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Candente Gold $CDG.ca Secures Cornerstone for New Growth Strategy $MEX.ca $AGI.ca $DSV.ca

Posted by AGORACOM-Eric at 12:52 PM on Monday, September 28th, 2020
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  • Signed the Definitive Agreement to earn up to a 100% interest in the San Dieguito de Arriba beneficiation plant

VANCOUVER, British Columbia, Sept. 28, 2020 (GLOBE NEWSWIRE) — Candente Gold Corp. (TSXV:CDG) (“Candente Gold” and/or the “Company”) is pleased to advise that the Company has signed the Definitive Agreement (in keeping with the Memorandum of Understanding (“MOU”) signed April 28 th , 2020) with Magellan Acquisition Corp. (“Magellan”) which gives Candente Gold the right to earn up to a 100% interest in the San Dieguito de Arriba beneficiation plant (“SDA Plant”) and take over their rights to a lease agreement on the El Dorado Property, both located in Nayarit State, Mexico.

SDA Plant

The SDA plant consists of a flotation plant which also includes a precious metals leach circuit – Merrill Crowe system and associated assets, licenses and agreements.   The plant has a ten year operating history at 100 tonnes per day but can be expanded to process mined material at a rate of up to 200 tonnes per day.   Historically its operation has been based on sales of flotation concentrates to smelters, and payment for precious metals content.   The plant lies within the rich Sierra Madre Occidental mineralized belt, which historically has yielded millions of ounces (“oz”) of precious metals and offers multiple high grade gold and silver epithermal vein opportunities.

The mill was operational from 2007 (by Minerales Vane S.A. de C.V.) until April 2017, processing material from various operations in the region on a both a profit sharing and toll basis.   The toll materials were tested prior to processing to estimate recoveries and concentrate grades. Typical reported recoveries were in the range 85 to 92% for gold and 72 to 77% for silver.    The mill operated as recently as February 2019 for processing of a bulk sample of approximately 600 tonnes. Due Diligence uncovered the requirements for usual wear and tear maintenance estimated at $95,000 to restore the mill to functional condition in order to receive and run a 1,000 tonne bulk sample from El Dorado. The Company has initiated discussions for potential lines of credit facilities with offtake groups.

El Dorado Gold-Silver Project

The El Dorado Gold-Silver Project is located in the Pacific Coastal Plain, State of Nayarit, within a district of epithermal vein systems which is known to host high grade gold and silver in several veins.    The El Dorado vein trend is the principal vein system within the property covering an area of 5 km x 3.5 km in size. Veining follows a general northeasterly strike dipping steeply to the NW.   A continuous reef outcrop forms a ridge 1.5 kilometers (“km”) in length. Additional discontinuous outcrops both to the NE and SW indicate a strike length of 3.5 km.

The El Dorado vein system has a history of small-scale mining from two veins. Mining in the area has been documented during the periods of: 1900 to 1927; 1965 to 1975; 1975 to 1983; and 1985 to 1990, often producing direct-to-smelter grade material.   Most recently, from 1985 to 1990, material from three levels to a depth of 30 meters (“m”) below the surface was shipped to the “El Venado” processing plant located near Ruiz, Nayarit, for toll treatment to produce a flotation concentrate. Historical metallurgical balance sheets from this plant indicate the grade of the material was in the order of 5 grams per tonne (“g/t”) gold and 70 g/t silver.

Prospero Silver Corp. explored the El Dorado property between 2010 and 2011, through a series of comprehensive exploration programs which included historical data reviews, geological mapping, geochemical sampling, trenching and drilling. A total of 4,950 m were drilled in 28 diamond core holes to an average depth of 150 m, over a strike length of 440 m. The drilling intersected multiple steeply-dipping silicified mineralized zones extending from near-surface to the 150 metre drilled depth.

Significant results reported by Prospero on Dec 10, 2010
( https://pr.globenewswire.com/FileDownloader/DownloadFile?source=ml&fileGuid=83e6aacd-f015-48bc-af52-1e3f95cf6d9b ) included 16.17 meters grading 4.03 g/t gold, 204 g/t silver, 4.0% lead, and 1.75% zinc; and 2.32 meters grading 6.04 g/t gold and 140 g/t silver. The range of widths and grades of the holes within the central portion of the Hundido historical mine area were reported to range from 1.45 meters to 11.22 meters (true widths). The Company’s Qualified Persons have not verified Prospero’s drilling results as due to COVID travel restrictions, they have not yet been able to examine the drill core nor assay data and are therefore relying on data provided in News Releases filed on Sedar by Prospero in 2010 and 2011 and verified by their Qualified Persons.

Prospero also reported that the mineralized zone is 400 meters long and extends up to 180 meters at depth.   Within the mineralized zone Prospero intersected grades ranging from 3.0 to 40.0 g/t Au and 57 to 500 g/t Ag over true widths that range from 0.52 meters to 11.2 meters.

To the Company’s knowledge, a NI 43-101 compliant mineral resource estimate has not been completed for the El Dorado property, however in July 2011, Prospero conducted an in-house historical resource estimate based on their drilling described above as well as a review of summary cross sections, limited production documentation and other mine records, as well as results from samples of mine dumps, underground sampling (46 by Fresnillo) and 283 surface outcrop samples collected by both Prospero and previous explorers and exploiters.

Candente Gold believes that Prospero’s Qualified Person (“QP”) is very well qualified and that the parameters used to arrive at the historical resource estimate are relevant and reliable, however the categories used in the estimate do not appear to be compliant with CIM Definition Standards. The Company’s QP cannot verify that a qualified person has done sufficient work to classify the historical estimates as current mineral resources and therefore the Company is not treating the historical estimates as current mineral resources. Historical reviews of the potential tonnes and the potential grades quoted below are conceptual in nature.

Prospero’s historical resource estimate was calculated using polygonal resources in 10 blocks based on intersections from 10 holes covering/in the Hundido and Intermedia Veins, using a tonnage dilution factor of 25% and a specific gravity of 2.8. Metal equivalencies were based on a gold price of US$1,000 per ounce (“oz”) and a silver value of US$20 per ounce.

