Candorado Operating Company Ltd.

Candorado Operating Company Ltd.

November 26, 2007 14:19 ET

Candorado Completes Drilling on Deer Lake Property, Little Fort, B.C.

KELOWNA, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2007) - Candorado Operating Company Ltd. (the "Company") (TSX VENTURE:CDO) (BERLIN:HQU) (FRANKFURT:HQU) is pleased to announce that it has successfully completed a 10 hole drill program totaling 1,290 metres on the Deer Lake property located 28 kilometres by road from Little Fort. The objective of the program was to test several new and historic mineralized zones within an area where a ground magnetic survey delineated several east-west trending magnetic anomalies. Mineralized zones identified by past and current exploration within the magnetic "trend" are referred to as the Lightning, Road, Shaft, Red and Rio.

As previously reported (October 16, 2007) drill hole DL07-01 intersected chalcopyrite-pyrrhotite-magnetite mineralization 30 metres below surface. This mineralization represents the down-dip extension of the Lightning Zone that was recently discovered by trenching a strong magnetic anomaly within 50 metres of large float boulders containing up to 4% Cu and 14.9 g/t Au.

Trenching has proven very useful in that it often penetrated through the glacial overburden that covers much of the property and surrounding region. Thus far trenching has been directly responsible for the discovery of the Lightning, Road and Shaft Zones. Surface sampling results have been received from two trenches. These are located approximately 20 metres apart on the Lightning Zone and yielded the following:

Trench Width Gold Copper
No. (m) (g/t) (%)
DTR1 5.60 1.29 0.54
3.30 0.79 0.44
DTR6 4.40 0.48 0.42
4.50 0.89 0.32

Sulphide mineralization was also encountered in trench DTR3 approximately 35 metres east-southeast of Trench DTR1. Surface work thus far indicates this zone is open along strike.

Significant sulphide and magnetite mineralization and skarn alteration was encountered in most of the 2007 drill holes. Mr. Gerry Ray, P.Geo who has extensive experience related to skarn type mineral deposits recently visited the property concluded that "the variety and wide extent of its numerous mineral showings demonstrate that the Deer Lake property is a highly prospective area for porphyry, skarn and manto deposits." Mr. Ray recommends a 2008 program to trace the extensions of the newly discovered mineralized zones and search for other en-echelon zones elsewhere on the property.

Results for the 2007 program will continue to be released as they become available. Surface and core samples have been submitted to Eco Tech Labs in Kamloops for gold and multi-element analysis. Quality assurance and quality control (QA/QC) included the insertion of analytical standards and blanks in addition to the laboratory's internal QA program. Copper and gold values exceeding 10,000 ppm and 1,000 ppb (1 g/t) respectively were assayed.

Exploration on 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) 979-2590
    (250) 860-2957 (FAX)