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Candente Copper is developing the large scale Cañariaco Norte copper deposit located in Northern Peru. The deposit contains Measured and Indicated Resources totalling 752.4 million tonnes grading 0.45% copper, 0.07 g/t gold and 1.9 g/t silver (0.52% Cu equivalent) containing 7.533 billion pounds of copper, 1.7 million ounces of gold and 45.2 million ounces of silver. In addition, the deposit contains 157.7 million tonnes of Inferred Resources containing 1.434 billion pounds of copper.
The Pre-Feasibility Study Progress Report completed on Cañariaco Norte by AMEC Americas Ltd in March 2011 concludes that with a projected annual production of 262 million pounds of copper, 39,000 ounces of gold, and 911,000 ounces of silver over a mine life of 22 years, the Cañariaco Norte project has an after-tax Net Present Value of US$912M, Internal Rate of Return of 17.2%, and payback period of 4.4 years using a long term copper price reverting to US$2.25/lb and a discount rate of 8%.
A second mineralized copper porphyry, Cañariaco Sur, has now been discovered adjacent to the Cañariaco Norte deposit. Candente has delineated a significant copper, gold and silver mineralization zone which extends for a minimum of 700 meters by 500 meters and is still open in all directions.
There is also excellent evidence that exists for presence of a third porphyry deposit at the Quebrada Verde target, both of which offer the potential to significantly expand the scope of the Cañariaco copper project.
Candente's Management Team and Board of Directors are comprised of senior mining industry executives who have a track record in the discovery and development of major mining projects. Candente subscribes to principles which ensure that exploration and development activities are consistent with best practice and beneficial to the local communities.
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