Duran samples up to 1.75% copper at Aguila

2009-11-02 10:02 ET - News Release

Mr. Jeffrey Reeder reports

DURAN VENTURES PROVIDES EXPLORATION UPDATE ON THE AGUILA COPPER AND MOLYBDENUM PROJECT

Duran Ventures Inc. has released an exploration update on the Aguila project. Val d'Or Geophysics del Peru SAC began fieldwork on Sept. 24, 2009, on a deep induced polarization, resistivity, magnetic and gamma spectrometry survey. The program covers an area approximately 2.0 kilometres by 3.0 kilometres from the Aguila to Pasacancha zones. The company increased the coverage of the induced polarization/resistivity survey from 16-line kilometres to 26-line kilometres by changing to a 3-D survey array. This provides more detailed information over the survey area and helps with the geological interpretation.

The gamma spectrometry method measures different radiation wavelengths of radioactive elements, including uranium, thorium and potassium. The potassium spectrometry map indicates widespread anomalies, notably stronger where associated with known intrusive bodies. This is very significant for Duran, as it indicates a large surface expression of potassium enrichment, which is an important alteration component of large porphyry copper systems.

The magnetic survey measures content of magnetic minerals in rock, usually either magnetite or pyrrhotite. These can be original (in the case of some sediments), or introduced with an ore-forming event. In the case of many copper porphyry systems, the alteration system may destroy the magnetic minerals. This appears to be the case at Aguila: a large circular magnetic low surrounds the main Aguila body. The size of this area is significant, as it shows a very large radius of influence and alteration of the main intrusive.

INDUCED POLARIZATION is a geophysical method where electrical current is introduced into the ground, and metallic minerals become polarized, or take on a charge. The method measures the characteristics of the electrical discharge or decay. RESISTIVITY in the rock is measured at the same time, which measures how resistive the rock is to electrical current passing through. These methods are used to determine disseminated sulfide content, as well as indicate possible strength of alteration in the rock. The IP data is currently being processed, but a preliminary resistivity map at 200 metres depth is shown on MAP 3. The Aguila and Pasacancha areas correspond to an area of resistivity low. The anomaly in the Aguila area is notably larger than the main Aguila zone and roughly corresponds to the area of magnetic low suggesting widespread alteration. The Aguila West zone is interesting, as a northwest-southeast trending corridor of resistivity low may indicate a dyke-like body here.

One representative IP pseudosection at line 5800E is included here (see SECTION 4), and falls between the Aguila and Aguila East areas. The IP chargeability is very strong, and indicates disseminated sulfide mineralization. It is notable because it extends outward from the area of the main Aguila intrusive, by 600 metres to the south and 200 metres to the north, and is also notably larger at depth than at the surface. A dotted dark blue line marks this: a dotted black line marks the approximate vertical projection of the Aguila intrusive. It should be noted that this section is an example only and that similar IP chargeability and resistivity anomalies occur on every line. This data requires careful processing and interpretation, which is ongoing. The pseudosections received to date indicate that strong IP chargeability anomaly or anomalies cover much of the three-kilometer east to west width of the survey area. The size and intensity of these geophysical anomalies point to a very widespread and strong alteration and mineralizing system in this area, considerably larger than what is currently known in the Aguila and Pasacancha areas. It appears that the Aguila and Pasacancha systems are related, as was suspected by Company geologists. The Company is extremely pleased at these encouraging preliminary geophysical results. They highlight the size and strength of the mineralizing system in the Aguila-Pasacancha area and confirm the potential of the area. Val D'Or is processing the remainder of the new IP information and will provide Duran with an update shortly.

Company geologists have been conducting surface sampling as the geophysical work was proceeding. Most of the first 74 samples are panel-type chip samples collected from outcrops of dioritic intrusive rock, with individual samples taken over areas varying from 1x2 to 5x5 metres. All samples are from the Aguila, Aguila East, and Aguila West areas, and average 0.24% copper. Values range from 247 to 17,500 ppm (or 0.024% to 1.75% copper). At an exploration level for porphyry copper deposits, surface samples of over 100 ppm copper are considered significant anomalies. Current sampling in the Aguila area show that 53 of the 74 samples returned values over 1000 ppm copper (0.1% Cu). Molybdenum values range up to 408 ppm (or 0.040% Mo), but are generally lower than the averages of the Aguila intrusives.

These results are very encouraging and show that the mineralized system at Aguila covers a much larger area than just the main Aguila intrusive body (please refer to MAP 5 below). The sampling program is ongoing, and will cover the same area as the geophysical survey between Aguila and Pasacancha.

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                          AGUILA SURFACE SAMPLING
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   RANGE OF VALUES (Cu)                         247 - 17,500 ppm Cu
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   # VALUES +100 ppm Cu                                  74
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   # VALUES +1000 ppm Cu                                 53
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   RANGE OF VALUES (Mo)                          trace - 408 ppm Mo
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   # VALUES +10 ppm Mo                                   60
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   # VALUES +100 ppm Mo                                  13
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   AVERAGE OF ALL SAMPLES                      2464 ppm Cu, 62 ppm Mo
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   TOTAL NUMBER OF SAMPLES                               74
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A channel sampling program was initiated over the Aguila East intrusive body. The plan was designed to test copper and molybdenum mineralization over the area by collecting continuous channel samples using a diamond saw. The program will include 4 parallel lines separated by 50 metres between lines, covering an area of approximately 150 x 200 metres. The sample collection procedure is to cut a 20 centimeter wide channel to a depth of 5 centimeters with a diamond saw, chisel out the rock, and quarter the material down to suitable laboratory sample size. Most samples were 3 metres in length. The quality of the continuous channel sampling method is considered to be equal to a drill hole. The results from this Sample Line A over the entire 113.5 meter length sampled averaged 0.20% copper, with one 27 meter interval averaging 0.29 % copper. Molybdenum values are considered low for the area and averaged 74 ppm. The sample results demonstrate very consistent grades over the sampled length, and confirm the importance of the Aguila East area as part of the Aguila mineralized system

The Company is very pleased with these new sampling results, as they confirm that the copper and molybdenum potential of the Aguila deposit extends over a considerably larger area than was previously demonstrated. The geophysical survey clearly demonstrates the size potential of the Aguila system. Company geologists believe that strong new drill targets will be defined when sampling results are combined with anomalies from the geophysical program.

Duran is a Canadian exploration company focused on the exploration and development of porphyry copper, precious metal, and polymetallic deposits in Peru. Strong copper and molybdenum prices are cause for renewed focus on the Company's flagship project, the Aguila Copper Molybdenum Porphyry.

All rock samples were prepared and analyzed at Inspectorate Services Peru S.A.C. in Lima (a certified laboratory) using an aqua regia digestion and atomic absorption (AQR/AA) method. The company has a QA/QC protocol in place, including the use of certified standards and secure care and custody of samples.

Cary Pothorin, P. Geo., President of Duran, is a Qualified Person as defined in National Policy 43-101, and is responsible