Vancouver, BC / TheNewswire / January 19, 2018 – Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTC Grey-ATOXF), (the “Company” or “Durango”) announces that over the past year, Durango has achieved numerous milestones which further position the Company for discovery in the coming year.
- Negotiated an option agreement on the Trove gold property with BonTerra Resources Inc. (“BonTerra”) which resulted to date in a cash inflow of $750,000 with no dilution to shareholders. Durango still owns 100,000 of these shares and may obtain a further $350,000 in cash, and a further 1,500,000 shares of BonTerra if the option is fully exercised pursuant to the option agreement.
- Durango’s favourable grades of 99.9% CaCO2 at Mayner’s Fortune limestone project in northern B.C. received an exemption from the registration process of the Canadian Food Inspection Agency (CFIA) for the use of limestone as a fertilizer. A consultant was hired to take structural measurements and evaluate targets for a recommended drill program to determine the size and quality of the limestone potential.
- Staked a 2,000ha property adjacent to GT Gold in the Golden Triangle of B.C. who announced a new high-grade discovery in July 2017. Durango went on to further obtain fractional claim blocks positioning it even closer to the discovery area. Durango sent an exploration team up to the properties in late fall determine access, and to complete surface mapping. Some samples were obtained and are pending results.
- Applied and obtained permits to dewater the historical pit at the Dianna Lake Silver project in Saskatchewan, which was followed up with exploration and sampling resulting in assays of 6kg/t silver, 4.21% copper and 736 g/t cobalt. The Company staked additional ground surrounding the original land position to ensure full coverage.
- Staked and purchased additional Windfall Lake gold properties in Quebec expanding Durango’s position to over 8,600 hectares in the Urban Barry greenstone belt. The high priority blocks of claims were chosen and underwent a till sampling program in late November and results are pending.
- Obtained fractional claims adjacent to Garibaldi Resources Corp. and Metallis Resources Inc. in Golden Triangle of northern B.C. The one claim runs north to south of the length of the Garbibaldi boundary on the eastern border, and another is adjacent to the east of Metallis. Due to weather conditions, Durango was not able to visit these properties in 2017.
- The continued partnership program with INRS (Institut national de la recherche scientifique) defined nine geophysical exploration target areas for the Decouverte gold property in northern Quebec. Durango then hired a consultant to interpret all relevant data on the Decouverte and to build a geological model and drill program for the property as announced on January 16th, 2018.
- Durango reviewed the technical data from previous sampling on its wholly owned NMX East lithium property which adjoins the eastern perimeter of Nemaska Lithium Inc. The Company hired a consultant to prepare a NI 43-101 report and is in discussions with land users regarding potential test drilling and timing.
Marcy Kiesman, President and CEO of Durango stated, “During 2018 Durango plans to continue to position for discovery while it aims to work on projects that will positively impact shareholder value. Durango has set strategic goals for 2018 to increase market awareness and expand its shareholder base and to drill strategic exploration targets. I would like to thank our shareholders for their continued support and look forward to an exciting year ahead.”
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 Quebec, 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 its SEDAR profile at www.sedar.com or contact:
Marcy Kiesman, Chief Executive Officer
This document may contain or refer to forward-looking information based on current expectations, including commencement and completion of future exploration, obtaining financing and expanding its shareholder base 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.