(Toronto, Ontario – November 4, 2014) Duran Ventures Inc. (TSXV: DRV; BVL: DRV) (“Duran” or the “Company”) is pleased to provide an update on its 100% owned Panteria Cu-Mo-Au-Ag porphyry project located 210 kilometres 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 kilometres south and 4.5 kilometres 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 kilometres 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 kilometres 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.
Further detailed geological explanations and maps can be viewed on Duran’s website located at: http://www.duranventuresinc.com/panteria.php. Ryan Grywul, 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 the exploration and development of porphyry copper, precious metal, and polymetallic deposits 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
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.