Post by admin on Jan 5, 2009 15:09:18 GMT -5
Duran Ventures Aguila Hole 14 Intersects 455.25 Metres of 0.879% Copper Equivalent Including 259.58 Metres of 1.066% Copper Equivalent
www.marketwire.com/press-release/Duran-Ventures-Inc-TSX-VENTURE-DRV-934590.html
Duran Ventures Aguila Hole 14 Intersects 455.25 Metres of 0.879% Copper Equivalent Including 259.58 Metres of 1.066% Copper Equivalent
TORONTO, ONTARIO--(Marketwire - Jan. 5, 2009) - George A. Brown, CEO, and Cary Pothorin, President, of Duran Ventures (TSX VENTURE:DRV) are pleased to provide the following update on exploration activities at the Aguila Cu-Mo Target in Ancash, Peru. Mr. Pothorin, P.Geo., is a Qualified Person as defined in National Policy 43-101 and is responsible for all technical information contained in this news release.
Aguila Hole 14 was collared to the south of section 10100N, and drilled towards the southwest at an inclination of -60 degrees. The hole was drilled to a final depth of 459.6 metres, which is an approximate vertical depth of 398 metres from the collar or 357 metres projected from surface (see Section Sketch for Aguila Hole 14). The first 77.9 metres intersected altered and mineralized wall rock sediments and intrusive breccia, the next 308.45 metres intersected altered and mineralized diorite porphyry intrusive with minor intrusive breccia, and the final 68.9 metres were in altered and mineralized sedimentary rock. Over the entire 455.25 metre assayed interval (from 4.35 to 459.60 metres), the samples returned an average of 0.499% Cu and 0.038% Mo for a copper equivalent of 0.879%. The 259.58 metre interval from 131.12 to 390.70 metres returned 0.652% Cu and 0.041% Mo for a copper equivalent of 1.066%.
The following table provides a summary of copper, molybdenum, and copper equivalent percentages from all 14 Duran drill holes at the Aguila Main Target to date:
go here for table
www.marketwire.com/press-release/Duran-Ventures-Inc-TSX-VENTURE-DRV-934590.html
(i)Note: Total Cu Equivalent % is the sum of the Cu% plus 10 times the Mo% based on an assumed 10:1 ratio of Mo to Cu selling prices. (i.e. US$1.50 Cu to US$15. Mo). Metallurgical recoveries and net smelter returns are assumed to be 100%. These equivalent grades should not be interpreted as actual grades since the conversion ratios vary with the volatile prices of Cu and Mo and the economic recoveries of Cu and Mo can vary significantly in actual extraction and processing. The current ratio is less than 10:1 however all previous holes have been reported with this ratio and the Company feels this is still a reasonable long term ratio to use for this purpose.
The drill pattern completed to date over the Aguila Main Target is spread over an area approximately 200 metres by 400 metres covering the main Aguila intrusive body and some surrounding wall rock (see Aguila Main Target Drill Location Sketch Map with enlargement). No vertical depth limit has been encountered in the drill holes; strong, consistent copper and molybdenum mineralization has been intersected in the diorite porphyry body to a vertical depth of over 600 metres (June 3 2008 News Release - Aguila Hole 6 with vertical depth of 626.4 metres projected from drill collar terminated in 5.5 metres of 0.687% Cu and 0.045% Mo for 1.135% Cu Equivalent(i)). Copper and molybdenum mineralization in the altered wallrock near intrusive contacts has proven to be significant, particularly in molybdenum content (July 14 2008 News Release - Aguila Hole 8 intersects 179.9 metres within mineralized sedimentary wallrock of 0.194% Cu and 0.055% Mo for 0.746% Cu Equivalent(i)).
While some lateral limits have been defined by the early stage drilling within the Aguila intrusive, mapping and field reconnaissance work has determined that there is considerable size potential which remains to be tested over the extended Aguila property. As a target, the Aguila porphyry remains open to the east, the south, and north. Related but untested mineralized intrusive bodies occur both in proximity to the main Aguila porphyry, and also on Duran's other regional properties. Recent regional reconnaissance work resulted in the staking of 1,100 additional hectares, bringing Duran's total to 11,000 hectares. Our Aguila exploration focus for 2009 will concentrate on defining and advancing new Aguila-style targets to the drill stage.