Prospero’s historical estimate for the Hundido and Intermedia Veins is 190,000 tonnes grading 7.0 g/t gold and 173 g/t silver containing a historical resource of 40,926 oz gold and 1,014,030 oz silver. The grades and tonnages attributable to each vein are as follows:

HISTORICAL EST I MATE / MINERALIZATION INDICATED BY DRILLING

VeinTrue Width mTonnesGold Equiv alent g/t
Hundido2.389,0007.01
Intermedia8.391,00015.17
Notes:1. Polygonal resources based on intersections from 10 holes.
 2. Tonnage reduced by 25% to allow for mining dilution and recovery loss.
 3. Does not constitute Reserves under SEC Industry Guide 7 nor
Resources under current CIM Definition Standards

Based on all of the existing exploration data and previous historical resource estimates to date the Company believes that a Conceptual Exploration Target within 150 metres of surface has potential for: 110,000 to 200,000 tonnes of material grading from 4.4 to 9.8 g/t gold and 113 to 239 g/t silver containing between 22,500 and 41,000 oz gold and 500,000 to 1,000,000 oz silver, with secondary credits from lead and zinc. This in-situ conceptual estimate of the potential tonnes and grade is contained in unmined portions of the veins as previously delineated. It does not include vertical extensions of the veins below 150 m nor along strike where the veins have been mapped for 3.5 km nor additional exploration potential. The potential quantity and grade described above is conceptual in nature, that there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

The following longitudinal section by Prospero shows the drilling pattern along the El Dorado veinin the area of the Hundido and El Dorado mines, along with summary drill hole intersection grades and widths used in the historical resource estimation. (Prospero News Release dated June 22, 2011)
( https://pr.globenewswire.com/FileDownloader/DownloadFile?source=ml&fileGuid=8153e87a-3b93-4a6b-b4af-b0a9c50c0e5b )

Significant data compilation, re-drilling, re-sampling and data verification may be required by a Qualified Person for the Company before the intersection widths and grades can be verified to be compliant with current NI 43-101 standards. The Company’s QP has not done sufficient work to verify the above-mentioned intersections.

In addition to the data described above, exploration potential outside of the area of historical mining and Prospero’s drilling is believed to be excellent based on the 3.5 km strike length of the vein structures as indicated by vein outcroppings, argillic alteration and silicification. Along this trend, potential exists for both high-grade veins and lower-grade bulk tonnage stockwork zones that have been observed to extend over tens of meters in width in both the hanging wall and footwall of the El Dorado vein system (“Magellan Gold Corporation, Form 10-K Annual Report US SEC dated Dec 31, 2018, File No. 333-174287”)
( https://pr.globenewswire.com/FileDownloader/DownloadFile?source=ml&fileGuid=f7eae2de-c9e8-4748-9f41-78d2cd4ca914 ).  Both the northeasterly striking as well as east-west striking splits of the main structure exhibit structural complexity and potential for multi-meter wide precious metal mineralization. Anomalous base metal assays (100’s to 1000’s of parts per million lead, zinc and copper) are ubiquitous as evidenced by the common occurrence of visible galena, sphalerite and chalcopyrite in outcrop and dumps.

El Dorado lies 50 km south of the SDA Plant, 70 km north-northwest of Tepic, the state capital, and 180 km southeast of Mazatlan, Sinaloa. The project has excellent road and rail infrastructure.

Terms of the Agreement

Candente Gold has the Option to earn up to a 100% interest in the Plant and assume the Lease Agreement to the El Dorado Property by making staged payments in shares totalling a value of US$1.425 million over 30 months as well as $5,000 on signing the MOU and 5,000,000 shares on signing the Definitive Agreement and obtaining TSXV approval. Share values are to be calculated using a 30 day VWAP. The Company also has the option to earn a partial interest in the plant and pay Magellan Acquisitions a fee for usage based on percentage owned. (See News Release No. 077 dated April 28 th , 2020 for more details)

Candente Gold also has the right to assume the rights and obligations of a Lease Agreement Magellan Acquisitions had with the owner of the El Dorado Ingenieros Mineros, S.A. de C.V. (“IMSA”). Candente Gold has the right to explore and exploit form the El Dorado property while IMSA retains a negotiable NSR of 3.5% and is obligated to either perform US$20,000 of work on the property in 2020 and $25,000 in 2021 or make payments of US$5,000 per quarter.

About Candente Gold

Candente Gold has launched a comprehensive growth strategy to build a cash flowing business platform and gaining access to properties with near surface exploration potential while maintaining El Oro as its flagship asset and an integral part of the overall growth strategy. The acquisition of the SDA Plant and the El Dorado historic mines signifies an important first step.   The Company is currently evaluating other properties that are complimentary to the SDA plant and El Dorado Property.

The recently announced profit-sharing agreement on the Cocula Property in Jalisco affords Candente the opportunity to establish a second production center in Western Mexico. Whereas the target properties to provide feed for the SDA plant are dominantly underground targets, the Cocula Property hosts near surface, gold-silver-lead which may be amenable to open pit mining and either leaching or flotation, bringing an element of diversification the Western Mexico operations.

El Oro is a district scale gold project encompassing a well-known prolific high-grade gold dominant silver 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 (Ref. Mexico Geological Service Bulletin No. 37, Mining of the El Oro and Tlapujahua Districts. 1920, T. Flores*)

Modern understanding of epithermal vein systems indicates that several of the El Oro district’s veins hold excellent discovery potential, particularly below and adjacent to the historic workings of the San Rafael Vein, which was mined to an average depth of only 200 metres.

Joanne Freeze, P.Geo., President, CEO and Director and Matthew Melnyk, CPG., Director Operations and Director, are Qualified Persons as defined by National Instrument 43-101 for the project discussed above. Ms. Freeze and Mr. Melnyk have reviewed and approved the contents of this release.

