anglogold has paid to Candente $10,000 (U.S.) and will
finance and carry out preliminary exploration programs on each of the 10
properties. Within a six-month period, if Candente intends to sell all or
any part of its interest in any of the properties, Anglogold has the right
to match any offer acceptable to Candente for 30 days after notice of such.
Anglogold will provide Candente with all information obtained from its work
on the properties. Candente's vice-president, exploration, Ing. Fredy
Huanqui, will make field visits with Anglogold's experts to ensure full
collaboration between the two companies with respect to exploration results
and ideas.
Nine of the gold properties are in southern Peru and one is in central
Peru. The southern Peru targets cover a total of 1,610 hectares. These
properties have all recently been acquired by Candente to cover
high-sulphidation gold targets, which have alteration systems and
geochemical signatures similar to bulk tonnage gold deposits found both in
Peru and other locations in the world. In addition to the gold, silver
targets have also been identified on some of these properties. Silver
grades in rock chip samples reach as high as 282 grams per tonne (8.7
ounces per ton).
One of the southern Peru properties, Millo, is held jointly by Candente and
Geologix and was won in an auction against Barrick Gold Corp. Geologix has
also agreed to the RFR agreement with Anglogold. The Millo property covers
a volcanic centre with an extensive hydrothermal alteration zone covering
three kilometres by four kilometres. Rocks exposed on the property show
characteristics of a high-sulphidation gold system with anomalous values of
mercury and gold and typical alteration products such as: massive to vuggy
silica, hydrothermal breccias, pervasive silicification and
quartz-alunite-dickite, argillic clays, and native sulphur and crystalline
barite.
The target located in central Peru, the Pamel property, lies within the
same Tertiary volcanic belt that hosts the Pierina and Yanacocha gold
deposits. Pamel was the first high-sulphidation target acquired by Candente
as a result of the company's initial regional exploration program carried
out in 1997. Hydrothermal alteration typical of a high-sulphidation
epithermal gold deposit covers a two-kilometre-by-four-kilometre area. In
addition, anomalous levels of gold, mercury, arsenic, antimony, bismuth and
barium occur in zoned patterns over a large portion of the hydrothermal
alteration zone.
On another matter, Candente's management would like to invite you to come
and meet Joanne C. Freeze, president and chief executive officer, and other
company personnel at the following conferences: Prospectors and Developers
Conference, March 9 to 12 in Toronto, Ont.; Chicago Natural Resource and
Technology Exhibition and Conference, April 12 in Chicago, Ill.; Cambridge
Montreal Investment Conference, April 12 and 13 in Montreal, Que.; and the
International Investment Conference, April 26 and 27 in Las Vegas, Nev.
WARNING: The company relies upon litigation protection for
"forward-looking" statements.
(c) Copyright
Frank Pembleton
22 años hace
Investors choose minerals over paper
Vancouver crowd swarms gold, mining exhibitors
By Thom Calandra, CBS.MarketWatch.com
Last Update: 11:48 AM ET Jan. 28, 2003
VANCOUVER (CBS.MW) - Bring out the gold crowd, more than 2,000 of them, and you'll get more mining and gold-share metrics than you bargained for.
"We're digging pits straight to bedrock before we drill, because it's cheaper, a lot more efficient," says Joanne Freeze, a geologist and chief executive of Candente Resource Corp. (CA:DNT: news, chart, profile). Freeze's tiny Candente doesn't have too much of a choice. In Peru, local miners dig bullion out of the ground for as little as $40 an ounce.
Freeze is one of scores of executives and geologists in Vancouver this week, telling their stories to investors and analysts at two events. She joined more than 100 mostly junior-level companies at an investor pre-show to the annual Cordilleran Roundup in this Canadian town, which is as close to ground zero as you can get to the mining and exploration sector.
The Vancouver Gold and Investment Show this past weekend hearkened back to the days, less than 10 years ago, when gold was a $500-an-ounce-plus commodity with cachet. "Three months ago, we never would have expected this kind of crowd," said Joe Martin of Cambridge House, the gold show's organizer. "I think we're seeing the light at the end of the tunnel."
On Tuesday, filling the halls of the Cordilleran Roundup gathering were professionals seeking financing or insight into minerals mining. The event, in its 19th year, moved to a larger hotel on the Vancouver waterfront after registration boomed following the steady rise of gold and platinum prices.
