Cadente Copper Corp’s (OTCPK: CCOXF) price soared 33.20% to $ 0.1253 in the last session, bringing its market capitalization to $ 33.27 million. A recent trade of 39K shares of CCOXF stock was higher than its average daily volume of 18.11K shares. Furthermore, CCOXF shares have traded in a range of $0.1130 to $0.1253. There are 265.53 million shares outstanding for this pink sheet company. Following news that the company had completed all field work for an environmental study, CCOXF stock price rose.
Why did CCOXF do that study?
Candente Copper is in the business of acquiring, exploring, and developing mineral properties. A CCOXF project that is at the forefront of the company’s development is the 100% owned Canariaco project, which consists of the Canariaco Norte deposit and the Canariaco Sur deposit, as well as the Canariaco Verde prospect. They are located in the Department of Lambayeque of the Peruvian Andes within the western Cordillera.
A recent announcement by Candente Copper revealed that Yaku Consultores had completed all field work for an updated Environmental Impact Assessment (EIAsd).
- Drilling permits will be required for the Canariaco Project in northern Peru when the EIAsd is completed.
- After compiling the necessary data, the application for drilling permits will be ready in approximately six weeks.
- CCOXF’s CEO, Joanne Freeze, said the completion of this fieldwork by Yaku comes at a perfect time, as it will be incorporated into Ausenco’s Preliminary Economic Assessment (“PEA”) currently underway.
- The CCOXF has also been working with local authorities to maintain community roads, run irrigation canals, and expand the coverage of the Internet and mobile phone in the community.
- As part of CCOXF’s commitment to Shared Value, an effort to ensure mutual benefit between the company, the government and the community, this work is being conducted as part of the action.
Other exploration activities at CCOXF include:
This month also saw Candente Copper (CCOXF) begin an exploration program at the Canyon Creek Copper Project in northwestern British Columbia (“B.C.”), Canada. Mineralization in bedrock was previously discovered to be a source of copper (“Cu”) and molybdenum (“Mo”). Global geochemical and geophysical anomalies were also discovered, all of which are typical of porphyry style mineralization.
A soil sample and regional stream sediments indicate copper-molybdenum-silver anomalies on the Canyon Creek property, which encompasses 24 square kilometres. Stream sediment anomalies extend over a 5 km by 2 km area east of anomalous levels of Mo and Cu in soils. In terms of parts per million (“ppm”), Mo ranges from 10 to 270, and Cu ranges from 40 to 780.