Drill results have been very positive. The copper and molybdenum grades compare very favorably with world-class Peruvian porphyry copper and copper-molybdenum deposits such as Cuajone, Michiquillay, Galeno, Antapaccay, and Magistral. Substantial tonnage was proven at these deposits through long-term exploration and drilling programs. Duran Ventures remains committed to developing the Aguila deposit to a world-class level and believes that the financial markets will return to more enthusiastic levels given time.
Duran will also continue to advance the Pasacancha Ag-Au-Pb-Zn Target and the Santa Rosa Au Target in 2009. Pasacancha Hole 4B was completed to 377.15 metres on December 22 2008 and positive results are expected later this month.
All drill core was logged, photographed and split in half using a diamond saw. One half of the core was systematically sampled in three metre intervals and sent to the Lima laboratory of Inspectorate Services Peru SAC (a certified laboratory) for preparation and multi-element ICP analysis followed by AQR/AA assaying for Cu and Mo. The company has a QA/QC protocol in place including the use of certified standards and blanks, duplicate sampling, secure care and custody of samples, and check sampling done by outside labs.
Investors are invited to visit the Duran Ventures IR Hub at www.agoracom.com/ir/duran where they can post questions and receive answers or review existing questions and answers. Investors may also ask questions or request to be added to the investor email list at DRV@agoracom.com
Duran Ventures Inc. is a Canadian resource company listed on the TSX Venture Exchange: Symbol "DRV"
To view the "Section Sketch for Aguila Hole 14", please visit the following link: media3.marketwire.com/docs/drv10105.pdf
To view the "Aguila Main Target Drill Location Sketch Map with enlargement", please visit the following link: media3.marketwire.com/docs/drv20105.pdf
The TSX Venture Exchange has not reviewed and accepts no responsibility for the adequacy or accuracy of this news release.
www.marketwire.com/press-release/Duran-Ventures-Inc-TSX-VENTURE-DRV-934590.html
Duran Ventures Aguila Hole 14 Intersects 455.25 Metres of 0.879% Copper Equivalent Including 259.58 Metres of 1.066% Copper Equivalent
TORONTO, ONTARIO--(Marketwire - Jan. 5, 2009) - George A. Brown, CEO, and Cary Pothorin, President, of Duran Ventures (TSX VENTURE:DRV) are pleased to provide the following update on exploration activities at the Aguila Cu-Mo Target in Ancash, Peru. Mr. Pothorin, P.Geo., is a Qualified Person as defined in National Policy 43-101 and is responsible for all technical information contained in this news release.
Aguila Hole 14 was collared to the south of section 10100N, and drilled towards the southwest at an inclination of -60 degrees. The hole was drilled to a final depth of 459.6 metres, which is an approximate vertical depth of 398 metres from the collar or 357 metres projected from surface (see Section Sketch for Aguila Hole 14). The first 77.9 metres intersected altered and mineralized wall rock sediments and intrusive breccia, the next 308.45 metres intersected altered and mineralized diorite porphyry intrusive with minor intrusive breccia, and the final 68.9 metres were in altered and mineralized sedimentary rock. Over the entire 455.25 metre assayed interval (from 4.35 to 459.60 metres), the samples returned an average of 0.499% Cu and 0.038% Mo for a copper equivalent of 0.879%. The 259.58 metre interval from 131.12 to 390.70 metres returned 0.652% Cu and 0.041% Mo for a copper equivalent of 1.066%.
