Candente adds land in central Nfld.

Vancouver — Candente Resource (DNT-V) has inked a deal to acquire an option to purchase a 100% interest in the Eastern Pond property in the Botwood Basin gold area of Central Newfoundland.

Candente now holds a total of 143 claims in the Eastern Pond Area, 78 directly by staking and 65 under option from the KriASK Syndicate of Newfoundland. Previous exploration results on the Pond property include grab sample assays of 23 grams gold per tonne and 5.27 grams gold per tonne and a 1-metre chip sample that returned 0.8 gram gold. Grab samples taken from a silicified zone returned 1-2 grams gold.

Many alteration features and geochemical signatures found to date in the Botwood Basin area are reported to be consistent with a Carlin mineralization environment. These include: extremely silicified sedimentary rocks, jasperoids, quartz breccias and disseminated sulphides in shales as well as anomalous arsenic levels.

The company states that they picked up the properties on the recommendation of Larry Kornze, who recently retired as exploration manager for Barrick Gold (ABX-T) and was involved in the discovery of over 40 million oz. of gold in the Carlin trend of Nevada.

Candente states that on its adjacent claims, float samples returned assays as high as 10.8 grams gold per tonne. In addition bedrock samples grading up to 2.7 grams gold were found anomalous levels of gold-in-soils were discovered to be as high as 1.4 grams gold.

According to the option agreement, Candente is required to make cash payments totalling $139,240; issue a total of 228,000 common shares and spend a total of $756,600 in exploration over the next five years. The option is subject to a 2.5% net smelter royalty, which may be reduced to 0.5% if Candente make certain payments.