Candorado Operating Company Ltd.

Candorado Operating Company Ltd.

October 09, 2008 09:15 ET

New Copper Discovery on Candorado's Bluff Lake Property, 100 Mile House B.C.

KELOWNA, BRITISH COLUMBIA--(Marketwire - Oct. 9, 2008) - Candorado Operating Company Ltd. (the "Company") (TSX VENTURE:CDO) (FRANKFURT:HQU) (BERLIN:HQU) is pleased to announce completion of a diamond drilling program at its 100% owned Bluff Lake property located 40 km north of 100 Mile House in south-central BC. The property is immediately north of GWR's Lac La Hache copper-gold property.

Recently a detailed review of airborne geophysical data was conducted on the Bluff Lake property and surrounding area by Mr. Rob Shives of GamX Inc. Mr. Shives, formerly the head of the Radiation Division of the Geological Survey of Canada, has over 20 years of experience in application of airborne surveys in the search for porphyry copper-gold and other deposit types throughout Canada. The review defined eight target areas all of which were subjected to geochemical soil sampling, prospecting and rock sampling.

A prominent easterly trending copper-in-soil anomaly measuring over 500 metres long and 150 metres wide was defined over one target area. Prospecting of this area resulted in the discovery of copper mineralized float containing 1.49% copper and 8.1 g/t silver. The angular nature of this float suggests a nearby source.

In June, 2008 four angled drill holes totaling 700 metres were completed and span a distance of 525 metres along the copper-in-soil anomaly. Each drill hole intersected granitic rocks containing finely disseminated and fracture controlled metallic (native) copper. The two easternmost holes also contain traces of chalcopyrite, bornite and molybdenite. Copper mineralization was evident at the end of all the holes. Work to date indicates that mineralization is open along strike and to depth.

Exploration on the Bluff Lake property was conducted under the supervision of W. Gruenwald, P. Geo, of Geoquest Consulting Ltd. a "qualified person" as defined by National Instrument 43-101.

Results for the 2008 program will be released as they become available. Surface and core samples were submitted to Assayers Canada in Vancouver for copper and multi-element analysis. Quality assurance and quality control (QA/QC) include the insertion of analytical standards and blanks in addition to the laboratory's internal QA program.

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.

Rene Bernard, Chairman

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

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.
    Rene Bernard
    (250) 979-2595
    (250) 860-2957 (FAX)