Business
Duran Ventures Leases Permitted Gold-Silver Mining Concession in Northern Peru
Toronto, Ontario--(Newsfile Corp. - March 12, 2018) - Duran Ventures Inc. (TSXV: DRV) ("Duran" or the "Company") is pleased to announce that the Company has ent
About this update from Peruvian Metals Corp.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - March 12, 2018) - Duran Ventures Inc. (TSXV: DRV) (\"Duran\" or the \"Company\") is pleased to announce that the Company has entered into a ten year Mineral Assignment Agreement (\"the Lease\") with a Peruvian National for the right to explore, develop and extract from a 300 hectare concession located in the La Libertad Department in Northern Peru. The concession has a mining operational certificate allowing for the extraction of mineralized material from the property. The certificate is currently considered dormant but can be reactivated upon request. Duran owns two concessions totalling 727 hectares contiguous with the 300 hectare property. The property is located about 3 hours by truck or approximately 90 kilometers by a combination of highway and dirt road from Duran's 80% owned Aguila Norte Plant (the \"Plant\"). The concessions are located within the Tertiary aged Calipuy Volcanic complex. This volcanic unit hosts several prolific gold producers in Northern Peru including Newmont's Yanacocha and Barrick's Laguna Norte and Pierina mines. Gold-Silver mineralization on the property is considered to be similar to the past producing Machacala Au-Ag and the current producing Salpo Mine located in area. A well-defined structure hosts the Au-Ag mineralization on the property. The structure is observed to have a strike length of at least 700 metres and dips between 70° to 80°. A 41 metre shaft was developed in the early 2000's and is still accessible. Underground development consists of three short drifts on different levels extending along strike totaling 86 metres. The bottom 41 metre level was not accessed. However a sample taken by the Company's geologist at the end of the drift on the 24 meter level returned 5.12 g/t Au (0.16 oz/t Au) and 1535 g/t Ag (49.35 oz/t Ag) over a 0.60 meter width. Historic reports are available regarding previous sampling of the underground working. Ten non-systematic samples were taken in 2003 at various underground sites with a reported vein width ranging between 0.30 and 0.80 meters. Gold results reported in the report ranges between 4.16 g/t Au to 16.78 g/t Au averaging 8.8 grams Au/t over a weighted average width of 0.66 meters. Silver results over the same average width ranges between 111 g/t Ag to 1,038 g/t Ag averaging 412 g/t Ag. ...