The following table provides a summary of copper, molybdenum, and copper equivalent percentages from all 14 Duran drill holes at the Aguila Main Target to date:
go here for table
www.marketwire.com/press-release/Duran-Ventures-Inc-TSX-VENTURE-DRV-934590.html
(i)Note: Total Cu Equivalent % is the sum of the Cu% plus 10 times the Mo% based on an assumed 10:1 ratio of Mo to Cu selling prices. (i.e. US$1.50 Cu to US$15. Mo). Metallurgical recoveries and net smelter returns are assumed to be 100%. These equivalent grades should not be interpreted as actual grades since the conversion ratios vary with the volatile prices of Cu and Mo and the economic recoveries of Cu and Mo can vary significantly in actual extraction and processing. The current ratio is less than 10:1 however all previous holes have been reported with this ratio and the Company feels this is still a reasonable long term ratio to use for this purpose.
The drill pattern completed to date over the Aguila Main Target is spread over an area approximately 200 metres by 400 metres covering the main Aguila intrusive body and some surrounding wall rock (see Aguila Main Target Drill Location Sketch Map with enlargement). No vertical depth limit has been encountered in the drill holes; strong, consistent copper and molybdenum mineralization has been intersected in the diorite porphyry body to a vertical depth of over 600 metres (June 3 2008 News Release - Aguila Hole 6 with vertical depth of 626.4 metres projected from drill collar terminated in 5.5 metres of 0.687% Cu and 0.045% Mo for 1.135% Cu Equivalent(i)). Copper and molybdenum mineralization in the altered wallrock near intrusive contacts has proven to be significant, particularly in molybdenum content (July 14 2008 News Release - Aguila Hole 8 intersects 179.9 metres within mineralized sedimentary wallrock of 0.194% Cu and 0.055% Mo for 0.746% Cu Equivalent(i)).
While some lateral limits have been defined by the early stage drilling within the Aguila intrusive, mapping and field reconnaissance work has determined that there is considerable size potential which remains to be tested over the extended Aguila property. As a target, the Aguila porphyry remains open to the east, the south, and north. Related but untested mineralized intrusive bodies occur both in proximity to the main Aguila porphyry, and also on Duran's other regional properties. Recent regional reconnaissance work resulted in the staking of 1,100 additional hectares, bringing Duran's total to 11,000 hectares. Our Aguila exploration focus for 2009 will concentrate on defining and advancing new Aguila-style targets to the drill stage.
Drill results have been very positive. The copper and molybdenum grades compare very favorably with world-class Peruvian porphyry copper and copper-molybdenum deposits such as Cuajone, Michiquillay, Galeno, Antapaccay, and Magistral. Substantial tonnage was proven at these deposits through long-term exploration and drilling programs. Duran Ventures remains committed to developing the Aguila deposit to a world-class level and believes that the financial markets will return to more enthusiastic levels given time.
Duran will also continue to advance the Pasacancha Ag-Au-Pb-Zn Target and the Santa Rosa Au Target in 2009. Pasacancha Hole 4B was completed to 377.15 metres on December 22 2008 and positive results are expected later this month.
All drill core was logged, photographed and split in half using a diamond saw. One half of the core was systematically sampled in three metre intervals and sent to the Lima laboratory of Inspectorate Services Peru SAC (a certified laboratory) for preparation and multi-element ICP analysis followed by AQR/AA assaying for Cu and Mo. The company has a QA/QC protocol in place including the use of certified standards and blanks, duplicate sampling, secure care and custody of samples, and check sampling done by outside labs.
Investors are invited to visit the Duran Ventures IR Hub at www.agoracom.com/ir/duran where they can post questions and receive answers or review existing questions and answers. Investors may also ask questions or request to be added to the investor email list at DRV@agoracom.com
Duran Ventures Inc. is a Canadian resource company listed on the TSX Venture Exchange: Symbol "DRV"
To view the "Section Sketch for Aguila Hole 14", please visit the following link: media3.marketwire.com/docs/drv10105.pdf
To view the "Aguila Main Target Drill Location Sketch Map with enlargement", please visit the following link: media3.marketwire.com/docs/drv20105.pdf
The TSX Venture Exchange has not reviewed and accepts no responsibility for the adequacy or accuracy of this news release.