Interesting Blog on DRV by Sydenham
posted on
Jul 09, 2010 10:47PM
Focused on exploration and advancement of mineral projects in Peru
This information is not new to DRV shareholders, but it shows that the word is starting to get out. With Double Jack agreement signed, the new directors added to the board we should finally see the stock start to move!
"Duran Ventures (DRV.v) is a precious and base metals exploration company with an extremely attractive portfolio of Peruvian properties, all of which have produced highly anomalous or economic grades in the past. Some of these properties have been past producers at varying times over their history, whether by artisinal miners or other companies. DRV.v closed yesterday at 0.12. My apologies for any spelling errors on the various property names!
Their flagship property is the Aguila Copper Project. This is a past copper-moly porphyry producer which essentially closed due to mismanagement and low metal prices. Past drill results from DRV have yielded intersections as thick as 700-800m ranging in grades up to 0.853% copper and 0.046% moly. Recent geophysics revealed 8 large anomalies over a 3 sq. km area. Geophysics are being interpreted for a upcoming drill program.
It was revealed during the co.'s recent AGM that 5 different majors have expressed interest in this property, and signed a confidentiality agreement to examine property data. These cos. included Teck-Cominco, BHP Billiton, Vale, Inmet and Lundin Mining.
In addition to Aguila, the company also holds the Pasanchia property. This is a past underground silver-lead-zinc producer. The main zone varies in width from 100-150 m, and in an '08 drill program yielded 34 m of 55 g silver per tonne, 0.97% zinc and 0.53% lead.
The Corongo property is northwest of Aguila. Exploration work will begin in August on this property. It hosts 5 different zones including Descubridora (a historic silver-gold producer), Santa Rosa (an underground copper producer in the 60s) and Pucapampa (a past copper-moly producer).
The Double Jack property contains 4 different highly prospective projects. Panteria zone hosts a copper-gold-silver anomaly covering a 800m X 250m area. The Ichunya zone is a past producer from Spanish colonial times. It has in the past yielded assays up to 12.75% copper and 8.2 ozs silver per tonne. Gold Fields has staked around this property. The Santa Rita/Coriancha South project is SW of Gold Hawk's Coriancha Mine. It has produced surface samples assaying as high as 1280 g silver per tonne, 2.2 g gold, 8.8% copper and 0.1% moly. Finally, DRV's Don Pancho project has yielded past assays as high as 238 g silver per tonne, 9.5% lead, 4% zinc and up to 10% manganese.
Given their vast array of prospective properties and the high grades that they have produced, the proximity to other existing mines (elephant country) and interest shown by major mining companies, I believe that Duran Ventures is greatly undervalued at the current price of 0.12. As exploration is conducted and results are released, investor awareness will grow and so too will the stock price. The serious interest shown by major mining companies not only proves the validity of their projects but provides the potential of an eventual production JV or takeover all together."