Duran Announces SEDAR Filing of NI 43-101 Report for the Aguila Property, Copper-Molybdenum Resource, Peru

Date : 04/20/2012 @ 5:01PM
Source : Marketwired

Duran Announces SEDAR Filing of NI 43-101 Report for the Aguila Property, Copper-Molybdenum Resource, Peru

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:

Mineral Resource Statement(i) for the Aguila Copper-Molybdenum Project,     
 Peru, SRK Consulting (Canada) Inc., March 8, 2012                          
Category           Quantity         Grade              Contained Metal      
                               Cu      Mo   CuEq           Cu             Mo
              (000' tonnes)    (%)    (%)    (%) (Million lb.) (Million lb.)
Open Pit                                                                    
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
Inferred             55,880  0.320  0.033  0.477         394.2          40.7
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
(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     

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

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