Canadian-based Duran Ventures has expanded the areas of known copper and molybdenum mineralization of its Aguila project located in the department of Ancash in north-central Peru, after finishing the final eleven drill holes of the 2011 drill program, the company reported.
Drilling has intersected mineralization over 800 metres in an approximately east-west direction, 400 metres in a north-south direction, and over 1000 metres vertically.
Limits on the size of the mineralized system have not been fully established, with numerous geological, geochemical, infill, and geophysical targets remaining to be drill tested at this large property, added the company.
Further drilling is required to define the ultimate shape, size and orientation of the Aguila Copper-Molybdenum Porphyry system.
According to Duran Ventures, a total of 15,175 metres were drilled in 27 diamond drill holes from April 18th to October 19th, 2011. Meanwhile, a cumulative total of 23,929 metres of core have been drilled by the company at the Aguila project from 2007 to 2011.
Data from all the holes will be included in the preliminary NI 43-101 compliant resource estimate now being prepared by SRK Consulting. The company expects to receive the SRK report in the first quarter of 2012.
The preliminary metallurgical test work currently being carried out by G & T Metallurgical Services Limited of Kamloops, British Columbia, Canada is expected to be available at the same time.
The 119.5 metre interval from 161.5 to 281.0 metres depth returned 0.32% Cu and 0.008% Mo (0.38% Cu equivalent).
At the same time, Compañia Minera Milpo S.A.A. is advancing development work at the Magistral copper – molybdenum porphyry and skarn deposit, located some 40 kilometres to the north of Aguila.