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Duran Ventures Acquires the Minasnioc High Sulphidation Gold Project with Surface Values up to 2.9 Grams Gold per Tonne
Duran Ventures Acquires the Minasnioc High Sulphidation Gold Project with Surface Values up to 2....
About this update from Barrick Mining Corporation
[{"type":"text","content":"\nDuran Ventures Acquires the Minasnioc High Sulphidation Gold Project with Surface Values up to 2.9 Grams Gold per Tonne\n\n\n May 25, 2010 (TheNewswire.ca) -- TORONTO, CANADA - May 25, 2010 - Duran Ventures (TSXV:DRV) Inc. (\"Duran\" or the \"Company\")(TSX-V: DRV) is pleased to announce that the Company has acquired the Minasnioc Gold Project in a closed-bid government auction on May 20th, 2010. A Peruvian subsidiary of Barrick Gold Corporation (NYSE:ABX) (TSX:ABX) (\"Barrick\") and a private Peruvian mining company were also competing for this property. The concession covers 1000 hectares in the Department of Huancavelica, approximately 300 kilometres southeast of Lima. This project has seen previous intensive exploration campaigns by Barrick and Compañia de Minas Buenaventura S.A.C. (\"Buenaventura\") between 2001 and 2007, which included surface channel sampling and drilling.Company geologists have made initial property visits and have defined a high sulfidation (acid sulphate) epithermal gold and silver bearing system developed in Tertiary volcanic rocks. Extensive zones of argillic and advanced argillic alteration are present, with areas of massive and vuggy silica with associated alunite. The gold-silver bearing part of the epithermal alteration system covers an area of two by two kilometers. This age of the volcanic host rocks and style of mineralization is similar to Barrick's Pierina and Alto Chicama Mines and Newmont and Buenaventura's Yanacocha Mine in Peru.Initial rock chip sampling by the Company shows widespread anomalous gold values with associated silver, arsenic, barium, lead, mercury, and antimony geochemical anomalies, which are typical of an altered precious metal bearing system. Samples were collected as one to four-metre rock chips and panel samples ranging from two by two metre to five by five metre panels. 21 of 35 samples returned assays greater than 0.1 grams of gold per tonne, with values as high as 2.96 grams of gold per tonne. 28 of 35 samples returned silver values of greater than 1.0 gram of silver per tonne, 11 samples returned values of greater than 10.0 grams of silver per tonne, and one sample returned a high value of 70.6 grams of silver per tonne. Sample highlights are shown below.\nSAMPLE NUMBER SAMPLE TYPE LENGTH (m) Au Ag \n(g Au/T) (g Ag/T) \n \n526 Rock Chip 2.0 1.38 41.5 \n527 R...