Welcome!

News Feed Item

Candente Gold Corp.: High Gold and Silver Grades Confirmed for the El Oro Mine Tailings

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/26/14 -- Candente Gold Corp. (TSX:CDG)(LMA:CDG) ("Candente Gold" or "the Company") is pleased to report that an auger and channel sampling program has been completed on the Mexico Mines tailings deposit under option from the municipality of El Oro in Mexico.

An average grade of 2.95 grams per tonne ("g/t") gold and 60.70 g/t silver was obtained from the 101 auger/vertical channel samples collected from the Mexico Mine Tailings dump at the El Oro Project. The base of the tailings in the northwest average 3.49 g/t gold and 80.34 g/t silver. Approximately 8% of the samples collected average greater than 4.0 g/t gold and as high as 4.81 g/t gold. Also 8% of the silver averages greater than 100 g/t and as high as 188 g/t. In addition, 21% of the samples average greater than 3.5 g/t gold and 22% average greater than 80 g/t silver. All samples were collected over 1.0 metre sample lengths. A total of 22 holes were sampled by hand auger to a 3.0 metre depth. Channel samples were collected predominantly from the base of the tailings toe upwards for a distance of 5 to 10 metres vertically. (See map/airphoto at the following address: http://media3.marketwire.com/docs/El_Oro_Project_Mexico-Mine-Tailings.pdf)


----------------------------------------------------------------------------
                                Location in Tailings                        
Sample Type               No.   Pile                    Gold g/t  Silver g/t
----------------------------------------------------------------------------
Auger Samples             47    Top to 3m depth         2.79      55.10     
----------------------------------------------------------------------------
Vertical Channel Samples  54    Mixed top and toe       3.08      65.57     
----------------------------------------------------------------------------
Auger + Channel Samples   101   Evenly Distributed      2.95      60.70     
Total                                                                       
----------------------------------------------------------------------------
Vertical Channel Sections                                                   
----------------------------------------------------------------------------
2014-SEC 1W-CHAN (10m)    10    Lower toe in NW         3.49      80.34     
----------------------------------------------------------------------------
2014-SEC 3E-CHAN (4m)     4     Lower in NE             3.31      91.13     
----------------------------------------------------------------------------
2014-SEC 7E-CHAN (5m)     5     Lower toe on E side     2.95      86.26     
----------------------------------------------------------------------------
Note: all samples 1.0m in length                                            

The results of this initial auger/vertical channel sampling program support the tailings historical gold and silver grades reported by previous owners. With this verification completed, work is now in progress to develop a current Inferred Resource Estimate for the tailings.

As reported on April 15, 2014 (News Release 034) JDS Energy and Mining Inc. ("JDS") conducted a high level conceptual study for a Tailings Recovery Operation ("TRO") near the El Oro site. The positive study results reported by JDS indicate that the Mexican mine tailings from El Oro have the potential to meet the Company's objective which is to identify an opportunity to develop cash flow in the near term with relatively low capital costs.

Results from the auger/vertical channel sampling program will be combined with the next stage of study by JDS, which is expected to lead to an increased level of confidence in the economic potential of the El Oro Mexico mine tailings deposit.

A subsequent drilling program is planned to provide additional confirmation of the grade continuity at depth and provide additional samples for metallurgical test work. The metallurgical test work program will determine optimal recoveries; establish the process flowsheet and reagent consumption levels; and define the detailed mineralogical characteristics of the tailings dump. Environmental Impact Assessment ("EIA") studies and the drill permitting process were initiated in April 2014 and the drill permit was received on June 20, 2014.

Background on the Tailings

In 2013, Candente Gold acquired the right to process historic tailings left from pre-1930s milling of ores from the Mexico Mine in the El Oro District in Mexico State, Mexico. The tailings have had extensive historic assessments including drill testing and metallurgical test work demonstrating that it is a valid exploration target with the potential for 800,000 to 839,000 tonnes grading from 2.80 to 2.95 grams per tonne gold (potential for 79,000 to 90,000 oz of gold) and from 75.00 to 89.00 grams per tonne silver (potential for 2,000,000 to 2,600,000 oz of silver). The tailings deposit lies within the town of El Oro and covers an area of approximately 5.6 hectares that once reclaimed, will be available for the town's future development. The tailings are adjacent to existing road access, power and water services. Three other tailings deposits also exist within the Municipality of El Oro and are included in the Agreement but require further testing and evaluations prior to making a decision to reprocess and reclaim.

