Vancouver, BC / TheNewswire / May 2, 2017 – Durango Resources Inc. (TSX.V-DGO, OTC: ATOXF, FSE:86A1), (“Durango”) announces that it plans to apply to the Water Security Agency of Saskatchewan to obtain permission to dewater its wholly owned Dianna Lake Silver Project in northern Saskatchewan.
As previously announced on September 6, 2016, Durango’s team was successful in locating and mapping nearly all historical drill holes, pits, and trenches. In addition, several new silver, copper, and gold-bearing showings were discovered during the 2016 reconnaissance program.
The 2016 reconnaissance program encountered high-grade silver and copper anomalies which were taken in channel samples from the main zone of historic workings and grab samples from the surrounding areas.
Pit #1 was found to be mostly flooded with water up to 2 metres deep in places, as the adjacent swamp breached the edge of the pit. Based on the locations shown in the historical documentation, the highest-grade material from the historic pits is likely submerged in the areas that were impossible to sample from the 2016 program. For this reason, Durango intends to apply for permits to dewater and fully sample the pit in the upcoming 2017 exploration campaign.
Out of a total of 20 grab samples taken in the 2016 survey, 11 samples returned anomalous silver, copper and/or gold values (see September 6, 2016 news release). Grab sampling in 2016 successfully identified several new showings at the Dianna Lake Project. Sampling from the historical trench area is highlighted in Figure 1.
Two outcrop areas returned anomalous gold values which were not previously documented, indicating that silver mineralization at Dianna Lake is associated with some degree of gold mineralization. One new showing was identified in a gneiss unit, located 300 metres to the southwest of the historic workings and adjacent to an under-explored IP conductor.
The newly-discovered gold anomalies of 2016 warrant further exploration and will be examined more closely in the 2017 program.
Marcy Kiesman, CEO of Durango, comments, “Durango’s Dianna Lake Prospect was previously explored by Comaplex Resources who were known for their stable of high quality prospects. The impressive results from both within and outside of previously documented showings, pits, and trenches of Dianna Lake Silver are compelling and warrant further follow up work by Durango. The anomalous gold values from the gneiss unit is particularly interesting and may indicate the project’s potential to be greater than management originally thought. Therefore in 2017 Durango intends to follow up on these favorable results with an exploration program including the dewatering of the historic pit.”
About Dianna Lake Silver, Saskatchewan
Durango’s Dianna Lake silver prospect covers an historical area in which, from 1968 to 1969, two-high grade, primarily native silver-bearing exploration targets of between 30,000 tonnes and 50,000 tonnes grading five to ten ounces per ton silver, approximately 600 meters apart, were determined by trench grab sample assays, according to an historical evaluation report composed for Comaplex Resources in 1980 (1)*.
* Potential quantities and grades are conceptual in nature. There has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Additionally, the main silver-bearing zone is spatially associated with a large zone of low-grade, disseminated copper-silver mineralization in which drilling of two IP (induced polarization) anomalies indicated approximately five million tonnes averaging 0.4 ounce per ton silver and 0.4 per cent copper (undefined category historical resource estimate, undocumented method), according to the same report (1)**.
** A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and the issuer is not treating the historical estimate as current mineral resources or reserves. The estimate may not be relied upon. The historical estimates use categories other than those required by the CIM and National Instrument 43-101. Further research and exploration work must be carried out to verify all historical information before a resource estimate is possible.
Fourteen additional IP anomalies in the historical exploration area surrounding Dianna Lake and the nearby Doug Lake remain yet undrilled, according to the Comaplex Resources report (1), four of which occur within the property boundary of Durango’s Dianna Lake silver project.
Previous work on the claims was reported in 1969, 1980 and 1998 and included diamond drill holes, trenches and pits primarily across two zones where mineralization was identified at or near surface. One zone was reported to have five trenches exposing silver-copper mineralization over approximately 80 meters. Historical grab samples from pit No. 1 of this zone included ounce-per-ton silver values of 2,458.4, 684.4, 647.4, 600.2, 464.2 and 454.8 ounces per ton silver. Out of 18 grab samples, 13 samples assayed between 185 ounces per ton silver and 2,458.4 ounces per ton silver. Pit No. 2 grab samples returned reported highs of 298 ounces per ton silver and 197 ounces per ton silver (out of seven samples ranging from 12.2 ounces per ton silver to 298 ounces per ton silver) (1). (The company cautions that grab samples are selective and may not be representative of the mineralization on the property.)
The technical contents of this release were approved by Case Lewis, P.Geo., a Qualified Person as defined by National Instrument 43-101. The property has not yet been the subject of a National Instrument 43-101 report.
(1) “Evaluation report of the Dianna Lake silver-copper property, CBS 3141, S-97735 and S-97736, Uranium City area, Saskatchewan, Canada, for Comaplex Resources International Ltd.,” E.G. Kennedy, P.Eng., 1980.
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 Decouverté and Trove gold properties in the Abitibi Region of Quebec, and certain 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 property near the Lake Shore Gold and Goldcorp joint venture in Ontario.
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, but not limited to Durango achieving dewatering permits, engaging in future drilling or work programs, raising additional funds, exploration results on any of its properties or the 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 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.