More Great NewsThere is every indication here that the Main Aguila pit could expand 5 - 10 fold as it appears Aguila east and west are both connected to the main pit. I'm quite certain Penoles will be very interested in this latest news as well ;)
GLTA
Duran Ventures Provides Exploration Update on the Aguila Copper and Molybdenum Project
TORONTO, ONTARIO--(Marketwire - Nov. 2, 2009) - DuranVentures Inc. (TSX VENTURE:DRV) is pleased to announce preliminaryresults from recent geophysical survey work and results from initialsurface sampling. The samples were collected from the Aguila, AguilaEast, and Aguila West Targets, and are being collected to verifysurface mineralization over the area of the ongoing inducedpolarization/magnetic geophysical survey. This sampling program willhelp the Company correlate subsurface geophysical anomalies withsurface mineralization, and help interpret their significance.
VDG del Peru S.A.C. (Val D'Or Geophysics) began fieldwork on September 24thon a deep induced polarization, resistivity, magnetic, and gammaspectrometry survey. The program covers an area approximately 2.0 x 3.0kilometers from the Aguila to Pasacancha zones. The Company increasedthe coverage of the induced polarization/resistivity survey from 16line kilometers to 26 line kilometers by changing to a 3D survey array.This provides more detailed information over the survey area and helpswith the geological interpretation.
TheGAMMA SPECTROMETRY method measures different radiation wavelengths ofradioactive elements, including uranium (U), thorium (Th), andpotassium (K). The K spectrometry map indicates widespread anomalies,notably stronger where associated with known intrusive bodies. This isvery significant for Duran, as it indicates a large surface expressionof potassium enrichment, which is an important alteration component oflarge porphyry copper systems. MAP 1 below clearlyshows how the main Aguila, Aguila West, Aguila East, and Pasacanchazones compare to the size of the much larger alteration zone.
TheMAGNETIC survey measures content of magnetic minerals in rock, usuallyeither magnetite or pyrrhotite. These can be original (in the case ofsome sediments), or introduced with an ore-forming event. In the caseof many copper porphyry systems, the alteration system may destroy themagnetic minerals. This appears to be the case at Aguila: a largecircular magnetic low surrounds the main Aguila body (see MAP 2). The size of this area is significant, as it shows a very large radius of influence and alteration of the main intrusive.
INDUCEDPOLARIZATION is a geophysical method where electrical current isintroduced into the ground, and metallic minerals become polarized, ortake on a charge. The method measures the characteristics of theelectrical discharge or decay. RESISTIVITY in the rock is measured atthe same time, which measures how resistive the rock is to electricalcurrent passing through. These methods are used to determinedisseminated sulfide content, as well as indicate possible strength ofalteration in the rock. The IP data is currently being processed, but apreliminary resisitivity map at 200 metres depth is shown on MAP 3.The Aguila and Pasacancha areas correspond to an area of resistivitylow. The anomaly in the Aguila area is notably larger than the mainAguila zone and roughly corresponds to the area of magnetic lowsuggesting widespread alteration. The Aguila West zone is interesting,as a northwest-southeast trending corridor of resistivity low mayindicate a dyke-like body here.
One representative IP pseudosection at line 5800E is included here (see SECTION 4),and falls between the Aguila and Aguila East areas. The IPchargeability is very strong, and indicates disseminated sulfidemineralization. It is notable because it extends outward from the areaof the main Aguila intrusive, by 600 metres to the south and 200 metresto the north, and is also notably larger at depth than at the surface.A dotted dark blue line marks this: a dotted black line marks theapproximate vertical projection of the Aguila intrusive. It should benoted that this section is an example only and that similar IPchargeability and resistivity anomalies occur on every line. This datarequires careful processing and interpretation, which is ongoing. Thepseudosections received to date indicate that strong IP chargeabilityanomaly or anomalies cover much of the three-kilometer east to westwidth of the survey area. The size and intensity of these geophysicalanomalies point to a very widespread and strong alteration andmineralizing system in this area, considerably larger than what iscurrently known in the Aguila and Pasacancha areas. It appears that theAguila and Pasacancha systems are related, as was suspected by Companygeologists. The Company is extremely pleased at these encouragingpreliminary geophysical results. They highlight the size and strengthof the mineralizing system in the Aguila-Pasacancha area and confirmthe potential of the area. Val D'Or is processing the remainder of thenew IP information and will provide Duran with an update shortly.
