CCOXF - Updated PEA Planned for Cañariaco Norte Copper Project Peru
VANCOUVER, British Columbia, July 15, 2021 (GLOBE NEWSWIRE) -- Candente Copper Corp. (TSX:DNT, BVL:DNT) ("Candente Copper”, “Company”) is pleased to advise that based on the results of the Internal Desk Top Study by Ausenco Engineering Inc., proposals are being requested from two international engineering firms to conduct an updated Preliminary Economic Assessment Study (“PEA”) to evaluate the most attractive potential development strategy for the Cañariaco Norte Project.
Considerations for the PEA are various initial concentrator throughputs including 40,000; 50,000; and 60,000 tonnes per day (“tpd”) followed by a staged expansion of production rate.
Geometallurgical modelling of the deposit and updated smelting costs have indicated that the Outotec Roaster proposed during previous studies will not be required, and therefore it will not be contemplated in the PEA.
Tailings storage methodologies which could improve ESG practices will also be assessed in more detail as part of the PEA.
“The Internal Desk Top Study identified several opportunities with the potential to lower initial capital expenditures (“CapEx”) while also enhancing our environmental, social and governance (“ESG”) practices,” stated Joanne Freeze, President and CEO. “We look forward to embarking upon an updated Preliminary Economic Assessment (“PEA”) to evaluate the most attractive potential development strategy.”
For more details about the Desk Top Study, please see News Releases No. 129 and 132 (dated April 19 th and June 15 th , 2021) and: https://www.candentecopper.com/news-releases/news-releases/2021.
On another matter, the Company has issued 50,000 shares to the owner of the Canyon Creek Copper Project located in British Columbia, Canada and recently acquired under option. We plan to conduct our initial field work on the property within a month or two.
About Candente Copper
Candente Copper is a mineral exploration company engaged in the acquisition, exploration, and development of mineral properties. The Company’s most advanced project is its 100% owned Cañariaco project, which includes the Cañariaco Norte deposit as well as the Cañariaco Sur deposit and Quebrada Verde prospect, located within the western Cordillera of the Peruvian Andes in the Department of Lambayeque in Northern Peru.
Joanne C. Freeze, P.Geo., CEO, Candente Copper is a Qualified Person as defined by National Instrument 43-101 for the projects discussed above and has reviewed and approved the contents of this release.
This news release may contain forward-looking statements including but not limited to comments regarding 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 Copper relies upon litigation protection for forward-looking statements.
On behalf of the Board of Candente Copper Corp.
“Joanne C. Freeze” P.Geo.
President, CEO and Director
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For further information please contact:
info@candentecopper.com
www.candentecopper.com
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