With gold's price flirting with $370 an ounce for the first time in six years, the Roundup's trade show and exhibitor hall sold out this year, drawing the world's biggest gold miner, Newmont Mining (NEM: news, chart, profile), as well as tiny diamond explorers, minerals labs and even helicopter pilots plying their trade.
Ahead of the Roundup, those who packed a neighboring hotel at Martin's Vancouver gold show were ordinary folks, hoping for insight into a small world that has spawned 300 percent and 400 percent gainers in the past 18 months. "The regular stock market just isn't doing it," says Keith MacDougall, a private investor who lives in British Columbia. See: Geologists find wealth in dusty fields.
MacDougall, and the throng of Main Street investors at the gold show, hung on the advice of several high-profile mining analysts, including Robert Bishop of Gold Mining Stock Report, Frank Holmes of U.S. Global Investors and John Kaiser of Bottom Fishing Report.
Holmes' mutual fund company U.S. Global, thanks to gold companies, had some of 2002's best gaining funds among domestic equity funds in the United States. He demonstrated how a mix of S&P 500 Index shares, 80 percent, and Toronto Gold and Precious Minerals shares, 20 percent, achieved an average annual return to shareholders of about 12 percent from 1971 through 2002. That was higher, and with less volatility, than a pure S&P 500 holding.
The mixed portfolio "gave you more or less the same risk as a pure stock-market exposure with no gold, but a significantly higher return," said Holmes. His startling discovery, one that knocked the breath out of some investors at the conference, was that total return, including dividends, of the TSE Gold Index of mining companies from 1972 through 1996 beat the overall stock market, as measured by the S&P 500 Index.
"The difference was U.S. government budget deficits," Holmes said. "Once the Clinton White House started slashing the deficit, gold fell, the dollar rose and the stock market beat the miners," said the Canadian-born executive, whose fund company is based in Texas. Since the Sept. 11, 2001 attacks, "the budget deficit has returned, real interest rates are negative, the dollar has fallen and gold has risen."
Higher shares prices for the smallest mining companies - in some cases 5 times or more their levels of a year ago -- are allowing the exploration sector greater freedom to raise the money they need to hire drilling rigs, helicopter pilots and grizzled geologists to comb the world for properties.
"Our best defense is our share price," President and CEO John A. Clarke of Nevsun Resources (CA:NSU: news, chart, profile) told me over lunch. Clarke, when mining shares were near their lowest point almost three years ago, insisted his Vancouver company renew licensing rights from government agencies in western Mali, Africa.
The payoff came last week. Nevsun's assay results from its Eritrea property in Mali bowled over most investors. "We were hitting massive sulphides," said Clarke, whose career goes back five years with Nevsun and another 15 years with Ghana explorer and producer Ashanti Mining.
Nevsun also recorded promising results from two other Mali projects. The company, its shares making it 2002's biggest gaining gold stock in the world, stands to boost its estimated resource base of 3.2 million ounces. Other gold companies, particularly those in resource-hungry South Africa, are watching closely.
"If someone takes a run at us," Clarke says of a potential takeover attempt, it's entirely the shareholder's choice. This is mind blowing, but it's early days."
Nevsun's fully diluted market worth, even after seeing its shares rise 1,500 percent from 1999 through this month, is less than $200 million Canadian. Far smaller companies, such as Freeze's Candente, which is exploring in Peru and Canada, says the entire exploration industry's successes brighten prospects for all legitimate miners.
"Anglogold (AU: news, chart, profile), Newmont, Placer Dome (PDG: news, chart, profile), they all need product," says Freeze at Candente, which is worth just $11 million Canadian, even after a one-year doubling of the company's stock price. "The largest miners have all let this exploration activities decline to perilously low levels."
Kaiser, a newsletter writer whose Bottom Fishing Report sizes up the relative value of exploration companies based on estimated resources and other mining metrics, says a $375-an-ounce gold company "makes it very economic for most of the juniors."
One of Kaiser's best values right now is Eagle Plains Resources (CA:EPL: news, chart, profile), whose shares, like most of those mentioned in this article, trade on the Toronto Stock Exchange's venture section. " "Eagle Plains could have a million ounces of high-grade gold in Northwestern British Columbia,' says the California-based analyst. The company's stock-market worth is less than $5 million Canadian.
http://cbs.marketwatch.com/news/story.asp?guid={FFAB03CE-30C0-451B-A9AD-1F703EB8211B}&siteid=mkt...
