Duran Ventures Inc.

Duran Ventures Inc.

February 23, 2010 09:00 ET

Duran Ventures Announces 396.0 Metres of 0.69% Copper and 0.042% Molybdenum (0.98% CuEq) in Drill Hole 10AGD016: First Hole in Aguila West Reports 71.0 Metres of 0.62% Copper

TORONTO, ONTARIO--(Marketwire - Feb. 23, 2010) - Duran Ventures Inc. (TSX VENTURE:DRV) is pleased to announce the completion of a three-hole, 1211.7 metre diamond drilling program at the wholly owned Aguila Project. Drilling began with hole 09AGD015 in early December 2009, and finished in early February 2010, with the completion of 10AGD017. The location of these drill holes is shown in Map 1 below. Results from hole 09AGD015 were reported in a Company news release on January 13th, 2010.

Diamond drill hole 10AGD016 was drilled to a final depth of 620.6 metres, with an azimuth of 70 degrees and an inclination of –70 degrees. The target was a strong induced polarization (IP) chargeability high, which occurs between the Aguila and Aguila East areas. The hole cut mineralized diorite with both stockwork veinlet and disseminated chalcopyrite and molybdenite from surface to a depth of 245.8 metres, then siltstone and quartzite sediments with local diorite dykes in the remaining 374.8 metres. The sedimentary rock also hosts both stockwork and disseminated styles of mineralization. Hole 10AGD016 is very exciting for the Company, as it clearly highlights the strength of the mineralized system at Aguila, as well as the considerable tonnage potential.

Hole 10AGD017 was drilled in the Aguila West area to a final depth of 147 metres, with an azimuth of 225 degrees and an inclination of –50 degrees. Drilling was stopped at the western limit of the Halcon concession. The first 71 metres of the hole was in altered and mineralized diorite and quartzite. The final 76 metres averaged 0.12% copper. A low angle fault was cut in the hole, and Company geologists are evaluating an optimal drill direction for further holes in the Aguila West area.

The Company is very pleased with the results of this drill program. The hole at Aguila West is located almost 500 metres to the southwest of the main Aguila intrusive body and confirms that significant copper mineralization occurs over an area stretching from the Aguila West to Aguila East Zones, a distance of approximately 1300 metres in a northeast-southwest orientation. 

Results from holes 10 AGD 016 and 017 are summarized below.

    (m) (%) (%) (%) (g/t)
10 AGD 016
0.0 620.6 620.6 0.49 0.033 0.72 1.73
0.0 396.0 396.0 0.69 0.042 0.98 2.05
10 AGD 017
0.0 71.0 71.0 0.62 0.004 - 1.78

Note – Copper equivalent calculation uses metal prices of $US 1.85/lb for copper and $US 12.50/lb for molybdenum, a ratio of approximately 1:6.75. No adjustment is made for recovery. This value is calculated only for comparison purposes. Silver values were not included in this calculation.

Significant silver values have been cut in most Aguila drill holes, and the Company is reviewing all data to evaluate the project's silver content as a possible future production credit.

VDG del Peru has provided Duran with a final report on the geophysical survey conducted in the fall of 2009. The induced polarization/resistivity (IP/RES) interpretation map is useful to make an important point about the area (see Map 2 below).

The map shows IP chargeability highs as red areas, resistivity highs as blue, and resistivity lows as green outlines. IP chargeability highs normally represent conductive bodies, typically consisting of disseminated sulfide minerals. The map covers the entire 3 x 2 kilometre area of the geophysical survey, and eight conductive bodies are shown, ranging in size from 200 x 250 metres to 250 x 1200 metres. Drilling to date has focused in and around the Aguila pit, with only one hole in the Aguila West area (10AGD017) and only one hole cutting the Pasacancha mineralized zone (08PAS004B). It is clear from this diagram that there are numerous additional targets which require drill testing over this entire area.

Company geologists are interpreting these results and must take into account all information, including geophysical, geological, and geochemistry, as well as all previous drilling information. The Company is preparing a detailed drill program to test and quantify these targets and plans to continue drilling in 2010.

All core samples are prepared and analyzed at ALS Chemex in Lima (a certified laboratory) using a four-acid digestion and atomic absorption method for copper and molybdenum, as well as a multi-element ICP analysis. Analysis for gold is done by a fire assay and atomic absorption finish on ten percent of drill core samples from the Aguila drill holes. The Company has a QA/QC protocol in place which includes the use of certified standards, blanks, and duplicate samples, as well as secure care and custody of samples.

Duran Ventures is a Canadian exploration company focused on the exploration and development of porphyry copper, precious metal, and polymetallic deposits in Peru. Cary Pothorin, P. Geo., President of Duran, is a Qualified Person as defined in National Policy 43-101, and is responsible for all technical information contained in this news release.

Duran Ventures Inc. is a Canadian resource company
listed on the TSX Venture Exchange: Symbol "DRV" 

Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's expectations are disclosed in the Corporation's documents filed from time to time with the TSX Venture Exchange and, among others, the Ontario Securities Commission as well as under the heading "Risk Factors" in the Company's annual and interim Management Discussion and Analysis.

To view MAP 1 – Drill hole location map highlighting the locations of holes 09AGD015, 10AGD016, and 10AGD017, please visit the following link: http://media3.marketwire.com/docs/DRV-MAP1.jpg

To view MAP 2 – Geophysical interpretation map showing numerous IP chargeability anomalies and area covered in MAP 1, please visit the following link: http://media3.marketwire.com/docs/DRV-MAP2.jpg

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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