Dana Resources Evaluating Joint Venture Opportunities on Base Metals Assets
August 28 2009 - 8:30AM
Marketwired
Dana Resources (OTCBB: DANR), a US-based precious metals
exploration and development company, is pleased to announce it is
meeting with joint venture candidates about Dana Resources' base
metals projects. Dana Resources currently owns and operates seven
mining projects located in Peru's most prolific mining regions.
Dana Resources owns two advanced staged base metal projects, Las
Horquetas and Turmalina. The Las Horquetas project is located in
the copper-gold belt northeast of the Tambo Grande deposits and had
a joint venture with BHP Billiton in 2001. BHP Billiton's
proprietary Falcon survey was flown over the project. Samples of
5.39 grams per ton gold and 5.71% copper have been assayed.
Turmalina is Dana Resources' other advanced staged base metals
project. The Turmalina project is located in Northern Peru and as
of 2007, existing high grade reserves were 305,586 tons of 2.5%
copper (15 million pounds of copper). Dana Resources believes the
Turmalina Project initially has a copper potential of over 660
million pounds, valued at approximately $1.9 billion.
Dana Resources plans to focus time and funding on the production
process at the Collota Gold Deposit. Due to the current high demand
for both gold and copper, management believes that successful joint
venture relationships will expedite the development and production
potential at both Turmalina and Las Horquetas. Bringing both gold
and copper for sale in a high commodity price environment is
financially advantageous for Dana Resources.
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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