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
In his session at @DevOpsSummit at 20th Cloud Expo, Kelly Looney, director of DevOps consulting for Skytap, showed how an incremental approach to introducing containers into complex, distributed applications results in modernization with less risk and more reward. He also shared the story of how Skytap used Docker to get out of the business of managing infrastructure, and into the business of delivering innovation and business value. Attendees learned how up-front planning allows for a clean sep...
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
Enterprise architects are increasingly adopting multi-cloud strategies as they seek to utilize existing data center assets, leverage the advantages of cloud computing and avoid cloud vendor lock-in. This requires a globally aware traffic management strategy that can monitor infrastructure health across data centers and end-user experience globally, while responding to control changes and system specification at the speed of today’s DevOps teams. In his session at 20th Cloud Expo, Josh Gray, Chie...
Internet-of-Things discussions can end up either going down the consumer gadget rabbit hole or focused on the sort of data logging that industrial manufacturers have been doing forever. However, in fact, companies today are already using IoT data both to optimize their operational technology and to improve the experience of customer interactions in novel ways. In his session at @ThingsExpo, Gordon Haff, Red Hat Technology Evangelist, shared examples from a wide range of industries – including en...
In IT, we sometimes coin terms for things before we know exactly what they are and how they’ll be used. The resulting terms may capture a common set of aspirations and goals – as “cloud” did broadly for on-demand, self-service, and flexible computing. But such a term can also lump together diverse and even competing practices, technologies, and priorities to the point where important distinctions are glossed over and lost.
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. Jack Norris reviews best practices to show how companies develop, deploy, and dynamically update these applications and how this data-first...
Intelligent Automation is now one of the key business imperatives for CIOs and CISOs impacting all areas of business today. In his session at 21st Cloud Expo, Brian Boeggeman, VP Alliances & Partnerships at Ayehu, will talk about how business value is created and delivered through intelligent automation to today’s enterprises. The open ecosystem platform approach toward Intelligent Automation that Ayehu delivers to the market is core to enabling the creation of the self-driving enterprise.
"At the keynote this morning we spoke about the value proposition of Nutanix, of having a DevOps culture and a mindset, and the business outcomes of achieving agility and scale, which everybody here is trying to accomplish," noted Mark Lavi, DevOps Solution Architect at Nutanix, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We're here to tell the world about our cloud-scale infrastructure that we have at Juniper combined with the world-class security that we put into the cloud," explained Lisa Guess, VP of Systems Engineering at Juniper Networks, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. H...
Consumers increasingly expect their electronic "things" to be connected to smart phones, tablets and the Internet. When that thing happens to be a medical device, the risks and benefits of connectivity must be carefully weighed. Once the decision is made that connecting the device is beneficial, medical device manufacturers must design their products to maintain patient safety and prevent compromised personal health information in the face of cybersecurity threats. In his session at @ThingsExpo...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Detecting internal user threats in the Big Data eco-system is challenging and cumbersome. Many organizations monitor internal usage of the Big Data eco-system using a set of alerts. This is not a scalable process given the increase in the number of alerts with the accelerating growth in data volume and user base. Organizations are increasingly leveraging machine learning to monitor only those data elements that are sensitive and critical, autonomously establish monitoring policies, and to detect...
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...