Candente Copper Corp. (TSX:DNT) has acquired additional mineral concessions which provide a considerable expansion to the current land position for the Cañariaco copper project located in Northern Peru.
In 2019, the Cañariaco property held by the company comprised of five mineral concessions covering 4,290 hectares. This has now been increased to 15 mineral concessions covering 10,190 hectares.
Three of the mineral concessions were acquired directly by subsidiaries of the company in 2020 and 2021 and seven were acquired from Fortescue Peru SA on March 8, 2022. Fortescue Peru S.A. acquired these claims in late January 2020.
The new mineral rights expand the Cañariaco property to the west, northwest, north, northeast and to the south.
With the financing by Lind underway, the company is now completing its review of the recently completed 2022 Preliminary Economic Assessment (the 2022 PEA) by Ausenco and moving forward to issue Requests for Proposals for both the Definitive Feasibility Study and the Detailed Environmental Impact Assessment (EIA) Study both to advance Cañariaco Norte.
Drilling permit applications are also being prepared for further drilling at Cañariaco Sur and initial drilling at Quebrada Verde.
“We are very pleased with what is a considerable expansion of our land position with adjacent concessions to further explore and to provide additional ground around our key deposit areas whilst moving towards a Definitive Feasibility Study for Cañariaco Norte” President and CEO, stated Joanne C. Freeze, said.
About Candente Copper
The Company’s flagship project is Cañariaco, within which Cañariaco Norte, is the 10th largest late-stage copper resource in the world and 6th highest in grade (RFC Ambrian, December 2021 and Haywood, December 2021). In addition to Cañariaco Norte, the Cañariaco Project, includes the Cañariaco Sur deposit and Quebrada Verde prospect, all within a 4km NE-SW trend in northern Peru’s prolific mining district.
For further information please visit: https://candentecopper.com/