On behalf of the Board of Candente Gold Corp.
“Joanne Freeze” P.Geo.
President, CEO and Director

For further information please contact:
Joanne Freeze
President & CEO
Tel: + 1 (604) 689-1957
[email protected]

Candente Gold $CDG.ca signs Profit Share Agreement for the Cocula Gold Project Western Mexico $CDG.ca $MEX.ca $AGI.ca $DSV.ca

Posted by AGORACOM-Eric at 5:01 PM on Thursday, September 10th, 2020
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  • Candente Gold will be entitled to receive 70% of any potential profits that may be derived from mining and processing of ore from the Cocula Gold Project.

VANCOUVER, British Columbia, Sept. 10, 2020 (GLOBE NEWSWIRE) — Candente Gold Corp. (TSXV:CDG) (“Candente Gold” and/or the “Company”) is pleased to announce the signing of a Letter of Intent (“Agreement”) to enter into a profit sharing agreement on the Cocula Gold Project (“Cocula”) in Jalisco State, Mexico whereby Candente Gold will be entitled to receive 70% of any potential profits that may be derived from mining and processing of the deposit.  The addition of Cocula to our asset base represents another critical step in the Company’s growth strategy for Western Mexico.  In addition to untested exploration potential, the Project contains gold mineralization at surface, hosted in quartz veins, stockwork zones and oxidized, mineralized breccias.

Timmins Gold Corp. explored the Cocula property between 2007 and 2011 through a series of comprehensive exploration programs which included geological mapping, geochemical sampling, trenching and 1,974 meters (“m”) of Reverse Circulation (“RC”) drilling.  Significant results included 54m grading 4.97 grams per tonne (“g/t”) gold in a trench across the center of the mineralized area.  An RC hole drilled beneath this trench encountered 37.5m grading 1.3 g/t gold including 7.5m grading 5.8 g/t from surface to a 7.5 m depth.  Near and at-surface, mineralization delineated by drilling and trenching has been traced for at least 800m along strike within a NW-SE trending fault zone.

To the Company’s knowledge, a NI 43-101 compliant mineral resource estimate has not been completed for the Cocula property however Timmins Gold Corp. conducted various in-house resource estimates. A qualified person has not done sufficient work to classify the historical estimates as current mineral resources and therefor the Company is not treating the historical estimates as current mineral resources.  Historical reviews of the potential tonnes and the potential grades quoted below are conceptual in nature.

In December of 2008, consultant (Pedro Teran) contracted by Timmins Gold Corp., estimated an internal resource estimate for the portion of the deposit delineated by their RC drilling and trenching results, including assays from 1,552 surface samples.  The geologist applied a geological model appropriate to the observed mineralization to build a MineSight block model and derived an estimate of 5,796,023 tonnes grading 0.58 g/t gold containing 108,081 ounces (“oz”) gold (the cutoff grade was not defined and CIM categories are not clear). 

The Company has reviewed the above as well all reports and data available and considers there is potential for conceptual exploration targets including a lower grade bulk tonnage, potentially leachable deposit as well as a higher grade/lower tonnage core of the deposit.  Based on all of the existing exploration data and previous resource estimates to date the Company believes the Conceptual Exploration Targets have potential for: 500,000 to 6,000,000 tonnes grading from 0.5 g/t Au to 2.75 g/t Au containing between 50,000 and 110,000 oz Au with secondary credits from silver, lead, zinc and copper.  The above is based on exploration to date by Timmins and other and does not include additional exploration potential.  The potential quantity and grade described above is conceptual in nature, that there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

The Agreement provides for the following payments to be made by Candente Gold to the owners (the Lopez family) of the Cocula Gold Project:

1. $10,000 upon signing of the Letter of Intent;
2. $20,000 upon signing of a Definitive Agreement (“DA”) and completion of due diligence within 60 days;
3. $210,000 in staged payments to be made every 6 months over a 36 month period starting 6 months after signing the DA.
4. Upon commencement of production, the owner of the Property will receive a minimum consideration of $25,000 per quarter deductible from mining profits for each quarter.

It will be Candente Gold Corp.’s responsibility to put the Property into production and the Lopez Family will retain 25% of the profits derived from mining, processing and product sales.  The Company has also agreed to pay 5% of profits to Mingeo International as a finder’s fee such that the Company will have the rights to retain 70% of all profits.  Mingeo is a non-arms length party.

In addition, the Company welcomes Mr. Barney Lee to the team overseeing operations in Western Mexico.  Barney has over 30 years of experience working in operations in Mexico with numerous companies including the El Sauzal Mine for Glamis Gold and Goldcorp; as Director for Premium Exploration operations in Nayarit and Jalisco and on the Cocula Property for Timmins Gold.  Most recently Mr. Lee has been working on the Los Cardones Project for the Invecture Group and on the Guadalupe de los Reyes Project for Prime Mining.  He has also worked for Barrick Gold, Kennecott and Excellon Resources.   Additionally, Mr. Lee is skilled in dealing with Mexican land tenure, fiscal and accounting matters.  His role going forward will be to manage operations in Western Mexico.

The Project area is located within the Ameca Mining District of Jalisco State which is home to Agnico Eagle’s El Barqueño Project and Endeavor Silver’s Terronera Project. It is hosted in a Mesozoic age volcano-sedimentary package of the Guerrero Terrane intruded by dioritic and granitic stocks.  Mineralization is hosted in multi-lithic breccia within a NW-SE trending fault zone that has been traced for at least 800m in strike length.  The fault zone coincides with the contact of andesites from the volcano-sedimentary package and a granodioritic stock.  A younger sequence of Tertiary age andesites and basalts locally covers portions of the host units.

About Candente Gold

Candente Gold has launched a comprehensive growth strategy to build a cash flowing business platform and gain access to properties with near surface exploration potential while maintaining El Oro as its flagship asset and an integral part of the overall growth strategy.  The acquisition of the SDA Plant and the El Dorado historic mines signifies an important first step.

The financial benefits from Western Mexico operations and the addition of specialized personnel will translate across platforms to strengthen our efforts to explore and potentially mine.  The Company is currently evaluating properties that are complimentary to the SDA plant and El Dorado Property. 

