TORONTO, ONTARIO - (July 28, 2008) - George A. Brown, CEO of Duran Ventures Inc. (TSX VENTURE:DRV) and of MacMillan Gold Corp. (TSX VENTURE:MMG), is pleased to announce that a second diamond drill has been contracted to begin drilling at the Pasacancha Target in Ancash, Peru. The Pasacancha Target can be described as a polymetallic Ag-Pb-Zn rich stockwork and vein system developed in and along the contacts with a sheared dioritic intrusive body. Cary Pothorin, P.Geo., President of Minera Aguila de Oro SAC and David Bending, P.Geo., are both Vice Presidents of Duran Ventures and of MacMillan Gold, are Qualified Persons as defined in National Policy 43-101, and are responsible for all technical information contained in this joint news release.
Perfomin EIRL of Peru was contracted to provide a Longyear 44 for an initial 5,000 metres. The drill is scheduled to arrive on site August 6, 2008 and to commence immediately upon installation. The Company expects to complete all drilling planned on the B Permit by mid-October with one drill from Iguana Drilling and one from Perfomin. The C Permit application submitted by the Company was reviewed by the granting authorities and their written observations were received. A Peruvian engineering and environmental consulting firm engaged by the Company has completed and submitted a report responding to all observations within the required administrative deadline. The report was delivered to the Ministry of Energy and Mines on July 18th. The C Permit application is for 160 drill holes from 80 drill platforms with 64,000 metres of drilling over 24 months. The Company is working towards receiving approval of the C Permit very soon after the mid-October expiry of the B Permit. The Company prefers to receive the C Permit after completion of the B Permit drilling since drill holes permitted in the B Permit do not transfer to the C Permit if not completed.
The first Pasacancha hole is targeted on Ag-Pb-Zn mineralization which has been delineated by underground sampling and mapping projects. The hole will be located at site PLT-11 as shown on the attached map, and will be drilled to the southwest at an inclination of -50 degrees. Previous drilling attempts at Pasacancha were unsuccessful due to strongly brecciated, silicified quartzite and siltstone sediments. The drill holes in the current plan are designed to be collared in diorite intrusive material in an attempt to avoid encountering this problem.
In total, six drill holes totaling approximately 2,500 metres are planned for this initial test of the Pasacancha. The holes were planned based on surface mapping and underground sampling and mapping. The holes will test part of the length of the north-south trending mineralized system and will be modified based on results as drilling progresses. Previous underground sampling results from the 3790 level described in a joint news release dated March 17, 2008 include:
- 81.4 g Ag/t, 0.9% Pb, and 3.9% Zn across 15 metres (8 metres true width)
- 345.9 g Ag/t, 0.57% Pb, and 0.74% Zn across 23.4 metres (14 metres true width)
- 172.7g Ag/t, 2.0% Pb, and 1.6% Zn across 22.3 metres (13 metres true width)
Further underground sampling is progressing towards the north in the Shoguebamba area with the potential to extend the Pasacancha system significantly to the north.
Aguila Hole 9 was drilled for 485.4 metres towards the west and Aguila Hole 10 is currently drilled 574.8 metres towards the east from the same drill platform on the same section line. This is designed to determine the distance at depth between the west contact and the east contact. The results for Hole 9 and Hole 10 will therefore be news released together once this distance has been determined.
Investors are invited to visit the MacMillan Gold IR Hub at www.agoracom.com/IR/MacMillan where they can post questions and receive answers or review existing questions and answers. Investors may also email questions or request to be added to the investor email list at MMG@agoracom.com .
Duran Ventures Inc. and MacMillan Gold Corp. are Canadian resource companies
listed on the TSX Venture Exchanges: Symbols "DRV" & "MMG".
To view the map associated with this release please visit the following link: http://media3.marketwire.com/docs/dr...
The TSX Venture Exchange has not reviewed and accepts no responsibility for the adequacy or accuracy of this news release.
CONTACT INFORMATION:
MacMillan Gold Corp. & Duran Ventures Inc.
George A Brown
CEO
(416) 867-1101
Fax: (416) 867-1222
Email: duranventures@ca.inter.net
Email: macmillangold@ca.inter.net