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TORONTO, ONTARIO--(Marketwire - Jan. 13, 2010) - Duran Ventures Inc. (TSX VENTURE:DRV) is pleased to announce assay results from diamond drill hole 09AGD015, resumption of drilling at the Aguila Project, and exploration results from underground sampling at Aguila West.
Diamond drill hole 09AGD015 was drilled past the northern edge of the Aguila open pit, at an azimuth of 250 degrees and an inclination of -60 degrees (please refer to the adjacent map). Drilling began in the week of December and ended in mineralization at a final depth of 444.1 metres. The drill hole exhibited strong quartz-sulfide stockworks with chalcopyrite and molybdenite mineralization in both diorite intrusive and the host clastic sediments. Assay results are summarized below:
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LENGTH Cu Mo
FROM TO (m) (%) (%)
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0.4 444.1 443.7 0.36 0.021
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Including
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0.4 224.0 223.6 0.51 0.021
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Hole 09AGD015 is very significant for the Company, as it continues to prove that significant copper and molybdenum mineralization occurs not only in the host diorite intrusive, but also well into the host sedimentary units. A breakdown of this interval by rock type shows the distribution of copper and molybdenum in the diorite and in the mineralized wallrock.
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LENGTH
ROCK TYPE FROM TO (m) Cu (%) Mo (%)
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Diorite Intrusive 0.4 152.5 152.1 0.57 0.017
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Quartzite and
Siltstone 152.5 175.5 23.0 0.27 0.023
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Diorite Intrusive 175.5 191.4 15.9 0.50 0.030
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Quartzite and
Siltstone 191.4 224.0 32.6 0.41 0.035
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The remaining 220.1 meters intersected mineralized sediments returning 0.21% Cu and 0.022% Mo over the interval. The implication is that the tonnage potential of the Aguila area may be much greater than previously thought. It is important to note that drill hole 09AGD015 was drilled on the flank of a strong deep-seated chargeability anomaly, but drilled away from the core of the chargeability high.
Drilling restarted at the project with diamond drill hole 10AGD016 on January 7th. The projection of diamond drill hole 10AGD016 is plotted on the adjacent map. The hole is collared on the site of hole 08AGD013, but will be drilled on an azimuth of 70 degrees at an inclination of -70 degrees. The target is a strong induced polarization (IP) chargeability high, which occurs between the Aguila and Aguila East areas. The depth as of January 12th at 8:00AM was 261 metres.
The objective of the Company's drill program is to expand the area of the Aguila target and test geological and geophysical targets which have been defined through ongoing surface mapping and sampling together with the recent geophysical survey.
Ten underground samples were collected from a small working at the Aguila West Zone, located roughly 450 metres to the southwest of the main Aguila pit. The samples were two metre chip samples collected along the wall of the working. The average over the 20 metre sampled length is 0.54% copper and 0.009% molybdenum. The adit is oriented in a SW-NE orientation. The copper mineralization is hosted in a diorite porphyritic intrusive similar to the main Aguila area. Mineralized porphyry shows classic potassic and local weak phyllic alteration typical of the main mineralized zone on the property. Most mineralization is disseminated, with several narrow quartz-sulfide veins striking in a northwest-southeast to north-south direction. A diamond drill hole is planned for the Aguila West area.
All core samples will be prepared and analyzed at ALS Chemex in Lima (a certified laboratory) using a four-acid digestion and atomic absorption method for copper and molybdenum, as well as a multi-element ICP analysis. Analysis for gold is done by a fire assay and atomic absorption finish on ten percent of drill core samples from the Aguila drill holes. The company has a QA/QC protocol in place which includes the use of certified standards, blanks, and duplicate samples, as well as secure care and custody of samples.
Duran Ventures Incorporated 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., President of Duran, is a Qualified Person as defined in National Policy 43-101, and 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"
Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's expectations are disclosed in the Corporation's documents filed from time to time with the TSX Venture Exchange and, among others, the Ontario Securities Commission as well as under the heading "Risk Factors" in the Company's annual and interim Management Discussion and Analysis.
To view the Aguila Cu-Mo Porphyry Drill Hole Location Map, please visit the following link: http://media3.marketwire.com/docs/aguila0113a.jpg
To view the Aguila Cu-Mo Porphyry Cross - Section 10050N, please visit the following link: http://media3.marketwire.com/docs/aguila0113b.jpg
To view the Aguila Cu-Mo Porphyry Cross - Section 10000N, please visit the following link: http://media3.marketwire.com/docs/aguila0113c.jpg
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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