Frank Pembleton
22 años hace
Candente Expands Gold Target in Northern Peru
Wednesday October 30, 6:44 pm ET
DNT:TSX-V
VANCOUVER, Oct. 30 /PRNewswire-FirstCall/ - Candente Resource Corp. ("Candente") (DNT: TSX Venture:) is very pleased to announce the Company was the successful bidder in an auction for a high sulphidation gold target in Northern Peru. Candente and Barrick Gold were the only participants in the auction having applied for overlapping areas on the same day September 2nd, 2002.
The target is located half-way between the Yanacocha and Pierina Mines, 36 km south-southeast of the Alto Chicama property, where Barrick Gold recently announced a new discovery in excess of 7 million ounces of gold. Gold grades of up to 1 to 3 grams per tonne occur in vuggy silica breccia and alunite fragments over an area one kilometre long and 150 metres wide in the new target area, the Toril Zone. The Toril breccia material is very similar to the host rocks of the Pierina and Yanacocha Mines in Peru. The presence of the breccia indicates the potential for a buried body of gold mineralization.
In addition to the gold bearing vuggy silica breccia, anomalous gold, mercury and other elements typical of high sulphidation environments occur in soils over an area 1.4 km (0.84 miles) by 1.65 km (1 mile). The hosts rocks are the same Tertiary Calipuy volcaniclastic rocks that host the major low cost ($40 to $120 per ounce) gold mines in Peru.
The Toril Zone is subject to Candente's Option to Purchase Agreement with Hecla Mining on the Alto Dorado Property. The Toril Zone was originally held and explored as part the Alto Dorado Property by Hecla and is within an area of mutual interest. Candente has the right to earn 100% interest subject to a 2.5% NSR with a buyout of 1.5% of Hecla's NSR for US$1.5 million. Candente's obligations are: to pay annual vigencia fees of US$10,000, fund and carry out applications for all exploration permits and to share any future third party option/joint venture payments received by Candente as to 25% to Hecla in the first year, 20% in the second, 15% in the third and 10% in the fourth. All payments will be applied to the NSR buyout. Hecla's exploration on the property included extensive mapping, geochemical sampling, trenching, road building and limited diamond drilling. Expenditures by Hecla were in excess of US$500,000. All of the data has been delivered to Candente.
The Toril Zone was part of the area under auction on October 22nd as described in News Release No. 59 dated October 10th, 2002. Candente won the auction on October 22nd and paid the Peruvian government US$50,227 for 100% interest in the Toril Zone.
Candente is a junior exploration company focused on the acquisition, exploration and development of world-class gold and copper projects in Peru and Eastern Canada. Management has a track record of gold discoveries, extensive experience in Peru and internationally. Candente's common shares are traded on the TSX Venture Exchange under the trading symbol DNT.
On another matter, Candente's management invites you to meet Joanne C. Freeze, President & CEO and other Company personnel at the following conferences: CIM St John's, Newfoundland, Oct. 31st to Nov. 2nd; New Orleans Investment Conference, Nov. 7-10 in New Orleans, LA; and International Investment Conference, Dec.1st-2nd in San Francisco, CA.
http://biz.yahoo.com/prnews/021030/va270_1.html
Frank Pembleton
22 años hace
Prudent Bear Exercises Warrants and Candente Appoints New Director
Monday October 21, 6:50 pm ET
DNT:TSX-V
VANCOUVER, Oct. 21 /PRNewswire-FirstCall/ - Candente Resource Corp. ("Candente") (DNT: TSX Venture:) is pleased to announce the Prudent Bear Fund has exercised 382,850 Warrants at $0.25 and 1,200,000 Warrants at $0.20 for net proceeds of Canadian $335,712.50.
In addition to previous investments, the Prudent Bear Fund, will now hold 4,188,550 shares of the Company, which is 19.8% of the total issued and outstanding shares of the Company. These shares were acquired for investment purposes. The Fund also holds a total of 505,000 Warrants of the Company (370,000 exercisable at $0.20 if exercised by January 31, 2003 or at $0.25 if exercised by January 31, 2004 and 135,000 exercisable at $0.44 if exercised by May 16, 2003 or at $0.49 if exercised by May 16, 2004.
