Vancouver, BC / TheNewswire / February 8, 2017 – Durango Resources Inc. (TSX.V-DGO), (the “Company” or “Durango”) is pleased to announce that, further to its news releases of December 14th and November 1st, 2016, limestone quality of up to 99.95% CaCo3* (56.00% CaO) has once again been attained on its 100%-owned Mayner’s Fortune limestone project.
The 320-hectare Mayner’s Fortune property is located 7.5km southwest of Terrace, B.C. along the CN rail route between Terrace and Kitimat and hosts five historically mapped sub-parallel limestone units. Durango completed two exploration visits on the Mayner’s project last fall which included sampling to test limestone quality and mapping substantiate historic reports. Mapped limestone in the northern section of Unit #5 extended 650m along strike by 140m apparent thickness with the unit remaining open at both ends. This compares well with historical mapping of 1,600m strike length and an apparent thickness of 180m in the south end of the limestone bed. The assays in this release pertain to the late November visit.
Out of 14 unique samples taken from unaltered limestone outcrops at the Mayner’s Fortune property, 13 yielded grades greater than 82.4% CaCo3* (46.2% CaO). All limestone samples from the property are shown in Table 1.
Table 1: Mayner’s Fortune Outcrop Samples
|Sample||Easting||Northing||CaO (%)||CaCo3 (%)
Note: All coordinates are NAD83 UTM Zone 9N
* Theoretical value of CaCo3 is calculated based on the assay value of CaO * 1.78476 and is used to estimate limestone (CaCO3) composition. This calculation assumes all CaO analysed is present as CaCO3.
Cautionary statement: Readers are cautioned that grab samples are selective by nature and are not necessarily representative of mineralization hosted on the property.
All samples were grab samples and were analyzed by Bureau Veritas, Vancouver, British Columbia. The analytical methods used correspond to Bureau Veritas code LF700 – Whole Rock Analysis by XRF.
Marcy Kiesman, CEO of Durango stated, “We are once again extremely pleased with the assays results for the Mayner’s Fortune project. Favourable grades of up to 99.95% limestone from Limestone Unit #5 (by calculation), has created additional opportunities for potential end users and Durango is actively investigating commercial use mediums. The assays coupled with current and historical mapping results have affirmed the vast potential of this property and Durango plans to continue to advance its limestone prospects through 2017.”
Limestone is extremely beneficial for the agricultural industry including its use as a soil conditioner. The limestone is activated when it meets with water and dissolves into the soil, which lowers the acidity and raises the pH, which is essential for crop yields. The lime also adds desirable nutrients to the soils such as calcium, magnesium and phosphorus, which can improve soil structure, increase rates of air and water filtration, improve plant cell wall formation, and help regulate the nutrient uptake through the roots of the plant. Hydroponic type systems are more prone to incur a calcium deficiency and require the use of limestone.
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.
Durango has granted 750,000 stock options to directors and consultants of the Company exercisable at $0.075 per share for a period of three years from the date of grant. The options have been granted in accordance with the Company’s stock option plan.
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.
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, final approval from governmental entities on the LNG project, Petronas determining whether to proceed with the LNG project and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, including market conditions, 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.