Durango Updates Shareholders On Windfall Property Near Osisko
Vancouver, BC / TheNewswire / August 26, 2019 – Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTCQB -ATOXF), (the “Company” or “Durango”) provides an overview of the current developments of its Trove Property located in the Windfall Lake gold camp of Québec. http://durangoresourcesinc.com/wp-content/uploads/2019/08/Urban-WIndfall-Gold-Belt-Map-simple.jpg
Durango owns 100% interest in the Trove claims which are surrounded by Osisko Mining Inc. (TSX: OSK) (“Osisko”) in the Windfall Lake area between Val d’Or and Chibougamau, Québec. The 1,150-hectare property is compelling due to the coincidence of gold in till with Magnetic highs, the number of Induced Polarization (“IP”) anomalies and the two faults crosscutting the property. Faults are proven controls to gold bearing mineralization in both the Gladiator deposit of Bonterra Resources Inc. (TSX.V: BTR) (“Bonterra”) and the Windfall Lake deposit of Osisko. In addition, Osisko recently drilled on various claims surrounding the Trove property and encountered gold on multiple sides of the Trove. The collars of several holes which intersected gold are within walking distance of Durango’s Trove border.
Proceeds from the flow-through financing, raised earlier this Spring, were used for an IP survey on the Trove property which highlighted 24 targets for mineralization at depths of 50 to 100m below surface including 15 high-priority drill targets. A drill program of 3,025m was recommended to commence as soon as possible.
Durango’s geologist has reviewed all recent and historic data and notes that the fault systems north and south of the Trove control gold mineralization proving the Trove has excellent exploration potential. Applications for drilling permits were submitted earlier this summer and the Company is presently awaiting one final permit before drilling may commence on the property.
Marcy Kiesman, CEO of Durango stated, “Similarities of the geological, geochemical and geophysical signatures with other discoveries made in the Windfall Lake area are extremely exciting for discovery potential and the upcoming drill campaign. We know the structures crossing the property carry gold on multiple sides of the border so we are anxious to deploy our drill team to Trove and the Windfall Lake Camp. The discovery of the gold mineralized structures on multiple sides of the property by Osisko warrants drilling as the obvious next step for the Trove” (see news release dated July 2, 2019).
The technical contents of this press release were approved by George Yordanov, professional geologist, an Independent Qualified Person as defined by National Instrument 43-101. The property has not yet been subject to an NI-43-101 report.
Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company is positioned for discovery with a 100% interest in a strategically located group of properties in the Windfall Lake gold camp in the Abitibi region of Québec, Canada.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com.
Marcy Kiesman, CEO
Telephone: 604.428.2900 or 604.339.2243
This document may contain or refer to forward-looking information based on current expectations 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.