El Oro is a district scale gold project encompassing a well-known prolific high-grade gold dominant gold-silver 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 (Ref. Mexico Geological Service Bulletin No. 37, Mining of the El Oro and Tlapujahua Districts. 1920, T. Flores*)

Modern understanding of epithermal vein systems indicates that several of the El Oro district’s veins hold excellent discovery potential, particularly below and adjacent to the historic workings of the San Rafael Vein, which was mined to an average depth of only 200 metres. 

Joanne C. Freeze, P.Geo., President, CEO and Director and Matthew Melnyk, CPG., Director Operations are Qualified Persons as defined by National Instrument 43-101 for the projects discussed above.  Ms. Freeze and Mr. Melnyk have reviewed and approved the contents of this release.

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

On behalf of the Board of Candente Gold Corp.
“Joanne Freeze” P.Geo.
President, CEO and Director

For further information please contact:
Joanne Freeze                                                                                   President & CEO   
Tel:+1(604)689-1957                                                                                                                  
[email protected]

Sun River Gold Completes the Purchase of an additional 5% NPI in the Mexico Mine Tailings Project $CDG.ca $MEX.ca $AGI.ca $DSV.ca

Posted by AGORACOM-Eric at 8:16 AM on Wednesday, August 19th, 2020
  • Sun River Gold has made the final payment of US$111,000
  • Sun River has the option to acquire 100% of the Tailings Project

VANCOUVER, British Columbia, Aug. 19, 2020 (GLOBE NEWSWIRE) — Candente Gold Corp. (TSXV:CDG) (“Candente Gold” and/or the “Company”) is pleased to advise that Sun River Gold (“Sun River”)  has made the final payment of US$111,000, to increase their ownership in the Mexico Mine Tailings at El Oro Mexico, such that the company’s NPI will be reduced from 10% to 5% after the first US$1,500,000 is received by the Company.

The Mexico Mine Tailings contain an Inferred Resource* of 1,267,400 Tonnes grading 2.94 Au g/t, 75.12 Ag g/t containing 119,900 ounces of gold and 3,061,200 ounces of silver. 

Sun River has the option to acquire 100% of the Tailings Project by making staged payments totalling US$300,000 (paid), bring the tailings into commercial production by October 31, 2021, and grant to the Company a 10% NPI, Life of Mine royalty (the “Candente Royalty”) as well as the Municipality’s 8% NPI on production from the properties.  Sun River had the right to reduce the NPI payable to the Company to 5% by paying an additional US$200,000 in payments (now paid). 

Candente Gold’s subsidiary, CCM El Oro Jales, has an agreement with the municipality of El Oro which provides the Company the right to recover all available gold and silver from the tailings deposit and pay to the Municipality of El Oro an 8% Net Profits Interest (“NPI”).  Candente Gold also retains the first US$1.5M from the 8% NPI payable to the Municipality.  Sun River must make all NPI payments to the Municipality. 

Sun River is a private Arizona based corporation managed by an experienced team of mining professionals with a combined 80 years of mining experience in Mexico, including specific experience in the reprocessing of old gold and silver tailings.  Sun River has advised the Company that it has completed a preliminary internal engineering study (“Internal Study”) for the Mexico Mine Tailings Project, and that it intends to continue development of the project with the objective to enter commercial production.  Sun River has recently advised the Company of the following key points in the development of the project:

  • Sun River has signed a letter of intent and made a down payment to purchase 25 hectares of land near the township of Nopalera approximately 5km by road north of the current location of the Mexico Mine Tailings, which is suitable for plant site and residue storage.
  • The project life is estimated by Sun River to be 1 year of engineering and construction and 4 years of tailings material reclaim and processing (at 1,000 tonnes per day) followed by reclamation.
  • Sun River advises that based on flotation test work at a recognized, independent US metallurgical lab, a standard metallurgical flotation process is expected to recover 65% of the gold and 60% of the silver to a marketable concentrate.
  • Sun River intends to market the gold/silver concentrate on the open market.
  • Sun River intends to contract with a local contractor who will use front end loaders and dump trucks to reclaim the tailings material and haul it to the proposed process plant approximately 5 kms away.   

Jim Bradbury, partner in Sun River Gold, Registered Professional Metallurgical Engineer in the State of Arizona, is considered the Qualified Person for the content of the Internal Study.   The metallurgical test work has been conducted by Minerals Technology LLC, a recognized metallurgical testing laboratory located in Tucson, Arizona whose clients include Florence Copper, ASARCO and BASF Mining Solutions. 

*Note: Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.  All figures have been rounded to reflect the accuracy of the estimate. For more information see “National Instrument 43-101 Technical Report on the Inferred Mineral Resource Estimate of the Mexico Mine Tailings” prepared by Nadia Caira, P.Geo. and Allan Reeves, P.Geo., dated August 25, 2014 with an effective date of July 8, 2014 available at www.sedar.com.

About Candente Gold
Candente Gold’s flagship asset is El Oro, a district scale gold project encompassing a well-known prolific high-grade gold dominant silver 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 (Ref. Mexico Geological Service Bulletin No. 37, Mining of the El Oro and Tlapujahua Districts. 1920, T. Flores*).

Modern understanding of epithermal vein systems indicates that several of the El Oro district’s veins hold excellent discovery potential, particularly below and adjacent to the historic workings of the San Rafael Vein, which was mined to an average depth of only 200 metres. 

Candente Gold is dedicated to being a responsible Community partner participating in Shared Value Initiatives.

