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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 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.

Duran Ventures Inc. Provides Update on 2014 Exploration Programs on Don Pancho, Panteria, and Ichuña Projects in Peru

Duran Ventures Inc. provided an exploration update on its Don Pancho, Panteria, and Ichuña projects in Peru. Don Pancho Polymetallic Silver-Lead-Zinc Project: Duran's partner on the Don Pancho Project terminated the Option agreement on the Don Pancho Project located in the department of Lima. The Optionee drilled 6 diamond drill holes totaling 2,021 metres. The final results from the drill program have been received and the data shows that several Pb-Zn-Ag intervals were intersected. All six holes were drilled with azimuths between 230deg and 240deg with various inclinations. Drill holes 1 thru 5 were drilled at the southern end of an extensive brecciated zone. Drill hole 6 was drilled approximately 600 meters north of the southern drill holes and intersected approximately 40 meters of 0.88% Zn, 0.40% Pb and 7.7 grams Ag/tonne. The mineralization starts approximately at the overburden and rock contact at 55.10 metres and ends at 99.60 metres. No samples were taken from 84.30 to 88.80 metres and drill logs show no geological information. Hole 6 was drilled to a depth of 350.6 metres and only 14 samples were taken, totaling 19.95 metres of core length over the final 156 metres. The company's field review of the exploration results shows that the direction of the drilling was perpendicular to the fold axis of the local and regional stratigraphy. The company believes this was not the most optimal direction for drilling. The stratigraphy is tightly folded in the project area and regional NNE-SSW compression will result in en-echelon openings, cross cutting stratigraphy which will allow mineralizing fluids to circulate. Structural analysis on the geology coupled with previous experience in this area suggests that the drilling may have been drilled sub-parallel to any potential mineralized zones. The company intends to re-interpret the structural controls on the mineralization to further understand the geological model, which will aid in defining new drill targets. The company is excited by the first phase drill results which demonstrate the potential for significant Pb-Zn-Ag mineralization at the property. Drill location maps will be updated on the company's website shortly. Diamond drill core from the Don Pancho Project was photographed and cut with one half of the core delivered directly to the analytical laboratory and the other half stored in Lima for future reference and assay verification. Assaying was carried out by ALS Minerals, a laboratory whose quality control system complies with International Standards ISO 9001:2000. Samples were analyzed for 35 Element Agua Regia ICP and with ore grade Ag, Zn and Pb Agua Regia. Analysis for gold is done by a fire assay with an atomic absorption finish. The Optionee had a QA/QC protocol in place which includes the use of certified standards, blanks, and duplicate samples. Panteria Copper-Gold Project: the company mobilized a technical crew to conduct a detailed mapping and sampling campaign. An extensive geophysical survey was completed by Real Eagle Exploration EIRL. The survey was comprised of 33.5 line kilometres of induced polarization (IP) and over 171.25 kilometres of magnetic and a differential GPS survey. Geological mapping coupled with rock, soil and stream geochemical sampling and is expected to be completed in September. The geological and geophysical information will allow for the definition of drill targets and will verify geological modelling. The 2014 exploration budget for Panteria is $250,000 with a 10% contingency.


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