Here is the press release:
Duran Ventures Aguila Hole 13 Intersects 458.1 Metres of 1.024% Copper Equivalent(i) Including First 146.25 Metres of 0.931% Cu and 0.043% Mo
Wednesday December 3, 11:30 am ET
TORONTO, ONTARIO--(Marketwire - Dec. 3, 2008) - George A. Brown, CEO, and Cary Pothorin, President of Duran Ventures Inc. (TSX VENTURE:DRV - News) are pleased to provide the following update on exploration activities at the Aguila Cu-Mo Target in Ancash, Peru. Cary 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 13 was drilled on section 10050N to the southwest at an inclination of -60 degrees. The collar is approximately 50 metres to the southwest of the collar of Hole 8 (July 14 2008 news release - 522.3 metres averaging 0.626% Cu 0.049% Mo for 1.119% Copper Equivalent(i)). Hole 13 final length was 578.9 metres which represents a vertical depth of approximately 501 metres from the collar and 644 metres projected to surface from the bottom of the hole. Mineralized diorite porphyry intersected from surface to a depth of 146.75 metres returned values of 0.931% Cu and 0.043% Mo averaged over the entire 146.25 metre assayed interval. The assayed interval from 0.5 to 458.6 metres (458.1 metres) averaged 0.497% Cu and 0.053% Mo for 1.024% copper equivalent(i). The entire Hole 13, comprised of 578.4 metres of assayed interval, averaged 0.427% Cu and 0.046% Mo for a 0.886% copper equivalent(i).
Hole 13 summarized:
From To Length Rock Type Cu % Mo % Total Cu
(m) (m) (m) Equivalent %(i)
----------------------------------------------------------------------------
0.5 146.75 146.25 Diorite Porphyry 0.931 0.043 1.358
Mixed Diorite and
146.75 432.2 285.45 Quartzite-Siltstone 0.272 0.059 0.862
432.2 458.6 26.4 Diorite Porphyry 0.524 0.036 0.870
--------- -----------------------------
0.5 458.6 458.1 0.497 0.053 1.024
458.6 578.9 120.3 Quartzite-Siltstone 0.161 0.020 0.361
--------- -----------------------------
TOTAL 578.4 0.427 0.046 0.886
--------- -----------------------------
(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 more 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.
Aguila Hole 14 was completed on November 28th at a final length of 459.6 metres. This hole was collared just south of section line 10100N, approximately 125 metres to the northeast of Hole 8. It was drilled to the southwest at an inclination of -60 degrees, and was designed to test the Aguila intrusive body further to the north. It intersected approximately 75 metres of mineralized sedimentary host rock, 315 metres of altered and mineralized diorite porphyry intrusive material and intrusive breccia, and 68 metres of mineralized sedimentary rock with several diorite porphyry d**es. After terminating Hole 14, Iguana Drilling was demobilized from the property as of December 1st as a measure of preserving working capital.
The Company will continue to attempt to test the Pasacancha Ag-Pb-Zn Target before the holiday break from a platform to which a road access is currently being built. The Company is continuing with exploration work to develop other Aguila style porphyry Cu-Mo targets to the drill stage on the 9,800 hectares of exploration properties held in the area. The Company is also working to advance the Santa Rosa Gold Target to a drill ready stage by the first quarter of 2009.
The 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 other 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 as "DRV".
To view the Drill Section Sketch of Holes 8 & 13 map, please visit the following link:
media3.marketwire.com/docs/DRVDRILL.pdfThe TSX Venture Exchange has not reviewed and accepts no responsibility for the adequacy or accuracy of this news release
Contact:
George A Brown
Duran Ventures Inc.
CEO
(416) 867-1101
(416) 867-1222 (FAX)
Email: duranventures@ca.inter.net
Website:
www.duranventuresinc.com--------------------------------------------------------------------------------
Source: Duran Ventures Inc.