Companygeologists have been conducting surface sampling as the geophysicalwork was proceeding. Most of the first 74 samples are panel-type chipsamples collected from outcrops of dioritic intrusive rock, withindividual samples taken over areas varying from 1x2 to 5x5 metres. Allsamples are from the Aguila, Aguila East, and Aguila West areas, andaverage 0.24% copper. Values range from 247 to 17,500 ppm (or 0.024% to1.75% copper). At an exploration level for porphyry copper deposits,surface samples of over 100 ppm copper are considered significantanomalies. Current sampling in the Aguila area show that 53 of the 74samples returned values over 1000 ppm copper (0.1% Cu). Molybdenumvalues range up to 408 ppm (or 0.040% Mo), but are generally lower thanthe averages of the Aguila intrusives.
Theseresults are very encouraging and show that the mineralized system atAguila covers a much larger area than just the main Aguila intrusivebody (please refer to MAP 5 below). The sampling program is ongoing, and will cover the same area as the geophysical survey between Aguila and Pasacancha.
Achannel sampling program was initiated over the Aguila East intrusivebody. The plan was designed to test copper and molybdenummineralization over the area by collecting continuous channel samplesusing a diamond saw. The program will include 4 parallel linesseparated by 50 metres between lines, covering an area of approximately150 x 200 metres. The sample collection procedure is to cut a 20centimeter wide channel to a depth of 5 centimeters with a diamond saw,chisel out the rock, and quarter the material down to suitablelaboratory sample size. Most samples were 3 metres in length. Thequality of the continuous channel sampling method is considered to beequal to a drill hole. The results from this Sample Line A over theentire 113.5 meter length sampled averaged 0.20% copper, with one 27meter interval averaging 0.29 % copper. Molybdenum values areconsidered low for the area and averaged 74 ppm. The sample resultsdemonstrate very consistent grades over the sampled length, and confirmthe importance of the Aguila East area as part of the Aguilamineralized system
TheCompany is very pleased with these new sampling results, as theyconfirm that the copper and molybdenum potential of the Aguila depositextends over a considerably larger area than was previouslydemonstrated. The geophysical survey clearly demonstrates the sizepotential of the Aguila system. Company geologists believe that strongnew drill targets will be defined when sampling results are combinedwith anomalies from the geophysical program.
Duranis a Canadian exploration company focused on the exploration anddevelopment of porphyry copper, precious metal, and polymetallicdeposits in Peru. Strong copper and molybdenum prices are cause forrenewed focus on the Company's flagship project, the Aguila CopperMolybdenum Porphyry.
Allrock samples were prepared and analyzed at Inspectorate Services PeruS.A.C. in Lima (a certified laboratory) using an aqua regia digestionand atomic absorption (AQR/AA) method. The company has a QA/QC protocolin place, including the use of certified standards and secure care andcustody of samples.
CaryPothorin, P. Geo., President of Duran, is a Qualified Person as definedin National Policy 43-101, and is responsible for all technicalinformation contained in this news release.
Duran Ventures Inc. is a Canadian resource company
listed on the TSX Venture Exchange: Symbol "DRV"
To view MAP 1 Spectrometry with Potassium (K), please visit the following link:https://media3.marketwire.com/docs/DRV1102M1.pdf
To view MAP 2 Ground Magnetics, please visit the following link: https://media3.marketwire.com/docs/DRV1102M2.pdf
To view MAP 3 Resistivity at 200 metres depth, please visit the following link: https://media3.marketwire.com/docs/DRV1102M3.pdf
Toview SECTION 4 Resistivity (top) and IP Chargeability (bottom)Pseudosection at Line 5800 E, please visit the following link: https://media3.marketwire.com/docs/DRV1102M4.pdf
To view MAP 5 Copper results from first 74 surface samples collected in the Aguila area, please visit the following link: https://media3.marketwire.com/docs/DRV1102M5.pdf