Vancouver, BC / TheNewswire / January 16, 2018 – Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTC Grey-ATOXF), (the “Company” or “Durango”) is pleased to announce results from an independent technical review for the Découverte gold property (the “Property”) in James Bay, Quebec.
The Company recently retained Danae Voormeij, PGeo. (see news release November 20, 2017) to analyze and interpret all relevant data on the Property, to determine the gold potential, and to design a drill program accordingly. A presentation of this information can be found on Durango’s website at: http://durangoresourcesinc.com/wp-content/uploads/2018/01/D%C3%A9couverte_Investor-Presentation_15Jan2018.pdf.
- Six target areas are defined on the Property, each ranging from 100m to 400m along strike
- Mineralization in the Main Zone is focused within a 1km by 0.3km northwest trend
- The Company’s claims cover a deformed fold nose in the Frotet-Evan Greenstone Belt
- There is evidence of a well-preserved gold system, hosted in finely-bedded and iron-rich metasediments in contact with metavolcanic rocks
- Rusty and sulphuric polymict conglomerates have been mapped in the Main Zone along 1km strike
- The Property is easily accessed, being only 10km from the all-season Route Nord
- A high voltage powerline, part of Quebec’s Plan Nord, runs directly through the Property
- The technical review supports a diamond drilling program of 3,800m across 36 holes
- Drill holes are relatively shallow, ranging from 40 to 180m, averaging 102 m in length
“James Bay is considered a highly-prospective new gold camp by the majors, with such quality deposits as Goldcorp’s multi-million-ounce Éléonore, Eastmain’s Clearwater, and La Grande Sud, all situated along the same north-northwest trend as Découverte,” said Marcy Kiesman, CEO of Durango. “We are intrigued by the compelling geology at Découverte and are extremely pleased with the progress that Ms. Voormeij has accomplished thus far. Our next step will be to raise the necessary funds to commence drilling on the Property.”
Danae Voormeij, a consultant with Mynah Exploration Inc., has more than 15 years’ experience in gold exploration and a proven track record of discovery; she led AIM-listed Hummingbird Resources to the grassroots discovery of 2.4 million ounces of gold at Tuzon, a Birimian greenstone-hosted gold deposit in Liberia. She placed in the top 20 out of 1,342 participants in the 2015 Integra Gold Challenge with her innovative proposal on target selection and has published a book on gold exploration for Edumine.
Ms. Voormeij reports that large deposits tend to occur stratigraphically near the unconformity at the base of conglomeratic sequences such as the ones mapped in the Main Zone of Découverte. The conglomerates of the Main Zone are rusty and smell strongly of sulphur, indicating that the mineralization is very near to surface. Drill holes targeting the Main zone range from 50 to 180m, averaging 121m in length.
Geophysical evidence for mineralized trends on the Property are electromagnetic (EM) conductors with coincident magnetic, resistivity and gravity anomalies (see November 20, 2017 news release and presentation on the website), which suggest sulphide mineralization, such as pyrrhotite, associated with gold mineralization.
Soil geochemistry outlines gold mineralized trends with anomalous gold in soil values ranging from 50 to 177 ppb. Gold pathfinder elements at Découverte include gold (Au), copper (Cu), arsenic (As), antimony (Sb) and Zinc (Zn).
Based on surface data collected to date, there are six target areas for the proposed 3,800m drilling program: Main Zone, Shear Zone 1, Skip Vein, BIF Vein, Swift Vein and Shear Zone 2. The mineralized trends within these zones range from 100 to 400m in strike length. Gold mineralization in the Main Zone is focused within a 1.0km by 0.3km northwest shear trend of the Découverte Fault Zone.
The Frotet-Evans Break (the “Break”) runs for 100km east-west along the greenstone belt and takes a drastic bend to the northeast within the Property claims. Ms. Voormeij believes the Break is the main structural control for gold mineralization at Découverte, particularly along the Découverte Fault Zone, a secondary structure, which intersects it. The Break was a dextral strike slip and then became a thrust fault, which is why gold mineralization is well preserved in the hanging wall, on the north side of the Break (see Figure 1) http://durangoresourcesinc.com/fig1_durango-decouverte-geol-map_07jan2018/.
The Property is easily accessible, and the terrain is relatively flat and largely covered by a thin veneer of glacial till. Targets in the Main Zone are beneath a rusty and sulphuric polymict, undeformed conglomerate that has been mapped along a strike length of 1km. Host rocks for gold mineralization are finely bedded and iron-rich metasediments within the wacke at the contact with metavolcanic rocks.
Ms. Voormeij reviewed all technical data collected on the Property to date and proposes a drilling program to test six (6) areas of inferred mineralized trends, which range from 100m to potentially 400m along strike. The proposed program, a first for the Property, will drill-test the inferred trends below surface, both down dip and along strike. Drill hole lengths range from 40 to 180m, averaging 102m. Drilling in the Main Zone (see Figure 2) http://durangoresourcesinc.com/fig-2_durango-decouverte-main-zone-proposed-drilling_jan2018/ is targeting a northwest trending, southeast dipping, mineralized trend that is hosted in a highly structurally deformed fold nose.
Drill holes and drill fences are planned along 50 by 50m metric grids towards future potential resource drilling. Drilling along fences will provide information to draft geological cross-sections and increase the understanding of gold mineralization controls at Découverte.
Figure 1. Geological map of Découverte gold project, James Bay, Québec
Figure 2. Proposed drilling of Découverte Main Zone
Découverte is a grassroots gold project targeting greenstone-hosted orogenic gold mineralization. The Property is in the Frotet-Evans Greenstone Belt with Troilus gold-copper mine 60 km to the northeast and Goldcorp’s Éléonore gold mine 240 km to the north along the same northwest trend.
The Property is 57 square kilometres (5,700 ha) and covers a section of the main Frotet-Evans shear-zone where it bends; trending from east-west to northeast. The dominant structural feature within the Property is a large synclinal fold nose composed of Archean metasedimentary and metavolcanic rocks that has been deformed by northwest and northeast-trending faults and intruded by syn-orogenic granodiorite bodies. Rusty and sulphuric polymict, undeformed conglomerates have been mapped within the Property, in the hanging wall of the Main Zone.
The Property has never been drilled. Since 2011, Durango has collected and assayed 343 soils, 65 boulders, 30 basal till and 208 rock chip samples. Outcrop mapping of limited exposed bedrock was completed in 2012 and 2015. Fugro conducted an airborne DIGHEM magnetic/EM geophysical survey of the Property and in 2015 deep ground geophysical surveys were completed by INRS (Institut National de la Recherche Scientifique), who in 2017 delivered a report listing nine exploration target areas based on the interpretation of the geophysical data (see news release dated December 6, 2017).
The technical information contained in this news release was prepared by Danae Voormeij, MSc, PGeo. Ms. Voormeij is a “qualified person” under CIM’s National Instrument 43-101 Standards of Disclosure for Mineral Projects.
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 limestone property and the Golden Triangle properties in northwest British Columbia, the Découverte and Trove & Windfall gold properties in Québec, lithium properties near the Whabouchi Mine, the Buckshot graphite property near the Miller Mine in Québec, the Dianna Lake silver project in northern Saskatchewan and the Whitney Northwest gold property near Timmins, Ontario.
For further information on Durango, please refer to the documents posted on its SEDAR profile at www.sedar.com or contact:
This news release may contain or refer to forward-looking information based on current expectations, including commencement and completion of future exploration on the Property, drilling, financing, and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, including market conditions, raising additional capital for exploration expenditures, 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 its 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.