Vancouver, BC / TheNewswire / October 31, 2016 – Durango Resources Inc. (TSX.V-DGO), (the “Company” or “Durango”) reports that further to its news release of September 21, 2016, it is accepting bids to drill the recently discovered lithium bearing pegmatites on its wholly owned NMX East ground adjacent to Nemaska Lithium (TSX-NMX) near Nemaska, Québec.
Earlier today, Nemaska Lithium announced an agreement to supply 8,000 metric tons of lithium carbonate per year beginning in mid-2018 to FMC Corporation (NYSE-FMC).
Durango’s property borders Nemaska Lithium, and the lithium bearing pegmatites Durango discovered on a simple reconnaissance exploration program are within a few kilometres of Nemaska’s Whabouchi deposit. It is anticipated that at least four exploratory drill holes will be completed to test the extent of the pegmatites and the grades below the weathered surface.
Marcy Kiesman, CEO comments: “With the Paris Climate Agreement taking effect November 4, 2016, Durango believes there will be unprecedented growth in carbon free energy sources including electric vehicle growth. Electric vehicles use a majority of lithium ion batteries as their power source so it stands to reason that lithium demand will continue to rise.”
Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company has a 100% interest in the Mayner’s Fortune and Smith Island limestone properties in northwest British Columbia, the Découverte and Trove gold properties in the Abitibi Region of Quebec, and certain lithium properties near the Whabouchi project, the Buckshot graphite property near the Miller Mine in Québec, the Dianna Lake silver project in northern Saskatchewan, the Whitney Northwest property near the Lake Shore Gold and Goldcorp joint venture in Ontario, as well as three sets of claims in the Labrador nickel corridor.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com.
Marcy Kiesman, Chief Executive Officer
Telephone: 604.428.2900 or 604.339.2243
This document may contain or refer to forward-looking information based on current expectations, including commencement and completion of future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties relating to Durango, please refer to the Company’s prospectus filed on its SEDAR profile at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.