Joanne C. Freeze, P.Geo., President, CEO and Director is a Qualified Person as defined by National Instrument 43-101 for the project discussed above.  Ms. Freeze has reviewed and approved the contents of this release.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Forward-looking Information
This news release may contain forward-looking information (as such term is defined under Canadian securities laws) including but not limited to information regarding the processing of tailings to generate short-term cash flow, the potential for discovery in the El Oro district and other statements that are not historical facts.  While such forward-looking information is expressed by Candente Gold in good faith and believed by Candente Gold to have a reasonable basis, they address future events and conditions and are therefore subject to inherent risks and uncertainties including those set out in Candente Gold’s MD&A.  Factors that cause the actual results to differ materially from those in forward-looking information include, without limitation, gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, potential environmental issues, availability of capital and financing and general economic, market or business conditions. Candente Gold expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

On behalf of the Board of Candente Gold Corp.
“Joanne Freeze” P.Geo.
President, CEO and Director

For further information please contact:
Joanne FreezePresident & CEO                                                                               
Tel: + 1 (604) 689-1957
[email protected]

Gold’s Mega Rally Faces $2,000 Hurdle, But For How Long? SPONSOR: Candente Gold $CDG.ca $MEX.ca $AGI.ca

Posted by AGORACOM-Eric at 11:48 AM on Tuesday, August 4th, 2020

SPONSOR: Candente Gold is creating a growth strategy encompassing its Mexican assets to build a cash flowing business. Recent acquisition of the SDA Plant and the El Dorado Historic Mines is the first step. Their growth strategy is to build a cash flowing business platform and gain access to properties with near surface exploration potential while maintaining El Oro as its flagship asset, and an integral part of the overall growth strategy. El Oro is a district scale gold project encompassing a well-known prolific high-grade gold-silver epithermal vein system in Mexico that has several undeveloped veins and has tremendous exploration potential. Click Here for More Info

LONDON (Reuters) – Gold’s rally has halted just below $2,000 an ounce partly due to fierce technical resistance, but an eventual break above that level is likely, freeing prices for more record highs, technical analysts said.

The gold price XAU= has surged 30% this year to an all-time peak around $1,975 an ounce and is one of 2020’s best-performing assets.

The rally was driven by a belief that gold will hold its value better than other assets as fallout from COVID-19 ripples through the global economy.

Central bank stimulus has pushed inflation-adjusted U.S. bond yields to record lows, making non-yielding gold more attractive, and the dollar has weakened sharply, making bullion cheaper for buyers with other currencies.

The never-before-reached $2,000-an-ounce mark is a major psychological resistance level, with gold’s 49-year trend channel resting just below it at $1,983, said Commerzbank technical analyst Karen Jones.

Only an end-of-month or, better yet, end-of-quarter close above these levels will signal a break from the channel, she said.

“Tighten your stops … unless the top of my range is taken out in a convincing manner … upside from here is marginal.”

Graphic – Gold’s long-term channel: here

Technical analysts seek patterns and signals in price charts which allow them to predict and interpret moves. Traders and automated trading systems also take prompts from technical signals.

Because gold’s rally has been so fast, a downward correction is likely and could be brutal, analysts said, before the market attempts another stab higher.

Early support is coming in around its 20-day moving average, at $1,875, and the bottom of its 4-month uptrend, around $1,830.

Below that is more powerful support at the 20-week moving average, currently at $1,755, said Tom Pelc, an independent technical analyst formerly at Nomura and RBS.

Graphic – Gold technical support: here

Such a fall wouldn’t necessarily doom the longer-term uptrend.

“We continue to see this improving volatility backdrop, so there’s no sign that the long-term trend is changing,” said Richard Adcock, a former UBS and now independent technical analyst.

“The market can carry on higher than people expect,” he said.

Graphic – Gold price volatility: here

If resistance is broken, Fibonacci extensions offer short-term targets. These are based on the idea that a rally will extend in predictable proportions extrapolated from a previous rally. One is at $2,067, said Pelc, another comes in at $2,286.

Graphic – Gold fibonacci extension: here

That could only be the beginning of a multi-year move. Lucas ratios — a tool using a sequence of numbers similar to Fibonacci’s — suggest gold could rise to $3,598.80 an ounce in 4-5 years, said Pelc.

Reporting by Peter Hobson; Editing by Veronica Brown and Emelia Sithole-Matarise

https://www.kitco.com/news/2020-08-04/Gold-s-mega-rally-faces-2-000-hurdle-but-for-how-long.html

Vale’s Canada Mines Set For More Battery-Electric Vehicle Trials SPONSOR: Lomiko Metals $LMR.ca $CJC.ca $SRG.ca $NGC.ca $LLG.ca $GPH.ca $NOU.ca

Posted by AGORACOM-Eric at 1:25 PM on Friday, June 12th, 2020

SPONSOR: Lomiko Metals is focused on the exploration and development of minerals for the new green economy such as lithium and graphite. Lomiko has an option for 100% of the high-grade La Loutre graphite Property, Lac Des Iles Graphite Property and the 100% owned Quatre Milles Graphite Property. Lomiko is uniquely poised to supply the growing EV battery market. Click Here For More Information

  • These trials will help steer business investment decisions in future years
  • The benefits from trials so far include:
  • Health and safety improvements for employees underground: EVs are much quieter than diesel vehicles and produce less heat and zero exhaust emissions. “From an operator comfort perspective, EVs are certainly an improvement,”
  • Cost savings: EVs can reduce underground ventilation demands and the associated operating and capital expenditure
  • Environmental benefits: EVs contribute to the reduction of greenhouse gas emissions.

By the end of 2020, Vale hopes to have upward of 20 battery-powered vehicles operating within its North Atlantic operations, according to Alex Mulloy, Mining Engineer within Vale’s Base Metals Technology and Innovation division.

The plan is for the electric vehicles (EVs) to be operating on a trial basis at its Creighton, Coleman, Copper Cliff, Garson and Thompson mines by the end of the year, with the company having already made significant headway on achieving this goal.

Vale is aligned with the Paris climate-change agreement, and committed to being carbon neutral by 2050, with a 33% cut in greenhouse gas emissions planned across the company by 2030. This is part of a strategy to invest at least $2 billion to combat climate change, which includes the use of battery-electric vehicles.

Vale has already tested Rokion’s battery-powered personnel carriers/utility vehicles at Creighton, while an Epiroc ST7 battery-powered vehicle and Artisan Z40 haul truck have been trialled underground at Coleman.

Mulloy said the green vehicles are going to be evaluated with feedback from operations, as well as operating data, to help Vale understand how they perform in terms of reliability, functionality and the benefits they can offer our people and the business.

