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Gold/Mining/Energy : Corner Bay Silver (BAY.T) -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (3983)	5/1/2002 8:12:53 PM
From: russet	Read Replies (1) \| Respond to of 4409

NFLD,...Botswood Basin,... Don't forget Candente,..DNT.v,..ex Barrick exploration manager is on the board and very knowledgeable of Carlin type deposit. Good land position. Good surface gold showings :-)) Candente turns up 10 gold showings at Linear property Candente Resource Corp DNT Shares issued 9,240,000 Apr 17 2002 close $.320 Thursday Apr 18 2002 News Release Ms. Joanne Freeze reports GOLD SHOWINGS ON BOTWOOD BASIN PROPERTY Candente Resource has provided the following update on the Linear property, central Newfoundland. The property is located in the Botwood basin, currently the focus of several exploration companies and recently recognized as similar to Nevada's Carlin trend (where 20 mines have produced a total of 50 million ounces of gold). The Linear property is well positioned along a five-kilometre-long gold-bearing structure in the centre of current activity. The western side of the property is contiguous with the northeasterly striking Mustang epithermal (Carlin-like) gold trend currently being explored by Barrick Gold with Altius Minerals. Properties to the east and northeast of Candente's Linear property are held and being explored by other companies. Prior to the recognition of Carlin-Nevada-style alteration and Barricks's involvement in the area, significant gold mineralization was found at 10 locations on the Linear property. Prospecting initially turned up visible gold in quartz boulders along a northeasterly structure. Additional exploration, prospecting, trenching and diamond drilling, exposed the 10 gold showings, which occur over a two-kilometre strike length and 1.2-kilometre width. Five of the showings contain visible gold. Gold mineralization varies from narrower zones with higher grades such as 93.6 grams per tonne over one metre and 15.36 g/t over 2.7 metres to wider zones of four to five metres grading two g/t to four g/t, and up to seven metres grading one g/t to two g/t. One of the more impressive showings, the Dome, is described as a blowout of brecciated quartz veins carrying abundant visible gold. A seven-metre-by-10-metre area tested by four orthogonal channel samples, gave an uncut grade of 42.9 g/t Au. To date 10 individual veins have been noted to carry visible gold within the trenched area. The visible gold showings all occur on the east side of the main northeasterly structure, the Appleton Linear. On the west side of the structure, microscopic gold occurs with sulphides including pyrite, arsenopyrite and minor bladed stibnite. Exploration on the Linear property will be overseen by Larry Kornze, Candente's director of business development. Mr. Kornze has extensive experience in the Carlin trend of Nevada as former exploration manager for Barrick Gold and was instrumental in the Goldstrike mine discoveries (2.4 million ounces produced in 2000). Fieldwork will be carried out to a large extent by Kevin and Allan Keats of A.S.K. Prospecting and Guiding Inc., who are responsible for many of the gold showings found over the past 15 years in central Newfoundland (Botwood area) and on the Linear property. Management continues to be extremely pleased with exploration results in Peru and an update on the Luna property will be issued in the near future.