MacMillan options Aguila to Duran

Toronto-based exploration company MacMillan Gold (TSX: MMG) has agreed to option out its Aguila gold-copper property in north-central Peru to fellow Canadian Duran Ventures (TSX: DRV.T), MacMillan said in a statement. The property includes the company's 100ha El Halcon concession and the 1,000ha Pasacancha 1 concession, under option to MacMillan from Vancouver-based Inca Pacific Resources (TSX: IP), the company said. Subject to regulatory approval, Duran will be project operator and have the right to acquire a 50% interest in the concessions by making cash payments of US$20,000/y for four years and delivering 250,000 common shares a year over the same period. MacMillan said the option agreement maintained its exposure to future potential from the Peruvian properties while allowing it to focus on exploration for gold and silver in Mexico. The company is earning a 100% interest in the 1,947ha Cerro de Oro gold-silver property in north-central Mexico's Zacatecas state from local mining-metals giant Industrias Penoles. MacMillan's Mexican subsidiary, Mac-Ore, has also optioned a total of 316ha of claims around Cerro de Oro.