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duran ventures inc (DRV) Snapshot

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10/22/13 - C$0.03
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Market Cap
2.3M
Average Volume 10 Days
106.9K
EPS TTM
C$0.02
Shares Outstanding
234.3M
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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. It primarily holds 100% interests in the Aguila copper-molybdenum porphyry project located in north central Ancash district, 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 headquartered 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: --
Treasurer
Total Annual Compensation: C$54.6K
Consultant
Total Annual Compensation: C$25.0K
Compensation as of Fiscal Year 2013.

duran ventures inc (DRV) Key Developments

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.

Duran Ventures Commences Exploration Program at Panteria Copper-Gold Project

Duran Ventures Inc. announce that the company has signed a community agreement to initiate an exploration program on its 100% owned Panteria Cu-Au project, located approximately 220 kilometers south of Lima in the Huancavelica Department, Peru. The property comprises several concessions totaling 7,200 hectares. The Company will mobilize a technical crew to Panteria in order to conduct a detailed mapping and sampling campaign. An extensive geophysical survey will be conducted by Real Eagle Exploration EIRL which will include 25 line kilometres of induced polarization (IP) and over 100 kilometers of magnetic and a differential GPS survey. The objective of this work program is to provide sufficient geological, geochemical, and geophysical information to allow for the definition of drill targets. The company expects that the first ever induced polarization (IP) survey, coupled with conceptual geological modeling, will locate new porphyry targets on this extensive property. More specifically, an un-tested coincident geochemical, geological, and magnetic signature typical of a high level porphyry system located 500 meters east of the previous drilling suggests the potential to host a porphyry center. Further work will consist of a property wide regional sampling and mapping program. The field work is expected to be completed by mid-September.

Duran Ventures Inc. Auditor Raises 'Going Concern' Doubt

Duran Ventures Inc. filed its Annual on Apr 30, 2014 for the period ending Dec 31, 2013. In this report its auditor, McGovern, Hurley, Cunningham, LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

 

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