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Last C$0.03 CAD
Change Today 0.00 / 0.00%
Volume 65.7K
As of 1:53 PM 04/17/15 All times are local (Market data is delayed by at least 15 minutes).

duran ventures inc (DRV) Snapshot

Open
C$0.03
Previous Close
C$0.03
Day High
C$0.03
Day Low
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52 Week High
04/15/15 - C$0.04
52 Week Low
11/11/14 - C$0.0050
Market Cap
7.0M
Average Volume 10 Days
309.5K
EPS TTM
C$0.02
Shares Outstanding
234.1M
EX-Date
--
P/E TM
1.3x
Dividend
--
Dividend Yield
--
Current Stock Chart for DURAN VENTURES INC (DRV)

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duran ventures inc (DRV) Details

Duran Ventures Inc., a mineral exploration company, engages in the acquisition, exploration, and development of porphyry copper, molybdenum, precious metals, and polymetallic deposits in Peru. The company explores for copper, molybdenum, gold, silver, lead, and zinc deposits. The company holds interest in the Ichuña Copper-Silver project covering 1,000 hectares located to the northeast of Arequipa in the Department of Moquegua in Southern Peru; the Don Pancho Project covering an area of 800 hectares located in a polymetallic mineral belt in Central Peru; Minasnioc Property consisting of various contiguous concessions covering 6,900 hectares; the Panteria Cu-Mo-Au porphyry project located to the southeast of the city of Lima, Peru; and the Mamaniña property consisting of 8 concessions comprising 4069 hectares located in the Province of Huaylas in the Department of Ancash, Peru. The company was formerly known as Duran Gold Corp. and changed its name to Duran Ventures Inc. in August 2000. Duran Ventures Inc. was incorporated in 1997 and is based in Toronto, Canada.

Founded in 1997

duran ventures inc (DRV) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: --
Chief Financial Officer and Secretary
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

duran ventures inc (DRV) Key Developments

Duran Ventures Signs Memorandum of Understanding for Tolling Operation in Peru

Duran Ventures Inc. announced that it has signed a non-binding memorandum of understanding (MOU) with a private Peruvian company to design and establish a toll milling operation in Northern Peru. The site of the proposed facility has been established and is located on concessions already owned by the Peruvian local company. This company has initiated the permitting process for a proposed 100 ton per day facility. Duran has reviewed the current permit and has determined that further modification to the current permit application will be required to accommodate a variety of high grade gold ores to be sourced from northern Peru. Furthermore, a modification to the current application should allow the company to expand to a maximum of a 350 ton per day operation. There is access to water and power at the site that is located near the city of Trujillo, 10 kilometres from the main Panamerican Highway which runs the length of the country. The location of the proposed toll milling facility is viewed as strategic by Duran. Many tolling operations in Peru are located in the south, more specifically, in the Nasca and Chala areas located 990 and 1,150 kilometres south of the proposed facility. Many of the southern toll mills accept high grade gold ore often exceeding one ounce gold per tonne delivered from northern Peru. The proposed location will offer formalized (legal) miners, located proximal to this new site, an alternative facility to process their ore. It is important to note that with the MOU in place the company plans to conduct all the due diligence and engineering plans for the new proposed facility with constructions costs and timelines. Included in the terms of the MOU is the assignment (subject to a 2% NSR) of several concessions (10,020 hectares) located in northern Peru. Importantly, nine of these concessions (7,800 hectares) are located in the Tayabamba - Pataz gold region located approximately 300 kilometres east of Trujillo. Three well established Peruvian gold miners are active in the Pataz and Tayabamba region along with many small legalized miners. Mining in this region has been continuously focused on high grade gold mineralization for almost 6 decades. Public information from the Peruvian Ministry of Mines shows 2014 gold production records from the three main gold miners as follows; Consorcio Minero Horizonte S.A. - 247,000 ounces, Minera Aurifera Retamas S.A. - 181,057 ounces, and Compañia Minera Poderosa S.A. - 156,376 ounces. Duran plans to assess these properties for exploitation potential and will assist small scale informal miners to formalize their activities and to offer an alternative and more strategic location for ore processing. Furthermore, Duran is currently assessing its existing portfolio of gold properties for potential exploitation and delivery of mineralization to its new proposed facility. Duran views this new initiative as a solid step toward establishing a sustainable business model that will complement its exploration expertise and portfolio of mineral assets.

