(Toronto, Ontario – March 1, 2016) Duran Ventures Inc. (TSXV: DRV; BVL: DRV) (“Duran” or the “Company”) is pleased to provide a progress report on the construction of its 80% owned 100-tonne-per-day Aguila Norte mineral processing plant located in Northern Peru. The Company expects to finish construction of the plant by the end of March 2016. The commissioning phase would then start in early April with processing of third party mineral to commence shortly thereafter.
The civil works were completed in late 2015 to provide the base for the primary crushers and for the 6’ X 6’ ball mill. The primary and conical mineral crushers as well as the ball mill were delivered to site in mid-January and established on their respective concrete foundations.
The construction of the concrete foundations for the flotation cells, reactant tanks and secondary crushing circuit was completed in February. The remaining equipment – including the flotation cells – is built and purchased and is expected to be delivered to site shortly.
The surface rights agreement with the Peruvian government has been expanded and now includes the area where a long-term tailings storage will be located. The civil works for the tailings dam started in mid-February and is expected to be completed by the end of March. The initial capacity of the tailings area will be one year but will be expanded in the third quarter, 2016 to a capacity of an additional 5 years. Due to its favourable topography, the area can sustain increases to its tailings holding capacity to +20 years.
Duran is also pleased to announce that mineral purchases have commenced. The Company is currently reviewing additional sources of mineral with the objective of stockpiling a sufficient inventory of mineral to be processed once the plant commissioning phase is complete. The Company is very careful on the type of mineral being purchased. In order to process mineral, both proper documentation and metallurgical work are required from mineral suppliers. Currently, the Company is conducting detailed metallurgical work on several prospective mineral sources and working with small miners to improve metallurgical and logistical efficiencies in return for profit sharing agreements.
The Company will provide further updates as the plant construction approaches its final stages.
Jeffrey Reeder, P.Geo., and a qualified person as defined in National Instrument 43-101, is responsible for all technical information contained in this news release.
Duran Ventures Inc. is a Canadian exploration company focused on mineral processing and the exploration and development of precious and base metal properties in Peru.
Duran Ventures Inc. is a Canadian resource company listed on the
TSX Venture Exchange and the Bolsa de Valores de Lima: Symbol “DRV”
For additional information, contact: Jeffrey Reeder Tel: (647) 302-3290
or Oscar Pezo at (011) 511 422-1467
Website: www.duranventuresinc.com Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclosure Regarding Forward-Looking Statements: This press release contains certain “Forward-Looking Statements” within the meaning of applicable securities legislation. We use words such as “might”, “will”, “should”, “anticipate”, “plan”, “expect”, “believe”, “estimate”, “forecast” and similar terminology to identify forward looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward looking statements and forward-looking information.