Business
Duran Ventures Considers Strategic Alternatives for Its Huachocolpa Assets
TORONTO, ONTARIO--(Marketwired - Oct. 30, 2015) - Duran Ventures Inc. (TSX VENTURE:DRV) (LMA:DRV) ("Du ran" or the "Company") is pleased to provide an update on
About this update from Peruvian Metals Corp.
[{"type":"text","content":" TORONTO, ONTARIO--(Marketwired - Oct. 30, 2015) - Duran Ventures Inc. (TSX VENTURE:DRV) (LMA:DRV) (\"Du ran\" or the \"Company\") is pleased to provide an update on its 100% owned Huachocolpa precious and base metal properties (\"Huachocolpa\" or the \"Properties\"). The Properties consist of 82 contiguous and non-contiguous mining concessions totalling 2,980 hectares (\"ha\") located within the historic Huachocolpa Mining District in the Department of Huanavelica, Peru, some 260 kilometres (\"km\") southeast of Lima. There is paved road access from Lima (via the coastal town of Pisco) totalling 445 km up to the Chonta Pass. From there a number of gravel roads service the Properties. The Properties acquired in January 2015 (refer to news release dated January 20th, 2015) are 100% owned with no underlying royalties. Duran's current objective at Huachocolpa is to advance its technical knowledge of the Properties while minimising impact on the Company's cash reserves which are primarily committed for the construction of the Aguila Norte flotation plant in the north of the Peru (see news release dated October 16, 2015). Duran is committed to establishing a sustainable business model whereby its Aguila Norte processing plant will complement its exploration expertise and portfolio of mineral assets, such as Huachocolpa. With this in mind the Company will evaluate and consider the following options: Contract Mining and toll treating its high grade material at one of the operating flotation plants in the vicinity of the Properties. Commence permitting for installation of a flotation plant to treat high grade material from Duran's properties plus several of the nearby artisanal mine workings in the district. Associate with one of the existing small-scale producers in the district to build a joint district-wide toll milling facility. Seek a Joint venture partner who would fund exploration and development on the Properties with Duran receiving cash payments and royalty on production. Associate with a 3rd party investment syndicate or fund to make a strategic investment in the district combining a number of small mining operations The Huachocolpa Mining District is host to several producing and past-producing vein hosted polymetallic, base metal (silver-zinc-lead-copper plus or minus gold). Polymetallic mining and milling continues to be t...