Candente Gold recientemente ha cumplido todos los requisitos necesarios para acceder a una participación del 70% en el Proyecto aurifero "El Oro", por un total de US$10 millones y la emisión de un total de 2'000,000 de acciones ordinarias. Con esto, la empresa confirma la participación mayoritaria en el mencionado proyecto minero.
Candente Gold Corp.: Goldcorp Mexico Elects to Continue as a 30% Participating Partner on the El Oro Gold-Silver Project, Mexico
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 10, 2012) - Candente Gold Corp. (TSX:CDG)(PINKSHEETS:CGDXF)(BVL:CDG) ("Candente Gold" or "the Company") is pleased to announce that Goldcorp S.A. de C.V. ("Goldcorp Mexico", formerly Luismin S.A. de C.V.), a subsidiary of Goldcorp Inc., has advised the Company that it has elected to retain its 30% interest in the entirety of the El Oro Gold-Silver Project in Mexico by participating pro-rata in all future expenditures.
Candente Gold recently fulfilled all requirements necessary to earn a 70% interest in the El Oro Gold Project by spending a total of US$10M and issuing a total of 2,000,000 common shares in the capital of the Company. The Company has now received written confirmation that Goldcorp Mexico intends to stay at a 30% interest by participating in future expenditures in both the Historic Mining Area and Exploration Area (as defined in the option agreement). The Company is in the process of establishing required protocols that will define the future operation of the Joint Venture.
"We are very pleased to both confirm our 70% ownership of the El Oro project, and to move ahead with Goldcorp Mexico as a minority partner," said Joanne Freeze, P.Geo., President & CEO. "We believe that the large number of high grade gold and silver intersections well below the historical workings on the San Rafael Vein strongly indicate that the El Oro Project has exceptional potential to host additional high-grade gold and silver zones. Now that Candente Gold has control over the project we believe the Company will be better able to realize the economic potential of the project."
El Oro Exploration Update
The following compilation work is underway:
3D modelling of all underground workings, drill holes and surface pits; grade for Au g/t, Ag g/t, Hg ppb and any other metals proven to be useful; the Somera Tuff unconformity; the strike and dip of known veins and vein segments; the known high- and low-angle faults; known alteration boundaries; unique sedimentary horizons that may be more amenable to mineralization (coarser grained or more calcareous) or due to competency contrasts with an objective to gain an understanding of all grade controls including: structural, breccia-hosted, lithology controlled and intensely leached portions of the vein.
Fluid inclusion study coupled with the characterization of known and unique vein segments via "a vein intercept study" to include: metal ratios; metal contents; vein textures; vein mineralogy sulphide contents; vein mineralogy; alteration; and gangue mineralogy; pre- and post-mineral faults and any other information that can aid in paleo-depth assessment of each of the various veins and vein segments intersected to date. Consideration of known low angle penetrative fault features versus high angle normal features will be carefully considered.
Ore shoot targeting for future drilling.
Peru Exploration Update
New gold and silver discoveries in southern Peru by Buenaventura and Goldfields have shed new light (geologically) and increased interest in Candente Gold's Tres Marias and Fredito properties in the same area. Buenaventura has tagged on to the southern extent of Tres Marias with new claims. Exploration and community relations work is in progress to define drill targets and acquire drilling permits on the Tres Marias property.
On behalf of the Board of Candente Gold Corp.
Joanne Freeze, P.Geo., President & CEO
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