Dana Resources Evaluating Several New Gold Prospects Situated Between Its Collota Gold Deposit and Barrick's Pierina Mine
August 27 2009 - 8:30AM
Marketwired
Dana Resources (OTCBB: DANR), a US-based precious metals
exploration and development company, is pleased to announce that it
is currently evaluating gold prospects within close proximity to
its 1.17 million ounce Collota gold deposit. Dana Resources
currently owns and operates seven mining projects located in Peru's
most prolific mining regions.
Dana Resources is currently evaluating several prospects located
between the Collota gold deposit and Barrick's world famous Pierina
mine (originally hosting over 5.2 million ounces of gold and
producing as much as 500,000 ounces of gold in 2006). The Collota
gold deposit is positioned in the same trend as the Pierina mine.
The prospects being evaluated are located in Northern Peru in the
region of Ancash. Elevations range from 4,000m to 4,700m.
Dana Resources has a 100% ownership of the 1.17 million ounce
Collota Gold Deposit and a 100% ownership of the neighbouring
Collota One Gold Prospect. The acquisition of the Collota One Gold
Prospect increased Dana Resources' land holdings surrounding the
deposit to surpass 8,000 acres. Dana Resources plans to further
enhance their land holdings in this area through the acquisition of
additional gold projects.
Dana Resources plans to mine the Collota Gold Deposit and
adjacent holdings as an open-pit mine to a maximum depth of 50m.
The acquisition of additional qualifying prospects can
substantially increase the size of the existing deposit to be
processed in the mine.
The Board of Directors commented, "Expanding our land holdings
around our gold deposit at this time is important due to the fact
we are planning to enter into the permitting stages of the Collota
Gold Deposit and its adjacent land prospects for production."
With some of the richest mineral reserves in the world, Peru is
one of the highest producing countries of precious & base
metals in Latin America. Previously inaccessible regions are now
becoming available through modern technology and equipment, making
the high diversity of marketable minerals an extremely attractive
prospect. In total, Peru holds about 16 percent of the world's
known mineral reserves.
About Dana Resources
Dana Resources is a precious and base metals exploration company
with offices in the United States and Peru. Dana's management team
possesses local knowledge, extensive international connections, a
wealth of experience and technical expertise in mining, mining
finance, exploration and production. Dana Resources has acquired a
portfolio of gold, silver and other precious & base metal
properties located in Peru's most prolific mining regions. With
Peru growing as a producer of gold, silver and other metals on the
international market, Dana Resources is well positioned to
capitalize on the escalating global demand for commodities. The
management team and Directors are committed to creating value for
their shareholders and to the long-term success of Dana
Resources.
Forward-Looking Statements
The statements contained herein which are not historical are
forward-looking statements that are subject to risks and
uncertainties that could cause actual results to differ materially
from those expressed in the forward-looking statements, including,
but not limited to, certain delays beyond the company's control
with respect to commencement of drilling operations, concentration
in mineral deposits, delays in testing and evaluation of ore
samples, and other risks detailed from time to time in the
Company's filings with the Securities and Exchange Commission.
Contact: Len De Melt Dana Resources www.danaresources.com Email
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