RE: RE: RE: DrillingHere is the NR...
Duran Ventures Receives Drill Permit and Initiates Aguila and Corongo Drill Programs
3/24/2011 9:14:05 AM - NWC
Mar 24, 2011 (TheNewswire.ca via COMTEX News Network) --
(via Thenewswire.ca)
TORONTO, CANADA - March 24, 2011 - Duran Ventures Inc. (TSX-V: DRV) ("Duran" or the "Company") is pleased to announce the initiation of the diamond drilling program at the Aguila Porphyry Copper-Molybdenum and Corongo Gold-Silver Projects in Ancash, Peru.
The Department of Environmental Affairs of the Peruvian Ministry of Energy and Mines has granted a Category 2 Drill Permit for the Company's Aguila Project. The permit allows for 61,600 metres of drilling over a 23 month period. This time frame is calculated from the initiation date of the work program.
A Category 1 Drill Permit was granted for the Corongo Project on December 20th, 2010. The permit allows for up to twenty drill platforms on the property. The permit is valid for a 12 month period, which is also calculated from the initiation date of the work program.
Energold Drilling Peru S.A.C. has been contracted for both the Aguila and Corongo drill programs. Initially, two rigs are slated to mobilize to Aguila and one to Corongo at the end of March: the Corongo rig will be sent to Aguila when drilling is completed at Corongo. A fourth rig is anticipated to mobilize to Aguila in July of 2011. Energold Drilling has extensive experience drilling in rugged terrain for numerous clients in Peru. Their drill rigs are modular and man-portable with a small environmental footprint, and are very suitable for work in the Andes. Energold's worldwide clients include Barrick Gold, BHP Billiton, Goldcorp, Meridian Gold, Newmont Mining, as well as many others. The Company has drilled with Energold previously at the Aguila Project, and considers their drilling performance and careful attention to environmental management to be a tremendous addition to the Aguila exploration program.
The diamond drilling program is designed to provide the necessary information for the calculation of an initial 43-101 compliant resource estimate at or near 2011 year-end. The drilling is anticipated to require 7-8 months to complete, with the resource estimate to follow. Preliminary metallurgical studies will be conducted as part of the resource evaluation.
As the drill program proceeds, several holes will also be testing priority geological, geochemical, and geophysical targets. Surface mapping, sampling, and geophysical surveys conducted to date demonstrate that the Aguila Project has potential to become a significant copper-molybdenum resource, with anomalous copper distributed over an irregular 1.7 x 1.2 kilometre surface area and strong geophysical anomalies distributed over a 3.0 x 2.0 kilometre area. Drill intersections to date show consistent copper and molybdenum values over significant widths, with known areas of mineralization open in several directions and also at depth.
The Corongo Property is considered very prospective for sediment-hosted structurally controlled gold and silver mineralization, as well as porphyry copper related mineralization. Significant gold and silver results were returned from 401 samples collected during the 2010 work program, collected from the Santa Rosa East and Descubridora Zones. Details of this program can be found on a Company news release dated January 12th 2011. https://www.duranventuresinc.com/SiteResources/ViewContent.asp?DocID=31&v1ID=&RevID=629&lang=1
Duran Ventures is a Canadian exploration company focused on the exploration and development of porphyry copper, precious metal, and polymetallic deposits in Peru. The Company's principal project is the Aguila project, a porphyry copper-molybdenum project with related silver-lead-zinc zones. Cary Pothorin, P. Geo., a qualified person as defined in National Policy 43-101, is responsible for all technical information contained in this news release.