Dana Resources Acquires the Property Las Horquetasadmin
Dana Resources is a US-based precious and base metals exploration company with advanced stage gold properties in Peru. Dana Resources is pleased to announced today they have acquired 100% interest in the claim herein known as the Turmalina Project, in Peru.
Turmalina is a copper project located in Northern Peru and is accessible by road with existing infrastructure in the area for power, water and labour. The Turmalina project has mineralization over an area of 2.5 km by 1.25km and covers over 1450 acres. As of 2007, the Turmalina project has historical reserves of 305,586 tons of 2.5% copper. Dana Resources believes that there is a potential for over 330,000 tons of copper at Turmalina.
The Turmalina project is in the same trend as Anglo American’s Michiquillay copper porphyry deposit. Michiquillay hosts reserves of 544 million tonnes with 0.69% Cu, 0.1-0.5 g/t Au and 2-4 g/t Ag at a cut-off of 0.4% copper equivalent. Turmalina is also in the same trend as Buenevenutra’s Mina Conga (6 million oz gold) and Monterrico Metals plc’s Rio Blanco porhyry copper project with a resource of 1,257 million tonnes at 0.57% copper and 228 ppm molybdenum.
The Turmanlina project is also in close proximity to Newmont’s Yanacocha gold mine. The Yanacocha operation, with three active open pits, is the largest gold producer in South America.
Mr. Len De Melt states, “The addition of the Turmalina project has added depth and diversity to Dana Resources’ portfolio and increased our land holdings in Peru.”
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. Peru holds about 16 percent of the world’s known mineral reserves.