The benefits from trials so far include:

  • Health and safety improvements for our employees underground: EVs are much quieter than diesel vehicles and produce less heat and zero exhaust emissions. “From an operator comfort perspective, EVs are certainly an improvement,” Mulloy said;
  • Cost savings: EVs can reduce underground ventilation demands and the associated operating and capital expenditure; and
  • Environmental benefits: EVs contribute to the reduction of greenhouse gas emissions.

“EVs certainly complement the efforts of the business in terms of greenhouse gas and carbon reduction,” Mulloy said. “It’s a great technology. Not only does it enable operational benefit and improvement, it also contributes to our greater goals of reducing our emissions and the impact on the environment.”

Natalie Kari, Principal Engineer, Strategic Electric Vehicle Implementation, said: “Exhaust emissions from diesel engines are one of the larger contributors to environmental pollution. EVs are an opportunity to increase safety by improving operating conditions and creating a safe work environment. Reducing noise, vibrations, heat, greenhouse gas emissions, and diesel particulate matter, while improving air quality, contributes to creating an attractive work environment for top talent.

“With increased challenging mine conditions at depth, EVs also provide an opportunity to sustain productivity by enabling mines to produce in areas that otherwise may not be feasible without these benefits, contributing towards mining for years to come.”

These trials will help steer business investment decisions in future years, according to Mulloy.

“Over the coming months, a number of large prime mover vehicles will be delivered,” he said. “When those vehicles arrive, it will be an exciting step in the journey because most of the question marks around the performance of EVs relate to the large vehicles, so that’ll be a chance for us to really put this technology to the test.”

Kari added: “Our company’s next major steps include collaborating with internal and external industry stakeholders towards safe implementation, comprehensive trial data collection and validation of a robust model towards a final approved five-year implementation strategy. With any new technology, investment in our people will be a priority to ensure they are equipped with the tools necessary for successful operation and maintenance.

“It is thrilling to be a part of leading this effort in a time of increased innovation and environmental awareness,” she continued. “The movement from traditional diesel to electric vehicle brings a feeling of social pride in creating a healthier workplace.”

SOURCE: https://im-mining.com/2020/06/11/vales-canada-mines-set-battery-electric-vehicle-trials/

AGORACOM Clients Attending PDAC 2020 $AFF.ca $AMK.ca $HPQ.ca $LMK.ca $NAM.ca

Posted by AGORACOM-JC at 4:32 PM on Friday, February 28th, 2020
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AGORACOM Clients Attending PDAC 2020
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THE REGAL PROJECT

B.C.’s Next Premier

Silver, Lead, Zinc, Copper Deposit?

Affinity Metals holds under option, a 100% interest in the Project, located within the northern end of the prolific Kootenay Arc, a highly prospective mineralized trend.

HIGHLIGHTS:

  • Massive geophysical targets for 2020
  • Past production
  • Historical reserves (non-43-101)
  • Access from Hwy 1 near Revelstoke

Booth Number 2751

Hub On AGORACOM

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Treaty Creeks’ GOLDSTORM zone hosts a conceptual volume of ONE BILLION TONNES rock grading close to one gram per tonne gold and is open to the north, east, and at depth.  

A major drill program is being planned for spring to develop a resource calculation. The focus has been on the gold enriched Goldstorm Zone which is on trend with, and part of, the same geological system as Seabridge Gold’s neighboring KSM deposits.

American Creek been selected to do a formal presentation at the conference. The presentation will be held on Tuesday, March 5 at 2:00PM in room #802

Booth Number 2351

Hub On AGORACOM

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Hpq large

HPQ Silicon Resources designs, develops, manufactures and commercializes plasma base processes

The innovative PUREVAP “Quartz Reduction Reactors” (QRR), will permit the One Step transformation of Quartz (SiO2) into High Purity Silicon (Si) at prices that will promote considerable renewable energy potential.

Booth Number 2145

Hub On AGORACOM


High Grade Flake Graphite

Lomiko hosts high-grade graphite at its La Loutre Property in Quebec. The company is working toward a Pre-Economic Assessment (PEA) that will increase its current indicated resource of 4.1 Mt of 6.5% Cg to over 10 Mt of 10%+ Cg in order to supply and develop graphite materials for the green economy.

Booth Number 2547

Hub On AGORACOM


New age large

River Valley Project is North America’s Largest Undeveloped Primary Platinum Group Metals (PGM) Deposit

Highlights:

  • 2.9 Million Ounces Palladium Equivalent in Measured plus indicated including an additional 1.1 Million Ounces Palladium Equivalent in Inferred
  • Positive PEA showing open pit potential with a life of mine of 14 years and annual average payable Palladium Equivalent production of 119,00 ounces
  • Life of mine average operating cash costs of US$709/Oz.
  • World class metallurgical facilities 100 km’s from project
  • To date the deepest drill hole was <600m, significant potential for more ounces located at depth
  • Average drill depth is 220 metres

Booth Number 2619B

Hub On AGORACOM

INTERVIEW: “The Gold Standard Of Gold Research” Publisher, Ronnie Stoeferle, Appointed To Affinity Metals $AFF.ca $SII.ca $TUD.ca $GTT.ca $AMK.ca $OSK.ca

Posted by AGORACOM-JC at 9:36 AM on Wednesday, October 23rd, 2019

When the Wall Street Journal calls your Gold Report “The Gold Standard Of Gold Research”, it is safe to say you are a global influencer and expert in all things gold.

This is Ronnie Stoeferle, whose “In Gold We Trust” report has also been downloaded 1.8 million times in English, German and Mandarin in case anyone had any doubt as to his expertise.

Today, Ronnie became the founding member of the Affinity Metals (AFF:TSXV) Advisory Board, which implies that we can expect others to be appointed as well. Why would Ronnie join a company with a market cap under $5,000,000?  You’ll have to watch the interview to find out … but here are a couple of hints:

1.  Affinity Metals flagship project, the Regal, has reported HISTORICAL reserves of 590,703 tonnes grading 71.6 grams per tonne silver, 2.66 per cent lead, 1.26 per cent zinc, 1.1 per cent copper, 0.13 per cent tin and 0.015 per cent tungsten.  These were prepated prior to 43-101 standards and should not be relied upon until they are brought into compliance with 43-101 standards. 

