Vancouver, BC / TheNewswire / July 14, 2017 – Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTC-ATOXF), (the “Company” or “Durango”) announces that further to the news release of May 30, 2017, exploration on the Decouverte (Discovery) Property (the “Property”) resulting from its grant from the Institut National de la Recherche Scientifique (“INRS”) is expected to commence next week.
The Property is wholly owned by Durango and is in the Frotet-Evans greenstone belt in northern Québec approximately 100km to the northwest of the town of Chibougamau. Neighbors on the west side of the Property are Osisko Mining Inc.’s (TSX-OSK) Assinica property and to the northwest is Beaufield Resources Inc.’s Troilus-Tortigny Property (TSX.V-BFD). The former-producing Troilus mine is approximately 60km northeast along the same fault.
The July portion of the INRS grant (FQRNT-MERN-MINES) exploration program is expected to last 4-5 days and will prepare the lines for the electromagnetic (EM) equipment. A more thorough program is planned for INRS this September to focus on defining the EM anomalies from Durango’s previous DIGHEM airborne survey, which may be indicative of massive sulphide mineralization. Given the presence of formational conductors on the Property, gravimetry and sub-surface electrical resistivity work will be carried out to characterize the main anomalies detected by the DIGHEM survey.
The September follow-up Induced Polarization (IP) exploration program (outcrops, erratic blocks) will be carried out in 9 sectors previously identified as priority as can be seen on the corporate website. A lithogeochemical study is expected to be carried out to document the geochemical signature of felsic volcanics in the southern part of the Property.
Marcy Kiesman, CEO of Durango, stated, “The Decouverte property remains a compelling project for Durango due to its volcano-sedimentary environment and structural geology which increases the potential for a significant gold and/or VMS deposit. Durango is fortunate to have INRS conducting its research on the Property as IP can help identify zones such as the Detour gold zone 58. Additionally, VMS deposits often occur in clusters which mean that the discovery of one may indicate that there are others nearby.”
The Property is in the Frotet-Evans greenstone belt approximately 60 kilometres southwest of the former Troilus copper-gold mine, which produced over two million ounces Au and 50,000 tonnes Cu from 1997 to 2010. The Property covers approximately 5,900 hectares covering a synclinal fold nose of Archean units transected by a major northeast-trending shear zone. Durango carried out a helicopter-borne DIGHEM EM/magnetic airborne geophysical survey on the Property in 2011 (NR Nov. 24, 2011) and soil geochemistry and prospecting in 2013 and 2014 targeting areas identified in the airborne survey. The geological setting is mainly mafic volcanics (basalts/andesites), in places strongly sheared, cut by pegmatitic granitic units, and significant sedimentary, oxide and sulphide facies iron formation units. Alteration including silica, sericite and iron carbonate is noted. Significant soil values included 174 ppb gold, 0.66 ppm silver, 150 ppm nickel, 200 ppm copper and 240 ppm barium. Chip/channel rock samples gave values of 7.6 g/t gold and 6.24 g/t gold hosted in narrow quartz veins in mafic volcanics, in the contact area with the pegmatitic granite. The Property is located 100 kilometres north of Chibougamau, Québec and benefits from favourable infrastructure, including road accessibility, being 10 kilometres from Route du Nord, and a power line that bisects the Property.
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 Decouverte and Trove gold properties in the Abitibi Region of Québec, and the NMX East lithium property near the Whabouchi mine and the Buckshot graphite property near the Miller Mine in Québec, 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 the exploration of the Property 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.