Duran Ventures Inc announced the results from the final eleven drill holes of the 2011 drill program at the Company's 100% owned Aguila Porphyry Copper and Molybdenum Project which is located in the Department of Ancash in north central Peru some 400 kilometers northwest of Lima.
The Company is very pleased with the results from the 2011 diamond drill program which has expanded the areas of known copper and molybdenum mineralization both in plan and in depth. Drilling has intersected mineralization over 800 meters in an approximately east west direction, 400 meters in a north south direction and over 1000 meters vertically.
Limits on the size of the mineralized system have not been fully established with numerous geological, geochemical, infill and geophysical targets remaining to be drill tested at this large property. Further drilling is required to define the ultimate shape, size and orientation of the Aguila Copper and Molybdenum Porphyry system.
A total of 15,175 meters were drilled in 27 diamond drill holes from April 18th to October 19th 2011. A cumulative total of 23,929 meters of core have been drilled by the Company at the Aguila Project from 2007 to 2011. Please refer to Company news releases reporting earlier drill results dated June 6th, 28th, August 5th and September 15th.
Data from all the holes will be included in the preliminary NI 43-101 compliant resource estimate now being prepared by SRK Consulting. The Company expects to receive the SRK report in the Q1 of 2012. Preliminary metallurgical test work currently being carried out by G & T Metallurgical Services Limited of Kamloops, British Columbia, Canada is expected to be available at the same time.
A surface channel sampling program is continuing at the Aguila Project. The samples are being collected using a diamond saw to cut a continuous 4 to 6 centimeter wide channel in rock at surface to a depth of 4 to 6 centimetres. The sample is then collected by breaking the rock out with chisels and sledge hammers. This sample method is deemed to be equivalent in sample quality to diamond drill core by SRK and data from this program will also be incorporated into the resource calculation.
Two drill holes targeted mineralization in the Aguila East area at different elevations, 11AGD035 and 11AGD038. Hole 11AGD035 was drilled from the same platform as holes 11AGD030 and 33, at an azimuth of 30 degrees and inclination of -70 degrees to a final depth of 450.7 meters. The 119.5 meter interval from 161.5 to 281.0 meters depth returned 0.32% Cu and 0.008% Mo.
Hole 11AGD038 was drilled on section 10100N at an azimuth of 70 degrees, inclination of -70 degrees to a final depth of 581.6 meters. The 352.4 meter interval from 2.1 to 354.5 meters depth averaged 0.19% Cu and 0.015% Mo (0.30% Cu equivalent), which includes the 187.4 meter intersection from 2.1 to 189.5 meters depth of 0.20% Cu and 0.023% Mo.
Holes 11AGD037 and 11AGD039 were drilled on the southern side of the main Aguila intrusive body, expanding the mineralization to the south. Hole 11AGD037 was drilled on section 9900N at an azimuth of 250 degrees and inclination of -60 degrees. From surface to 245.7 meters, the 245.7 meter interval averaged 0.24% Cu and 0.045% Mo (0.55% Cu equivalent), which includes an interval from surface to 79.5 meters with an average of 0.34% Cu and 0.051% Mo.
Hole 11AGD039 was drilled on section 9800N at an azimuth of 70 degrees and inclination of -70 degrees to a final depth of 515.2 meters. From 9.6 to 313.5 meters depth, the hole averaged 0.16% Cu and 0.013% Mo over 303.9 meters including a 101.4 meter intersection from 9.6 meters to 111.0 meters of 0.23% Cu and 0.018% Mo.
Two drill holes, 11AGD036 and 11AGD040, targeted mineralization to the north side of the main Aguila intrusive body. Hole 11AGD036 was drilled on section 10200N at an azimuth of 70 degrees and inclination of -70 degrees to a final depth of 594.5 meters. From 14.7 to 381.3 meters depth, the 366.6 meters interval averaged 0.28% Cu and 0.013% Mo.
Hole 11AGD040 was drilled on section 10300N at an azimuth of 70 degrees and an inclination of -70 degrees to 525.0 meters depth. The 201 meter interval from 1.5 to 202.5 meters averaged 0.15% Cu, with no significant Mo. A 36 meter interval from 166.5 to 202.5 meters depth averaged 0.24% Cu with trace amounts of Mo.
Holes 11AGD041 through 11AGD044 were drilled to the west of the Aguila pit area from a single platform on section 10100N. The intersections here confirm the continuity of the mineralized system to the west and indicate considerable additional tonnage potential.
Hole 11AGD041 was drilled at an azimuth of 70 degrees and inclination of -70 degrees to a final depth of 491 meters. From 0.15 to 491.0 meters depth, the 490.8 meter interval averaged 0.31% Cu and 0.023% Mo, including a 234.6 meter interval from 82.5 to 317.1 meters depth averaging 0.37% Cu and 0.022% Mo.
Hole 11AGD042 was drilled directly south with an inclination of -60 degrees to a final depth of 200.1 meters. This hole was designed to test near surface mineralization in this zone. From 1.25 to 200.1 meters depth, this hole averaged 0.25% Cu with trace amounts of Mo over 198.8 meters which includes an 88.7 meter interval from 1.25 to 90 meters depth of 0.42% Cu with trace amounts of Mo.
Hole 11AGD043 was drilled to 568.5 meters depth at an azimuth of 250 degrees and inclination of -85 degrees. The 224.4 meter interval from 196.5 to 420.9 meters depth averaged 0.28% Cu with minor amounts of Mo.
Hole 11AGD044 was drilled at an azimuth of 250 degrees and inclination of -50 degrees to a depth of 150 meters. The 149.76 meter interval from 0.24 to 150 meters depth averaged 0.24% Cu with trace Mo, which includes a 39.5 meter interval from surface of 0.39% Cu with trace amounts of Mo.
