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Candente Copper Provides Voting Results for the Election of Directors
|By Marketwired .
|June 6, 2014 04:00 AM EDT
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/06/14 -- Candente Copper Corp. (TSX: DNT)(LMA: DNT)(PINKSHEETS: CCOXF) ("Candente Copper" and/or the "Company" ) is pleased to provide the voting results for the election of directors at its annual general meeting of shareholders held on June 4, 2014.
The director nominees were presented in the Company's Management Information Circular dated April 17, 2014, and shareholders re-elected all directors nominated by management. The directors will serve until the next annual general meeting of the Company. The voting results are as follows:
Nominee For Withheld
Joanne C. Freeze 15,162,083 359,885
Sean I. Waller 15,231,603 290,365
Andres J. Milla 15,376,653 145,315
John E. Black 15,372,253 149,715
Wolfgang P.T. Nickel 14,920,953 601,015
George Elliott 15,376,653 145,315
Michael J. Thicke 15,228,853 293,115
Federico L. Oviedo 15,373,353 148,615
About Candente Copper
Candente Copper is a mineral exploration company engaged in the acquisition, exploration and development of mineral properties. The company is currently focused on its 100% owned Canariaco project, which includes the Feasibility stage Canariaco Norte deposit as well as the Canariaco Sur deposit and Quebrada Verde prospect, located within the western Cordillera of the Peruvian Andes in the Department of Lambayeque in Northern Peru.
At Canariaco Norte 7.5 billion pounds of copper have been delineated in a Measured and Indicated(i) resource of 752.4 million tonnes grading 0.49% copper equivalent(ii). An Inferred Resource of 157.7 million tonnes at 0.44% copper equivalent has also been delineated in the Canariaco Norte deposit.
A highly successful Phase I drilling program was carried out in 2013 on the Canariaco Sur deposit. Future drilling is planned for additional step-out drilling at Canariaco Sur as well as first phase drilling on the Quebrada Verde target. Drilling permits are in place for much of the drilling proposed for Canariaco Sur and Candente Copper has applied to MINEM for a modification to its current drilling permit so that additional drilling could be conducted on potential extension areas to Canariaco Sur and on the Quebrada Verde target.
In addition, Candente Copper holds several other base metal exploration projects in Peru. One of these, the Arikepay copper-gold porphyry, is being explored under a joint venture agreement with Zahena S.A.C. who is funding up to USD$5 million (M) in exploration expenditures and USD$4M in payments within 4 years.
Sean Waller, P.Eng., President and Joanne C. Freeze, P.Geo., CEO, are the Qualified Persons as defined by National Instrument 43-101 for the projects discussed above. They have reviewed and approved the contents of this release. (i)The 'Measured and Indicated Resource' listed above consists of Measured Resources of 338.1Mt at 0.48% Cu, 0.08 g/t Au, and 2.0/t Ag (0.52% Cu Eq.), plus Indicated Resources of 414.3Mt at 0.43% Cu, 0.06 g/t Au, and 1.8 g/t Ag (o.46% Cu Eq.). All resources quoted in this release are based on a 0.30% copper cut-off grade and 229 drill holes completed to the end of 2008. (ii)Copper equivalent grade including gold and silver, metal recoveries (copper 90%, gold 55%; silver 50%) and smelter returns (copper 96.5%: gold 93%; silver 90%) applied. Copper grade equivalent calculation: Cu Eq% =(Cu % + ((Au grade x Au price x Au recovery x Au smelter return%)+(Ag grade x Ag price x Ag recovery x Ag smelter return%))/(22.0462 x Cu price x 31.0135 g/t x Cu recovery x Cu smelter return%). The metal prices used are: copper US$2.50/lb, gold US$1,035/oz and silver US$17.25/oz.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This news release may contain forward-looking information including but not limited to comments regarding the timing and content of upcoming work programs, geoloical interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking information addresses future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such forward-looking information.
CAUTIONARY NOTE TO U.S. INVESTORS
We advise U.S. investors that this news release uses terms that are not recognized by the United States Securities and Exchange Commission ("SEC"), including "mineral resources", "measured resources", "indicated resources" and "inferred resources". The estimation of measured and indicated resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned not to assume that mineral resources in these categories will be converted to reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. U.S. investors are cautioned not to assume that estimates of inferred mineral resources exist, are economically mineable, or will be upgraded into measured or indicated mineral resources. U.S. investors are cautioned not to assume that mineral resources in any of these categories will be converted into reserves.
On behalf of the Board of Candente Copper Corp.
Joanne C. Freeze, P.Geo., CEO, Director
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