The Mayner’s Fortune limestone property is located in the Skeena Mining Division approximately 7.5 kilometres south west of Terrace, BC and 4 kilometres west of Lakelse Lake on Lakelse River.
The area of interest at Mayner’s Fortune consists of a two kilometre thick metasedimentary sequence hosting six sub-parallel N to NE-striking limestone units of variable thickness. The limestone units lie within a sequence of thinly bedded quartzites, graphitic argillites, and argillaceous limestones intruded by Jurassic to Tertiary granites and granodiorites of the Coast Plutonic Complex (Haman, 1966).
As reported in Durango’s press release dated August 12, 2015, the Company staked an additional 226 hectares. This expansion encompasses two additional limestone units, which historic geological studies have reported to be prospective for high-quality limestone material (Haman, 1966). These units are known as Unit 3 and Unit 5, in the east-west sequence of limestone beds.
Unit 3 has been reported to possess a very high economic viability, with a limited mapping campaign suggesting the presence of “pure limestone suitable for quarrying, continuing for a very long extent in a northerly direction, which may indicate the presence of a large amount of material” (Haman, 1966). Unit 5 was reported by the same author to consist of limestone with a relatively high purity, although containing a considerable amount of interbedded chert, and having a true thickness of 650 feet.
Smith Island Limestone, BC
On August 18th, Durango announced that it had purchased a 100% interest in a past-producing limestone property on the north coast of British Columbia (the “Property”). The Property is on Smith Island approximately 6 kilometers southwest of Lelu Island – where the proposed $36 billion LNG facility is expected to be built by the Petronas LNG Consortium (Pacific Northwest LNG).
Durango has acquired the closest known industrial mineral occurrences to both of the proposed LNG projects in the northwest which have projected capital costs exceeding $76 billion dollars. The Company plans to differentiate itself by wholly owning and developing historical limestone assets in close proximity to the LNG proposed projects in Kitimat and Prince Rupert. Both the Smith Island and Mayner’s Forutne limestone assets are logistically sound and host historical limestone occurrences enabling Durango’s management to focus on moving the projects forward.