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The Las Sorpresas property covers 2,827 hectares and is located just south-south-east of the Yanacocha deposits held by Buenaventura and Newmont. Nine separate deposits have been discovered to date at Yanacocha and reserves are reported to be in the order of 35 million ounces of gold. The Yanacocha deposits are high sulphidation epithermal gold deposits occurring within a mid to late Miocene dome field and associated volcaniclastic rocks. Structural controls are north-easterly and noirth-westerly. Copper mineralization occurs at depth below the gold deposits. Reconnaissance geological mapping and a preliminary stream sediment sampling survey have been conducted over the property. Levels of gold are highest (189 to 789 parts per billion) towards the centre of the property indicating a potential gold source within Las Sorpresas. Anomalous levels of mercury occur in soils also near the centre of the property. Mercury is one of the exploration tools used to discover buried gold zones at Yanacocha. The property is underlain by siliceous tuffs belonging to the Calipuy Formation which are similar to those hosting the Yanacocha deposits. Several circular,semi-circular and domal features have been identified on the northern end of the claims. North-easterly structures crosscut the property. Argillic alteration at the northwestern end of the property is believed to be part of the system that hosts one of the Yanacocha deposits. Rock samples from this area contain strongly anomalous values of mercury (3000 to >5000 ppb). Opalized and brecciated feldspar porphyry containing both early and late stage opal, likely represents the shallow portions of an epithermal system. In other parts of the property, stream sediment samples are anomalous in gold, mercury, arsenic and lead. In 2004 Candente entered into an Option Agreement with Orex Ventures Inc. ("Orex") on the Las Sorpresas property. Orex has the right to earn a 51% interest in the property by incurring exploration expenditures of US$2.5 million over 3.5 years. Geophysics is in progress to assist in the delineation of buried targets. Michael Casselman, M.Sc., P.Geo., General Manager Exploration and Director of Candente and Joanne C. Freeze P. Geo. President, are the qualified persons (QP's) as defined by National Instrument 43-101 for the Las Sorpresas project. Maps
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