Candente is also pleased to announce the appointment of Mr. Larry Kornze as a Director of the Board of Candente. Mr. Kornze joined the Company's Advisory Board as an Officer on October 4th, 2001 and on October 18th, 2002 became a Director. He remains in the position of Director of Business Development of the Company. In the year 2001, Mr. Kornze retired from Barrick Gold Corporation as the General Manager of Exploration for Mexico and Central America, and International Evaluations. Prior to working internationally, he was the US Exploration Manager for Barrick Gold Exploration Inc. and was involved with discovery of over 40 Million ounces of Gold in the Carlin Trend of Nevada. Prior to joining Barrick in 1985, Mr. Kornze held various positions with Newmont and Getty Mining Co. in North America. His exceptional 34 year career in international gold exploration brings invaluable experience to the Company, which will greatly assist Candente in advancing its' gold properties in Peru and Newfoundland.
On another matter, Candente's management invites you to meet Joanne C. Freeze, President & CEO and other Company personnel at the following conferences: Chicago Natural Resource and Technology Exhibition and Conference, Oct. 26 in Chicago, IL; CIM Conference Oct. 31 to Nov. 2 in St John's, Newfoundland; New Orleans Investment Conference, Nov. 7-10 in New Orleans, LA; and International Investment Conference, Dec.1-2 in San Francisco, CA.
http://biz.yahoo.com/prnews/021021/va223_1.html
Frank Pembleton
22 años hace
Candente over stakes same areas as Barrick in Peru
DNT:TSX-V
VANCOUVER, Oct. 11 /PRNewswire-FirstCall/ - Candente Resource Corp. ("Candente") (DNT: TSX Venture:) is pleased to announce that the Company has been advised by the Peruvian government that Barrick Gold ("Barrick") and Candente have over staked on four claim block applications in Peru covering 3200 hectares (7900 acres). Candente has the option of reaching an agreement with Barrick or competing against Barrick in auctions on October 22nd and 23rd to determine title to these areas.
In three of the locations, Barrick and Candente were the only parties to apply for the ground as soon as it came open; in the fourth area an individual also filed an application the same day.
The auction situation only arises in Peru when an area has come open due to an older concession lapsing. In this case, the government publishes the date that the area is available for staking in the local newspaper and all parties staking on the first half of the specified day are considered equal. The equal parties have the option of reaching an agreement or competing in an open forum auction held by the government.
All four of the claims were staked to cover high sulphidation gold targets. Two of the overlapped claims are contiguous with the Alto Dorado property recently optioned from Hecla Mining and described below. The other two claims are in the South of Peru in the Department of Puno where Anglo Gold has also made a new high sulphidation gold discovery. The southern two claims are at the centre of a large claim block held by Buenaventura, co-owners of the Yanacocha Mine.
The Alto Dorado property hosts both high sulphidation and porphyry gold targets similar to those found at the Pierina and Yanacocha high sulfidation mines in Peru. The property is located half-way between the Yanacocha and Pierina deposits, 36 km south-southeast of the Alto Chicama property, where Barrick Gold recently announced a new discovery of in excess of 7 million ounces of gold. High sulfidation targets have been identified both on surface and in drill holes and comprise typical vuggy silica with gold grades from 0.5 to 3.6 grams per tonne (gpt). The main alteration zone recognizable in satellite photographs covers 7 x 2.5 Km. Anomalous levels of gold in soils occur over an area 8 x 2 Km and range from 40 to 979 ppb with several samples in the 500 ppb (0.5 gpt) range.
The above-mentioned developments help to confirm Candente's decision to pursue the recently signed agreement with Hecla Mining Company on the Alto Dorado property and other acquisitions in Peru.
Candente is a junior exploration company focused on the acquisition, exploration and development of world-class gold and copper projects in Peru and Eastern Canada. Management has a track record of gold discoveries, extensive experience in Peru and internationally. Candente's common shares are traded on the TSX Venture Exchange under the trading symbol DNT.
On another matter, Candente's management would like to invite you to come and meet Joanne C. Freeze, President & CEO and other Company personnel at the following conferences: Chicago Natural Resource and Technology Exhibition and Conference, Oct. 26 in Chicago, IL; CIM Conference Oct. 31 to Nov. 2 in St John's, Newfoundland; New Orleans Investment Conference, Nov. 7-10 in New Orleans, LA; and International Investment Conference, Dec.1/2 in San Francisco, CA
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