Candorado Operating Company Ltd.

Candorado Operating Company Ltd.

October 16, 2007 09:05 ET

Candorado Discovers New Copper Sulphide Zones on Deer Lake Property Near Little Fort, South Central, B.C.

KELOWNA, BRITISH COLUMBIA--(Marketwire - Oct. 16, 2007) - Candorado Operating Company Ltd. (the "Company") (TSX VENTURE:CDO) (FRANKFURT:HQU) (BERLIN:HQU) is pleased to announce discovery of several new copper sulphide zones on the Deer Lake Property, located 28 kilometers by road from Little Fort. As reported in the Company's news release dated April 30, 2007, sampling of one of several mineralized boulders by Rob Shives, GamX Inc., returned 3.8% copper, 9.89 g/t gold and 25 g/t silver. Historic samples of similar material in the area have returned up to 14.9 g/t gold. A detailed ground magnetic survey designed to locate the bedrock sources of these boulders has delineated several strong east-west trending magnetic highs over 1.5 kilometers. Trenching of one of these magnetic anomalies has exposed bedrock sulphide zones within 50 meters of the mineralized boulders. The first drill hole of the 2007 Program (DL07-01) intersected chalcopyrite-pyrrhotite-magnetite mineralization 30 meters beneath this trench. A second hole is currently being drilled to test the zone at greater depth. Excavation of other magnetic anomalies has resulted in discovery of additional copper sulphide and magnetite-rich zones, which will also be drill tested.

The Company has installed a core logging and sampling facility in Little Fort to support this work, Analytical work will be completed by Eco Tech Labs, Kamloops. Exploration the Deer Lake property is being conducted under the supervision of W. Gruenwald, P. Geo of Geoquest Consulting Ltd. a qualified person as defined by National Instrument 43-101.

About Candorado

Candorado is a B.C. based mineral exploration Company with extensive mineral tenures in Central, Northern and Southern British Columbia. The Company is in the midst of several exploration projects involving geochemical and geophysical programs as well as drill testing high priority targets and will report on results as soon as they are available.

ON BEHALF OF THE BOARD OF DIRECTORS of Candorado Operating Company Ltd.

Rene Bernard, CEO

The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this Release.

Contact Information

  • Candorado Operating Company Ltd.
    Daniel Gallagher
    (250) 979-2595
    (250) 860-2950 (FAX)