Dana Resources (OTCBB: DANR) is a US-based precious and base metals exploration company with a portfolio of properties located in the most prolific mining regions of Peru. The Company’s properties include gold, silver and other precious and base metals properties.
With some of the richest mineral reserves in the world, Peru is one of the largest producers of both precious and base metals in Latin America. It is estimated that Peru holds about 16 percent of the world’s known mineral reserves. Peru’s mineral riches were once inaccessible, but no longer. Previously inaccessible regions of Peru are now becoming available through modern technology and equipment.
Dana Resources announced today that they have acquired a 100% interest in the claim known as the Las Horquetas Project in Peru. Las Horquetas is a copper-gold porphyry prospect in northern Peru. The project covers a 2,223 acre area and is situated in the same copper-gold belt as the world famous Tambo Grande deposits (gold, copper and zinc) to the southwest of Las Horquetas.
A systematic exploration program consisting of geological mapping, prospecting, sampling and drilling was carried out in 1999 by BHP Billiton (BHP) and SIMSA. However, due to the low commodities prices at that time, further exploration was postponed. Dana Resources is planning to continue the geophysical study of the area and will complement the study with additional drilling.
This acquisition is the latest of several acquisitions of mineral properties in Peru for Dana Resources. The high diversity of marketable minerals in Peru makes mining there a highly attractive prospect. With Peru growing as a producer of gold, silver, copper and other metals on the international market, Dana Resources is well positioned to capitalize on the global demand for commodities.