MacMillan Gold and Duran Ventures Report Aguila Hole 11 604.3 Metres Averaging 0.718% Copper Equivalence
22 Ottobre 2008 - 9:28PM
Marketwired
George A. Brown, CEO of both Duran Ventures Inc. (TSX VENTURE: DRV)
and MacMillan Gold Corp. (TSX VENTURE: MMG), is pleased to provide
the following update on exploration activities at the Aguila Cu-Mo
Target and the Pasacancha Ag-Pb Zn Target. Cary Pothorin, P.Geo.,
President of Duran Ventures and Minera Aguila de Oro SAC is a
Qualified Person as defined in National Policy 43-101, and is
responsible for all technical information contained in this joint
news release. Total Copper Equivalence % is the sum of the Cu% plus
10 times the Mo% based on an assumed 10:1 ratio of Mo to Cu
commodity prices. Metallurgical recoveries and net smelter returns
are assumed to be 100%. These equivalence grades should not be
interpreted as actual grades since the conversion ratio varies with
volatile prices of Cu and Mo and the economic recoveries of Cu and
Mo can vary significantly in actual extraction and processing.
Aguila Hole 11 was drilled on section 9950N, and drilled to the
southwest at an inclination of -60 degrees. It was drilled to a
final length of 605.3 metres, which is a vertical depth of
approximately 524 metres from the collar and 611 metres projected
to surface from bottom of hole. Mineralized diorite and monzonite
porphyry intrusive rock was cut through almost the entire
intersection. The last 43 metres of the hole were drilled in
mineralized sedimentary wallrock. Samples from Hole 11 were assayed
and reported 0.425% Cu and 0.029% Mo, for a 0.718% copper
equivalence weighted average over the entire sampled length of
604.3 metres.
Aguila Hole 12 has been completed also on section 9950N, drilled
to the southwest at an inclination of -60 degrees. The collar is
approximately 100 metres to the southwest of the collar of Hole 11.
The final length was 567.1 metres, which is a vertical depth of
approximately 491 metres from the collar and 600 metres projected
to surface from bottom of hole. The first 260 metres were in
mineralized diorite porphyry intrusive rock and intrusive breccia
at the contact. The remaining 307 metres were drilled in altered
and mineralized sedimentary wallrock. Assay results are
pending.
Aguila Hole 13 is ongoing and was at 304.65 metres as at October
22nd. It is being drilled on section 10050N, approximately 50
metres to the southwest of the collar of Hole 8 (July 14 2008 news
release - Hole 8 reported 522.3 metres averaging 0.626% Cu 0.049%
Mo for 1.119% Copper Equivalence). The first 202 metres intersected
mineralized diorite porphryry intrusive and the remaining hole to
date has intersected altered and mineralized sedimentary wallrock
with local narrow porphyritic dykes.
Pasacancha Hole 3 is currently underway and is at a depth of
125.45 metres as at October 22nd, 2008. The hole to date has cut
brecciated and altered sedimentary host rock, and altered dioritic
intrusive dykes. Mineralization encountered to date includes galena
and sphalerite, with very common pyrite and pyrrhotite. Iron oxide
phases such as goethite, jarosite, and limonite are common where
the rock is oxidized.
Drilling advances at Pasacancha are slow, as the rock is very
fractured and brecciated, resulting in a loss of circulation of
drill fluids. To avoid serious problems with hole conditions or
stuck drill pipe, our contractor is advancing a maximum of 30
metres, and cementing the hole to seal the walls. The cement is
then drilled out and the hole is advanced another 30 metres. While
the procedure is slow, it stabilizes the hole and results in a more
efficient recovery of core.
The review of the C Permit application by the Peruvian Ministry
of Energy and Mines is ongoing and the Company expects confirmation
of the permit by the end of October 2008. We have extended the B
permit for three months, until mid January 2009 to avoid any
drilling interruptions.
All drill core was logged, photographed and split in half using
a diamond saw. One half of the core was systematically sampled in
three metre intervals and sent to the Lima laboratory of
Inspectorate Services Peru SAC (a certified laboratory) for
preparation and multi-element ICP analysis followed by AQR/AA
assaying for Cu and Mo and 30 gram FA/AA assaying for Au and Ag.
The company has a QA/QC protocol in place including the use of
duplicate sampling by outside labs, certified standards and blanks
and secure care and custody of samples.
Duran Ventures Inc. and MacMillan Gold Corp .are Canadian
resource companies
listed on the TSX Venture Exchanges: Symbols "DRV" &
"MMG".
To view a map of "Aguila Project", please visit the link
below:
http://media3.marketwire.com/docs/mmgmap1022.pdf
The TSX Venture Exchange has not reviewed and accepts no
responsibility for the adequacy or accuracy of this news
release.
Contacts: MacMillan Gold Corp. George A Brown CEO (416) 867-1101
(416) 867-1222 (FAX) Email: macmillangold@ca.inter.net Website:
www.macmillangold.com Duran Ventures Inc. George A. Brown CEO (416)
867-1101 (416) 867-1222 (FAX) Email: duranventures@ca.inter.net
Website: www.duranventuresinc.com
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