Duran Announces SEDAR Filing of NI 43-101 Report for the Aguila Property, Copper-Molybdenum Resource, Peru
April 20 2012 - 5:01PM
Marketwired
Duran Ventures Inc. (TSX VENTURE:DRV) ("Duran" or the "Company") is
pleased to report that it has filed a technical report pursuant to
National Instrument 43-101 ("NI 43-101") in support of the
Company's March 8, 2012 news release announcing the initial
resource estimate for the Aguila Property located in the Ancash
region of north-central Peru.
The report, entitled "Mineral Resource Technical Report for the
Aguila Copper-Molybdenum Project, Peru" (the "Technical Report"),
dated April 20, 2012 with an effective date of March 8, 2012, was
prepared for Duran by SRK Consulting (Canada) Inc. and authored by
G. David Keller, P.Geo. (APGO#1235) a Qualified Person as defined
by NI 43-101, and independent of Duran. The Technical Report is
available through the Internet under the Company's profile on the
Canadian System for Electronic Document Analysis and Retrieval
(SEDAR) at www.sedar.com and on the Company's website at
www.duranventuresinc.com.
The 100% owned Aguila deposit is a porphyry copper-molybdenum
deposit hosted in hydrothermally altered diorite, quartz diorite,
and monzonite porphyry rocks that have intruded rocks of the
Chicama and Chimu Formations. Copper and molybdenum mineralization
consists of disseminated and stockwork style chalcopyrite and
molybdenite in sedimentary and intrusive rocks. Alteration over the
deposit consists of potassic alteration with an argillic retrograde
overprint. Supergene mineralization is not associated with this
deposit because of high relief and fast erosion rates. Positive
preliminary metallurgical results determined by G&T
Metallurgical Services Ltd. (See News Release Jan. 12, 2012)
confirm that the copper/molybdenum mineralization is amenable to
standard flotation processing with good recoveries and no
deleterious elements. As drilled to date, the copper and molybdenum
mineralization extends for approximately 1,000 metres from east to
west, 700 metres north to south and vertically for 1,000 metres.
The Aguila Project is located in Peru's north central Ancash
District, 40 kilometres south of the Magistral copper/molybdenum
deposit of MILPO and some 120 km north of Peru's largest
polymetallic mine, the Antamina Mine of
BHP/Xstrata/Teck/Mitsubishi.
The Initial Mineral Resource Statement for the Aguila Property
as presented in the March 8, 2012 Company News Release is:
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Mineral Resource Statement(i) for the Aguila Copper-Molybdenum Project,
Peru, SRK Consulting (Canada) Inc., March 8, 2012
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Category Quantity Grade Contained Metal
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Cu Mo CuEq Cu Mo
(000' tonnes) (%) (%) (%) (Million lb.) (Million lb.)
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Open Pit
Resources
Indicated 27,750 0.612 0.036 0.791 374.5 22.0
Inferred 299,640 0.264 0.019 0.357 1,743.9 125.5
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Underground
Resources
Inferred 55,880 0.320 0.033 0.477 394.2 40.7
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Total
Resources
Indicated 27,750 0.612 0.036 0.791 374.5 22.0
Inferred 355,520 0.273 0.021 0.376 2,138.2 166.2
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(i)Mineral resources are not mineral reserves and do not have demonstrated
economic viability. All figures have been rounded to reflect the relative
accuracy of the estimates. Open pit mineral resources are reported at a
cut-off grade of 0.22 percent copper equivalent and underground mineral
resources are reported at a cut-off grade of 0.26 percent copper
equivalent. Copper equivalent grades are based on metallurgical recovery
of 87 percent for copper and 88 percent for molybdenum and metal prices
assumptions of US$2.85 per pound of copper and US$13.85 per pound of
molybdenum
With well over 2 billion pounds of contained copper and over 166
million pounds of contained molybdenum and the recommendation by
SRK to continue drilling the Aguila resource, since it is open in
several directions, Duran has plans to continue drilling and begin
engineering studies later in 2012.
Company Information
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 Copper-Molybdenum Porphyry Project with related
silver-lead-zinc mineralization.
Duran Ventures Inc. is a Canadian resource company listed on the
TSX Venture Exchange: Symbol "DRV"
Disclosure Regarding Forward-Looking Statements: This press
release contains certain "Forward-Looking Statements" within the
meaning of applicable securities legislation. We use words such as
"might", "will", "should", "anticipate", "plan", "expect",
"believe", "estimate", "forecast" and similar terminology to
identify forward looking statements and forward-looking
information. Such statements and information are based on
assumptions, estimates, opinions and analysis made by management in
light of its experience, current conditions and its expectations of
future developments as well as other factors which it believes to
be reasonable and relevant. Forward-looking statements and
information involve known and unknown risks, uncertainties and
other factors that may cause our actual results to differ
materially from those expressed or implied in the forward-looking
statements and information and accordingly, readers should not
place undue reliance on such statements and information. Risks and
uncertainties that may cause actual results to vary include but are
not limited to the speculative nature of mineral exploration and
development, including the uncertainty of resource estimates;
operational and technical difficulties; the availability to the
Company of suitable financing alternatives; fluctuations in copper
and molybdenum and other commodity prices; changes to and
compliance with applicable laws and regulations, including
environmental laws and obtaining requisite permits; political,
economic and other risks arising from our Peruvian activities;
fluctuations in foreign exchange rates; as well as other risks and
uncertainties which are more fully described in our annual and
quarterly Management's Discussion and Analysis and in other filings
made by us with Canadian securities regulatory authorities and
available at www.sedar.com. While the Company believes that the
expectations expressed by such forward-looking statements and
forward-looking information and the assumptions, estimates,
opinions and analysis underlying such expectations are reasonable,
there can be no assurance that they will prove to be correct. In
evaluating forward-looking statements and information, readers
should carefully consider the various factors which could cause
actual results or events to differ materially from those expressed
or implied in the forward looking statements and forward-looking
information.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Duran Ventures Inc. Jeffrey Reeder (416)
867-1591info@duranventuresinc.com www.duranventuresinc.com