Dana Resources acquires Oro Chicama gold project in northern Peru

Dana Resources, a US-based precious minerals exploration company, announced that it has successfully acquired the Oro Chicama gold project in northern Peru.

Dana Resources (OTCBB: DANR) currently owns and operates seven mining concessions located in Peru's most prolific mining regions.

The Oro Chicama Gold Project covers 2471 acres in Ancash, Northern Peru's prolific mining region. The geology in this trend consists of volcanic sequences of andesitic spills and tuffs of the Calipuy Group which have been proven to contain some of the world's largest base and precious metals deposits.

The Ancash region of Peru is host to world famous silver, gold, and copper deposits owned by global mining leaders such as Barrick, Teck Cominco, BHP Billiton, Xstrata and Mitsubishi.

Dana Resources purchased the Oro Chicama Gold Project as its geology and position in the trend line is similar to several world class neighbouring mines.

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.

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.

Publication: Andina - English Newswire
Provider: Andina
July 27, 2009