Duran Ventures Inc. Acquires Seven Additional Mineral Concessions

Duran Ventures Inc. announced that seven additional mineral concessions have been acquired by application in late 2014 and early 2015 expanding the company’s Minasnioc Au/Ag Property land position to 6,900 hectares (69 sq. km). The near surface mineralization appears to be open to the west and southwest as historic drill holes P-02 and P-07 intersected respectively: 55.78 metres of 0.55 g/t Au from surface and 61.40 metres of 0.51 g/t Au starting at 5.65 metres. Within the mineralized zone, high grade intercepts include drill hole P-16, located on the eastern portion, returning 1.15 g/t Au and 9.70 g/t Ag over 17.70 metres starting at 28.55 metre depth, and P-23 returning 1.24 g/t Au and 13.9 g/t Ag over 47 metres starting at a depth of 142.9 metre depth. It must be noted that the drill results are historical in nature and therefore are not 43-101 compliant and cannot be relied on. Duran also announced that several prospective mining concessions were purchased for $99,000 to cover three areas totaling 2,904 hectares located in the historic Huachocolpa Mining District 250 kilometres southeast of Lima in south-central Peru. The package of concessions contains numerous high grade precious and base metal veins and breccias hosted in Tertiary volcanic rocks. Numerous small miners are operating in the area and there are several local plants to treat the ores nearby. The company plans to map and sample the veins and mineralization once the weather is favourable.

Duran Ventures Inc. Provides Update on Exploration Program at Panteria Copper - Gold Project

Duran Ventures Inc. announced that the company to provide an update on its 100% owned Panteria Cu-Mo-Au-Ag porphyry project located 210 kilometers southeast of the city of Lima, in the Huancavelica Department of the Republic of Peru. The Panteria project comprises 7,200 hectares in 15 mineral concessions. Surface exploration during the summer of 2014 has resulted in expanding the porphyry target at the Panteria Zone and the discovery of two new zones located 1.2 kilometers south and 4.5 kilometers east of the main Panteria Zone. The company completed an extensive geological mapping and sampling program comprising of 1008 rock samples along with an extensive geological and geophysical program that resulted in the identification of the three prospective zones. The main Panteria Zone suggests that the covered porphyry exists beneath a well defined lithocap. During 2014, the first ever induced polarization (IP) survey, coupled with conceptual geological modeling, confirmed and amplified porphyry targets on the main Panteria Zone. Geophysics has highlighted a strong chargeability (>44 mV/V) anomaly surrounding a resistivity and magnetic high that is located more than 500 meters from the historic drilling. This geophysical anomaly is greater than 800 metres in width and shows a classic porphyry style geophysical IP signature with corresponding magnetic high. The high chargeability response reflects a pyrite shell exposed in lower elevations. The target now requires drilling to determine the level of the porphyry. The 2014 exploration program resulted in the definition of two new zones. One zone, the Kiosko Zone, is located 1,200 metres south-southeast of the historic drilling and shows a broad structurally controlled geochemical anomaly with dimensions of 1,800 metres by 500 metres located 1,200 metres south-southeast of the historic drilling. Sampling and mapping suggests the presence of an east-west fractured mineralizing hydrothermal system showing elevated gold, silver, and molybdenum. In total, 123 samples were taken from this zone where 19 samples range between 0.1 and 1.075 g/t Au averaging 0.231 g/t Au. The second zone, the Ronaldo Zone, was discovered this year while prospecting creeks and is located 4.5 kilometers east of the main Panteria Zone. Follow up sampling and mapping encountered gold and silver mineralization in a high sulphidation lithocap that is hosted in shallow dipping volcanics at higher elevations. At lower elevations, creeks expose hydrothermal breccias and quartz-pyrite-pyrrhotite-magnetite stockwork with locally anomalous gold values. Similar to the Panteria Zone, outcropping, advanced argillic altered volcanic rocks at the Ronaldo Zone include tourmaline and dumortierite that stratigraphically overly the breccias. Detailed mapping was completed over a part of the high sulphidation mineralization at the Ronaldo zone and 259 rock samples were collected in an area measuring 1 X 2 kilometers. Of the 259 samples, 8 samples returned assay values between 1.07 and 4 g/t Au with an average of 1.76 g/t, 19 returned values between 0.51 and 0.995 g/t Au with an average of 0.732 g/t, and 27 assayed between 0.113 and 0.475 g/t Au with an average of 0.239 g/t. Silver assay results are also encouraging. Of the 259 samples, 13 samples assayed between 31 g/t Ag and 490 g/t Ag with an average of 93.98 g/t, 11 samples assayed between 16.3 g/t and 29.4 g/t Ag with an average of 22.25 g/t, 19 samples assayed between 5.4 g/t Ag and 14.4 g/t Ag with an average of 10.06 g/t, and 18 samples assayed between 2.5 g/t and 5 g/t silver with an average of 3.63 g/t. Eleven of the 259 samples analyzed between 110 ppm Mo and 802 ppm Mo with an average of 272 ppm. A broad colour anomaly is present over the area with approximate dimensions of 14 square kilometers that requires follow up exploration. Quality Control and Assays: Sample collection in the field was accompanied by industry standard documentation including sample location, type, width, and description. All samples were delivered to Inspectorate Services SAC in Lima, Peru by geologists or employees of Duran Ventures. Inspectorate is an ISO certified laboratory. At Inspectorate, the samples were crushed, pulverized, split, and assayed for gold by fire-assay with atomic absorption finish and 44-element aqua regia digestion ICP emission spectrometry or 44-element four acid digestion ICP emission spectrometry. Samples containing greater than 200 parts per million silver were reanalyzed with an atomic absorption finish. A secondary laboratory will be used for check assays.

 

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