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Duran Ventures Initiates Exploration Program at Corongo Joint Venture Project, Department of Ancash, Peru Sep 14, 2010 TORONTO, CANADA - September 14, 2010 - Duran Ventures Inc. ("Company") (TSX-V: DRV) is pleased to announce the initiation of exploration activity at the Corongo Project in Ancash, Peru. The project is located approximately 400 km north of Lima, and 5-10 kilometres to the northwest of the Company's flagship Aguila Porphyry Copper-Molybdenum Project. A total of 3,100 hectares are covered by 11 contiguous concessions. This area of the Western Cordillera of Peru hosts numerous precious and base metal deposits, including Barrick Gold Corporation's Pierina gold mine and Compania Minera Antamina S.A.'s Antamina copper-zinc mine. Limited early stage sampling and mapping carried out in 2009 defined several zones with gold and silver bearing veins and breccias, gold-copper-molybdenum bearing mantos (mineralization emplaced along bedding or bedding planes) and breccias, and disseminated porphyry style copper and molybdenum mineralization. Duran has sampled vein material on the property which returned assay values of up to 14.6 grams of gold per tonne and 1,642 grams of silver per tonne. The Corongo Property is underlain by Jurassic and Cretaceous quartzite, siltstone, and shale formations which are intruded by dioritic and monzonitic dykes and plugs. These intrusive bodies are thought to be related to the Miocene Aguila intrusive bodies. The sediment package is strongly folded and faulted, with a dominant north-west strike direction. Historic small-scale mining in the Corongo area produced gold, copper, and silver from vein and manto systems in the Descubridora, Santa Rosa, and Pucapampa Mines. The objective of the field work is to define potential bulk mineable precious metal targets and prepare the property for a diamond drilling program. Surface sampling and detailed geological mapping are underway, to be followed by a geophysical survey over priority target areas. In a Company news release dated March 18, 2010, Duran Ventures announced that it had entered into a mineral property option agreement with LeBoldus Capital Inc. (TSXV: LEB) whereby LeBoldus can acquire a 50% interest in Duran Ventures' Corongo Project. The Corongo Property option was subsequently amended to modify the payment schedule such that LeBoldus is required to spend US$250,000 on or before October 31, 2010 and a further US$750,000 between August 17, 2011 and March 17, 2012. The Company has received the initial US$250,000 and field activities conducted and managed by Duran have commenced. Duran Ventures is a Canadian exploration company focused on the exploration and development of porphyry copper, precious metal, and polymetallic deposits in Peru. 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. Duran Ventures Inc. is a Canadian resource company listed on the TSX Venture Exchange: Symbol "DRV" ... |
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| aus der Diskussion: | Duran Ventures Inc.- Kanadischer Explorer in Peru |
| Autor (Datum des Eintrages): | praesens (14.09.10 16:25:29) |
| Beitrag: | 48 von 103 (ID:40148772) |
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