2.  A Technical Report, which was prepared in 1971 using a silver price of $1.75 per troy ounce, makes a positive recommendation for production, including the establishment of a 500 ton per day concentrator with a 400 ton per day silver, lead and zinc circuit and a 100 ton per day tin, tungsten and copper circuit.

These are just 2 factors that led Ronnie to declare that Affnity Metals is “one of the largest investments in my private portfolio”.

Grab your favourite beverage, kick back and watch this great interview with both Ronnie and Affinity CEO, Rob Edwards.

Advance Gold $AAX.ca – Begins Second Phase Geophysical Survey to Expand Large and Continuous Chargeability Anomaly $SIL.ca $FA.ca $ANG.jo $ABX.ca $NGT.ca $MGG.ca $TECK.ca

Posted by AGORACOM-Eric at 10:10 AM on Thursday, October 10th, 2019
  • Previous drilling found a network of veins with widespread gold and silver mineralization.
  • The first phase geophysical survey revealed a large chargeability anomaly right below these veins.
  • The anomaly is quite large, allowing AAX to expand the grid to the south with fewer lines so we expect to complete this survey within 2 weeks and then begin drilling
  • 12 miles to the west is the San Nicolas VMS mine owned by Teck Corporation and 12 miles to the south is the El Coronel open pit gold mine located in the same geological environment as the Tabasquena project.

Kamloops, British Columbia–(Newsfile Corp. – October 10, 2019) – Advance Gold Corp. (TSXV: AAX) (“Advance Gold” or “the Company”) is pleased to announce that the second phase of geophysics is underway on the Company’s Tabasquena project in Zacatecas, Mexico. The goal of this second 3D induced polarization (IP) survey is to expand the grid completed in the first phase to the south where the anomaly comes closest to surface.

The first phase survey identified a large continuous chargeability anomaly just below an area of widespread gold and silver mineralization in epithermal veins. The anomaly is approximately 250 metres wide and 800 metres long from north to south. The second phase IP survey will extend the grid approximately 1000 metres to the south where due to the elevation change the anomaly is closest to surface. The chargeability anomaly remains open to the north, south and at depth.

An IP survey is a geophysical imaging technique used to identify the electrical chargeability of subsurface materials such as ore. The technique involves the measurement of the slow decay of voltage in the ground following the cessation of an excitation current. The method makes use of the capacitive action of the subsurface to locate zones where chargeable minerals are present. Disseminated sulphides and other chargeable minerals have distinct IP signatures.

It is important to note that approximately 12 miles to the west is the San Nicolas VMS mine owned by Teck Corporation and 12 miles to the south is the El Coronel open pit gold mine located in the same geological environment as the Tabasquena project.

Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “It’s a very exciting time for Advance Gold, previous drilling found a network of veins with widespread gold and silver mineralization. Following this the first phase geophysical survey revealed a large chargeability anomaly right below these veins. Another impressive aspect of the first IP survey is that as we move to the south there is a decrease in the depth to the IP anomaly that would indicate that the anomaly is getting nearer to the surface as we move to the south. A possible reason for this is that the elevation decreases as we go southward, so it is important for us to extend the IP grid to the south before we drill test the IP anomaly. In our recent news release announcing the addition of our geophysical advisor, he described the anomaly as ‘quite remarkable in its size and continuity.’ As the anomaly is quite large, we are able to expand the grid to the south with fewer lines so we expect to complete this survey within 2 weeks and then begin drilling. We are in a region with very large mines, including El Coronel which is an open pit mine in production since 2008 which is 12 miles to the south of Tabasquena. Our team looks forward to further advancing the Tabasquena project with the second phase of geophysics and upcoming drilling.”

Julio Pinto Linares is a QP, Doctor in Geological Sciences with specialty in Economic Geology and Qualified Professional No. 01365 by MMSA., and QP for Advance Gold and is the qualified person as defined by National Instrument 43-101 and he has read and approved the accuracy of technical information contained in this news release.

About Advance Gold Corp. (AAX.V)

Advance Gold is a TSX-V listed junior exploration company focused on acquiring and exploring mineral properties containing precious metals. The Company acquired a 100% interest in the Tabasquena Silver Mine in Zacatecas, Mexico in 2017, and the Venaditas project, also in Zacatecas state, in April 2018.

The Tabasquena project is located near the Milagros silver mine near the city of Ojocaliente, Mexico. Benefits at Tabasquena include road access to the claims, power to the claims, a 100-metre underground shaft and underground workings, plus it is a fully permitted mine.

Venaditas is well located adjacent to Teck’s San Nicolas mine, a VMS deposit, and it is approximately 11km to the east of the Tabasquena project, along a paved road.

In addition, Advance Gold holds a 13.23% interest on strategic claims in the Liranda Corridor in Kenya, East Africa. The remaining 86.77% of the Kakamega project is held by Barrick Gold Corporation.

For further information, please contact:

Allan Barry Laboucan, President and CEO 
Phone (604) 505-4753
www.advancegold.ca

Advance Gold $AAX.ca Gold Prices Shoot Higher After ISM Service Sector Drops Sharply in September $SIL.ca $FA.ca $ANG.jo $ABX.ca $NGT.ca $MGG.ca

Posted by AGORACOM-Eric at 1:52 PM on Thursday, October 3rd, 2019

SPONSOR: Advance Gold AAX.v – Advance Gold controls 100% interest in the Tabasquena Silver Mine in Zacatecas, Mexico. A cluster of 30 Epithermal veins have been discovered, with recent emphasis on exploring a large anomaly to drill. Advance also owns 15% of the Kakamega JV attached to Barrick Takeover Offer for Acacia Mining. Click Here For More Info

Recession fears are once again gripping financial markets and pushing gold prices higher as sentiment within the U.S. service sector fell more than expected, according to the latest data from the Institute for Supply Management (ISM).

