Agoracom Blog

VIDEO: Candente Copper $ Announces New Deposit of 2.2Billion Pounds of Copper and 1.2Million Ounces Gold

Posted by AGORACOM at 12:21 PM on Thursday, February 3rd, 2022

TSX listed Candente Copper owns Canariaco Norte, a large, economic copper deposit in Peru that continues to advance technically and economically toward a sale or production decision. A 2022 Preliminary Economic Assessment (“PEA”) is nearing completion that will advance it further toward development

Now it has a sister deposit, Canariaco Sur located 2km away that could help advance developments much quicker.

Canariaco Sur contains 2.2 billion pounds of copper and 1.2 million ounces of gold in an inferred resource calculated with only 15 holes, demonstrating a considerable amount of metal.
Sur contains higher levels of gold and molybdenum than Cañariaco Norte, minimal arsenic levels and mineralization that starts at surface. Cañariaco Sur has the potential to add significant value to the resources at Cañariaco Norte, 2km to the northeast.

Cañariaco Norte is a 100% owned pre-feasibility-stage porphyry copper deposit containing 7.5B pounds Measured and Indicated and can be mined for 22 years once in production. Oh, and Canariaco Norte is in the lowest quartile of production costs for projects waiting to be developed at around 0.98c per pound of copper. If that doesn’t have your attention, the third party validation will, look at these partners supporting Candente in 4 research papers comparing various global copper projects in the last 4 years as it now moves 2 deposits toward development:

RFC Ambrian: Cañariaco Norte in top 10 of 23 projects with potential to involve third party M&A (December 2021)
Haywood: Cañariaco Norte is one of 18 assets selected as likely to be considered by majors looking to acquire (December 2021)
Deutsche Bank: Cañariaco Norte identified as one of 3 projects required to meet the upcoming copper supply-demand gap (February 2021)
Goldman Sachs: Cañariaco Norte identified with incentive copper price in the lowest quartile of the top 84 copper projects worldwide (October 2018)

Canariaco Norte is a deposit itching to become a mine and Candente continues to advance the project forward with studies evaluating various methodologies to reduce CAPEX with multiple scenarios that support developing Canariaco closer to a production scenario.

With the price of copper firmly above $4 dollars, the economics supporting Canariaco going into production only gets stronger, and now Canariaco has a sister deposit helping to expedite matters.
Watch this great interview with Candente CEO Joanne Freeze as walks through Canariaco Sur and the exciting new developments aiding the development of 2 exciting copper porphyry deposits.

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