The above potential tonnage and grade estimation of the Mexico mine tailings exploration target is historical in nature and Candente Gold needs to conduct further work to verify these historic results. This estimation is being used for conceptual purposes only and should not be relied upon as insufficient recent sampling has been carried out to define an Inferred Mineral Resource using Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") resource categories (CIM, Nov 2010). The homogenous nature of tailings, at least in a lateral sense, suggests that a sample population of the tailings could be systematically verified by a grid based auger and trench sampling program such that grade continuity could be predicted with confidence and contained metals may be better verified with a reasonable level of reliability. This work could be sufficient to bring the historical estimate into a current Inferred Mineral Resource category. Further verification with a drilling program using appropriate QA/QC procedures consistent with CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines reference in NI 43-101, including a reliable determination of the specific gravity and further metallurgical test work is required to identify with more certainty, the quantity and grade of the reported estimate to meet an Indicated Mineral Resource category under CIM Definition Standards. A qualified person has not yet done sufficient work to classify the historical estimate as a current Inferred Mineral Resource, and the Company is not treating the historical estimate as current mineral resources.

For more details, you may view our El Oro Tailings Update Presentation at: http://www.candentegold.com/s/presentations.asp

About Candente Gold

Candente Gold's flagship asset is El Oro, a district scale gold project encompassing the largest and most prolific high grade gold dominant epithermal vein system in Mexico. The project covers 20 veins with past production and more than 57 veins in total, from which approximately 6.4 million ounces of gold and 74 million ounces of silver were reported to have been produced from just two of these veins.

Modern understanding of epithermal vein systems strongly indicates that several of the El Oro district's veins hold potential for discovery of significant gold and silver mineralization, particularly below the historic workings of the San Rafael Vein, which was mined to an average depth of only 200 metres and produced 4 million ounces gold and 44 million ounces of silver.

Candente Gold also holds an extensive portfolio of 100% owned, early to mid-stage; high and low sulphidation epithermal gold projects in Peru. Many of these projects have significant exploration completed and targets ready to be drill tested.

Qualified Persons

Joanne C. Freeze, P.Geo., President and CEO of Candente Gold, Sean I. Waller, P.Eng., Vice President of Candente Gold and Nadia M. Caira, P.Geo. of World Metals Inc. (formerly Argonaut Gold Odyssey Inc.) are the Qualified Persons as defined by NI 43-101 for the project discussed above and have read and approved the contents of this release.

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.

On behalf of the Board of Candente Gold Corp.

Joanne Freeze, P.Geo., President & CEO

A map is available on the Marketwired website at the following address: http://media3.marketwire.com/docs/El_Oro_Project_Mexico-Mine-Tailings.pdf

NR 036

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
Many banks and financial institutions are experimenting with containers in development environments, but when will they move into production? Containers are seen as the key to achieving the ultimate in information technology flexibility and agility. Containers work on both public and private clouds, and make it easy to build and deploy applications. The challenge for regulated industries is the cost and complexity of container security compliance. VM security compliance is already challenging, ...
The pace of innovation, vendor lock-in, production sustainability, cost-effectiveness, and managing risk… In his session at 18th Cloud Expo, Dan Choquette, Founder of RackN, will discuss how CIOs are challenged finding the balance of finding the right tools, technology and operational model that serves the business the best. He will discuss how clouds, open source software and infrastructure solutions have benefits but also drawbacks and how workload and operational portability between vendors...
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discuss how businesses can gain an edge over competitors by empowering consumers to take control through IoT. We'll cite examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He'll also highlight how IoT can revitalize and restore outdated business models, making them profitable...
As machines are increasingly connected to the internet, it’s becoming easier to discover the numerous ways Industrial IoT (IIoT) is helping to shape the business world. This is exactly why we have decided to take a closer look at this pervasive movement and to examine the desire to connect more things! Now if you need a refresher on IIoT and how it is changing the world, take a moment and listen to Greg Gorbach with ARC Advisory Group. Gorbach believes, "IIoT will significantly change the worl...
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit y...
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo New York Call for Papers is now open.
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
SYS-CON Events announced today that Enzu, a leading provider of cloud hosting solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to foc...
Customer experience has become a competitive differentiator for companies, and it’s imperative that brands seamlessly connect the customer journey across all platforms. With the continued explosion of IoT, join us for a look at how to build a winning digital foundation in the connected era – today and in the future. In his session at @ThingsExpo, Chris Nguyen, Group Product Marketing Manager at Adobe, will discuss how to successfully leverage mobile, rapidly deploy content, capture real-time d...