Dana Resources Evaluating Several New Gold Prospects Situated Between Its Collota Gold Deposit and Barricks Pierina Mineadmin
Thursday, August 27th 2009
Dana Resources, 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.