Drill Results Are OutFirst half of the release:
Highlights Include 999.1 Metres of 0.33% Copper and 0.029% Molybdenum (0.53% Copper Equivalent) Incorporating 306.6 Metres of 0.55% Cu and 0.047 Mo (Cu Equivalent Value of 0.87%)
TORONTO, ONTARIO, Sep 15, 2011 (MARKETWIRE via COMTEX News Network) --
Duran Ventures Inc. (TSX VENTURE: DRV) ("Duran" or the "Company") is pleased to provide results from seven additional drill holes from the ongoing resource drilling program at the Company's 100% owned Aguila Porphyry Copper ("Cu")-Molybdenum ("Mo") Project in Peru. All drill holes are located on the Aguila Project, which is located in the Department of Ancash in north-central Peru, some 400 kilometres northwest of Lima.
A 15,000 metre diamond drilling program commenced on April 19th. SRK Consulting has been retained to prepare a preliminary NI 43-101 compliant resource estimate. Over 13,000 metres have been drilled to date (20 holes completed and 3 currently drilling): the 15,000 metre program is expected to be completed by early October. The table at the end of the news release provides a summary of significant copper and molybdenum drill intercepts from the current drill program, and the drill locations are shown in the map incorporated in this news release.
Diamond drill hole 11AGD029 was drilled from a site approximately 200 metres to the north of the main Aguila intrusive. The hole was drilled at an azimuth of 175 degrees and inclination of -65 degrees to a final depth of 1001.1 metres. Hole 11AGD029 was designed to fill in possible mineralized gaps existing on several of the east-west oriented sections in the main Aguila Porphyry system. The initial 499.4 metres from surface cut mostly mineralized sedimentary host rock, while the final 501.7 metres cut diorite porphyry intrusive rock. The entire drill hole returned an average of 0.33% Cu and 0.029% Mo (Cu equivalent value of 0.53%) over 999.1 metres. The initial 499.4 metre interval from surface averaged 0.24% Cu and 0.025% Mo (0.41% Cu equivalent). The final 501.7 metres from 499.4 to 1001.1 metres returned an average of 0.42% Cu and 0.033 Mo (Cu equivalent value of 0.64%), with a higher grade section from 499.4 to 806.0 metres returning 306.6 metres of 0.55% Cu and 0.047 Mo (Cu equivalent value of 0.87%). The hole was stopped due to depth limitations of the drilling equipment, and ended in mineralized diorite intrusive rock at approximately 900 metres vertical depth from surface. Mineralization in hole 11AGD029 shows a horizontal N-S projection of over 450 metres.
Initial drill testing on the Aguila East area shows that copper mineralization extends over 500 metres to the east of the central core zone of the main Aguila Porphyry. Hole 11AGD033 was drilled on an azimuth of 30 degrees and inclination of -50 degrees to a final depth of 426.8 metres, and intersected 251.7 metres of 0.33% Cu (Cu equivalent value of 0.36%) from surface. The Cu mineralization extends over 190 metres higher in elevation than the holes drilled in the central Aguila pit area.
Diamond drill holes 11AGD027 and 11AGD030 were also drilled in the Aguila East area and intersected both mineralized diorite and sedimentary wallrock. Hole 11AGD027 was drilled directly north at an inclination of -60 degrees to a final depth of 546 metres. The 118.8 metre intersection from 3.2 to 122.0 metres returned 0.20% Cu (Cu equivalent value of 0.23%). Hole 11AGD027 was collared approximately 70 metres lower in elevation than hole 11AGD033.