Thursday, the ISM said its nonmanufacturing index showed a reading of 52.6% for September, down from August’s reading of 56.4%. The data was much weaker than expected as consensus forecasts were calling for a reading of 55.1%.

According to reports this is the lowest reading in three years.

Readings above 50% in such diffusion indexes are seen as a sign of economic growth, and vice-versa. The farther an indicator is above or below 50%, the greater or smaller the rate of change.

Ahead of the report, the gold market was holding its own above $1,500 an ounce, recovering from a 2% selloff at the start of the week. The latest economic data has added to gold’s gains. December gold futures last traded at $1,518.80 an ounce, up 0.72% on the day.

Economists and analysts warned that disappointing service sector data could boost recession fears as this is the largest component of the U.S. economy.

The nonmanufacturing data comes just two days after the ISM said that its manufacturing index fell even further into contraction territory, also missing economist expectations.

“The non-manufacturing sector pulled back after reflecting strong growth in August. The respondents are mostly concerned about tariffs, labor resources and the direction of the economy,” said Anthony Nieves, chair of the ISM Non-Manufacturing Business Survey Committee.

Looking at the components of the report, the Business Activity Index dropped to a reading of 55.2%, down from August’s level of 61.5%.

The labor market also lost some momentum in September, with the Employment Index falling to 50.4%, down from August’s level of 53.1%. This indicator is closely watched by economists as it is used as a predictor for Friday’s nonfarm employment report.

Some economists have noted that the miss in the ISM employment data points to downside risk to Friday’s employment report.

Source: By Neils Christensen

Advance Gold $AAX.ca – Additional Drilling and Geophysics planned at Tabasquena #Epithermal Project $SIL.ca $FA.ca $ANG.jo $ABX.ca $NGT.ca $MGG.ca

Posted by AGORACOM-Eric at 9:19 AM on Wednesday, September 18th, 2019

Kamloops, British Columbia–(Newsfile Corp. – September 18, 2019) – Advance Gold Corp. (TSXV: AAX) (“Advance Gold” or “the Company”) is pleased to provide an exploration update on its Tabasquena gold and silver project in Zacatecas, Mexico. To date, 10 drill holes have been completed hitting widespread gold and silver mineralization in near surface epithermal veins. Recently, a 3D induced polarization (IP) survey was completed that identified a significant continuous chargeability anomaly, with an east-west width of approximately 250 metres and an apparent strike length of over 800 metres. This anomaly is located directly below the Tabasquena vein. The anomaly remains open to the north and to the south and at depth. A second phase 3D IP geophysical survey is scheduled to begin in the first week of October to extend the grid to the south.

The purpose of the extended grid to the south will be threefold, firstly it will establish the continuity of the anomaly to the south, secondly whether or not the target anomaly becomes shallower and lastly it will assist in positioning the upcoming drill hole locations. It is planned to commence drilling once the IP survey has been completed.

Images shown below are a 3D model of the epithermal veins hit in previous drilling and a voxel inversion model showing the extent of the large chargeability anomaly for lines L7450N and L7250N. These two diagrams are an excellent representation of the emerging targets at Tabasquena.

The black line at the surface of the 3D model of drill holes is the surface projection of the Tabasquena vein. The red shaded area is the historical mining done by Penoles. The chargeability anomaly is approximately 250 metres below the historical mining, and it follows the strike direction of the Tabasquena vein. The epithermal veins, with highlighted widespread gold and silver mineralization, are above and slightly to the west of the deeper chargeability anomaly.

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Diagram 1

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Diagram 2

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Allan Barry Laboucan, President and CEO of Advance Gold Corp., commented: “Our exploration efforts at Tabasquena are coming together nicely with the past drilling and the recent IP geophysical survey. It is important to point out, the IP survey is meant to reveal sulphides through chargeability. The epithermal veins are low sulphidation and relatively small and don’t show up well in the IP survey, however right below these veins is the large continuous chargeability anomaly of over 800 metres from north to south and approximately 250 metres from east to west. Before starting our next round of drilling, we wanted to extend the IP grid to the south, where the anomaly is closer to surface. There is a significant elevation change of approximately 300 metres from the northernmost line of the geophysical survey to the most southerly one. We have approximately 1500 metres to the southern limits of our claims. The chargeability anomaly is open to the north, but due to the higher elevation and more cover it exceeds the depth limits of the IP survey. We are very excited to extend the grid to the south as that is the direction of the highest intensity of the chargeability and where it becomes closest to surface. The combination of the quality of Tabasquena and our various projects, our low share count and a tight share structure, with substantial insider ownership and tiny valuation, puts us in a unique position relative to our exploration focused peers as the market for gold and silver are gaining strength.”

Julio Pinto Linares is a QP, Doctor in Geological Sciences with specialty in Economic Geology and Qualified Professional No. 01365 by MMSA., and QP for Advance Gold and is the qualified person as defined by National Instrument 43-101 and he has read and approved the accuracy of technical information contained in this news release.

About Advance Gold Corp. (AAX.V)

Advance Gold is a TSX-V listed junior exploration company focused on acquiring and exploring mineral properties containing precious metals. The Company acquired a 100% interest in the Tabasquena Silver Mine in Zacatecas, Mexico in 2017, and the Venaditas project, also in Zacatecas state, in April, 2018.

The Tabasquena project is located near the Milagros silver mine near the city of Ojocaliente, Mexico. Benefits at Tabasquena include road access to the claims, power to the claims, a 100-metre underground shaft and underground workings, plus it is a fully permitted mine.

Venaditas is well located adjacent to Teck’s San Nicolas mine, a VMS deposit, and it is approximately 11km to the east of the Tabasquena project, along a paved road.

In addition, Advance Gold holds a 13.23% interest on strategic claims in the Liranda Corridor in Kenya, East Africa. The remaining 86.77% of the Kakamega project is held by Barrick Gold Corporation.

For further information, please contact:

Allan Barry Laboucan,
President and CEO

Phone: (604) 505-4753
Email: [email protected]