Candente Gold Corp. is pleased to advise that the Company has signed the Definitive Agreement (signed April 28th, 2020) with Magellan Acquisition Corp. which gives Candente Gold the right to earn up to a 100% interest in the San Dieguito de Arriba beneficiation plant and take over their rights to a lease agreement on the El Dorado Property, both located in Nayarit State, Mexico.
Ranjeet Sundher, CEO, remarks “Brigadier’s multi-talented team has raised $4.2 million and advanced the Picachos property from acquisition to drilling in a relatively short period of time and we look forward to keeping our shareholders updated as drill assay results are received. We are fortunate that Brigadier’s core leadership now includes Michelle Robinson who together with her team, residing in Sinaloa, are intimately familiar with Picachos, the local community, and how to shape a sustainable and beneficial presence in the region.”
“The presence of three styles of mineralization: (1) disseminated or massive sulphide-style mineralization adjacent to (2) the structurally controlled Pb-Zn-Ag-Au hydrothermal breccia and (3) high-grade Au-Ag low sulphidation mineralization, reinforces the potential for large-scale mining at Plomosas, in areas consisting of underground development completed by previous operators.”
Mexus’ ball mill gravity recovery system is nearing completion and is expected to be operational by October 15th. This system will add value to the already existing heap leach gold recovery process. The company will continue to review all options at both the Santa Elena project and the company’s Mabel property.
“Europa-Guadalupe is just one of many newly identified mineralized veins discovered through our Phase I drilling and we are simultaneously drilling the Promontorio vein. Initial Promontorio results will be released shortly.”
The exploration/drill program includes up to 10,000 metres of core drilling in 20 to 25 holes which will focus on the development of mineral resources on the east side of the Cerro through step-out drilling from previously identified high-grade, strongly silver-enriched mineralization in the Mina La Bocona and South Skarn target areas.
“The review of prior exploration reports and drill results from 2010-2013, identified 8 targets for potential satellite mineralization around the main Bilbao deposit, two of which stand out with high grade silver potential and therefore merit drilling, especially with the much improved outlook for silver prices, approaching the US$30 per ounce level used in the 2014 RPM PEA.”
“We’re extremely encouraged with our initial drilling results at Salomon-Favor to see four stacked zones of wide mineralization starting from surface,” said Brad Langille, President and CEO.
“I’d be surprised if there are many exploration companies with a small $2 million market value which hold a 100 percent interest in a 5,000 hectare gold-silver exploration property where mineralization is sampled ubiquitously over a large 15 square kilometre area, has undergone two prior successful drill programs and a senior company review leading to the intention to drill over 100 drill targets, and is imminently drill ready.”
The current work program has been focused on the eastern and northeast part of the project covering an area that was previously unexplored by the Company. The area of coverage includes the recently acquired, and previously underexplored, El Tule claim.
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