Candorado Operating Company Ltd.
TSX VENTURE : CDO

Candorado Operating Company Ltd.

November 16, 2006 09:20 ET

Candorado Receives Results From 2006 Airborne Survey and Files Application for Drilling on Five Copper/Gold Porphyry Targets

KELOWNA, BRITISH COLUMBIA--(CCNMatthews - Nov. 16, 2006) - Candorado Operating Company Ltd. (TSX VENTURE:CDO) wishes to announce that it has recently received data on the 2006 multi-sensor (gamma ray spectrometer, total field magnetic, and VLF-EM) survey. The survey was conducted as a partnership among the Geological Survey of Canada, Geoscience BC and Candorado, as one of the industry partners.

The survey covered a large part of the Quesnel Trough one of Canada's most prolific copper/gold belts, hosting the Highland Valley, Mount Polley, Gibraltar and Kemess mines, among others.

Results:

The data received confirm targets of potential copper/gold mineralization on all three blocks surveyed. The desired signature is a high amount of potassium together with a low thorium/potassium ratio and certain magnetic features.

The most significant targets and largest in size are within the company's Rayfield River property, a known copper/gold porphyry, which has seen earlier exploration (including some 30 drill holes) by Amax Exploration and Brenda Mines Ltd. Several of the targets from the 2006 airborne survey are located to the south and north of these earlier exploration programs.

Candorado has requested Discovery Consultants of Vernon BC to verify geology and ground access. An application for a drill permit has been submitted for three areas on the Rayfield River property.

Many of the targets within the Rail Block (a joint venture with GWR Resources Inc.) and the Murphy Lake Block require further prospecting which cannot commence before spring. Based on a compilation of data from part of the Murphy Lake area that was done earlier this year, the company was able to view the new data in relation to earlier work. Two targets have been identified, directly to the west and south of historic drill hole ML 95/04, which returned 52 metres of 0.4% copper. An application for a drill permit has been submitted for these targets.

Candorado Operating Company Ltd. is a British Columbia based junior exploration company with mineral properties in British Columbia and Ontario. The key focus of the company is on the copper/gold porphyry potential within its 250,000 hectares of exploration properties in central BC.

Candorado's other properties include the Pitt Island volcanic massive sulphide property, the Serb Creek molybdenum deposit and a large property adjoining BC Metals' Red Chris deposit to the east

W.R. Gilmour, P.Geo., of Discovery Consultants, was the Qualified Person who reviewed this news release.

Rene Bernard, Chairman

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

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein.

Contact Information

  • Candorado Operating Company Ltd.
    Rene Bernard
    Chairman
    (250) 860-2950
    (250) 860-2957 (FAX)
    or
    Candorado Operating Company Ltd.
    Suite 208, 478 Bernard Avenue
    Kelowna, British Columbia, Canada, V1Y 6N7
    Website: www.candorado.com