Durango Receives Drill Permits For NMX East Property
Vancouver, BC / TheNewswire / June 4, 2021 – Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTCQB -ATOXF), (the “Company” or “Durango”) reports that further to the news of May 25, 2021, Durango has received the drill permits for its wholly-owned NMX East Property located near Nemaska, Québec.
The NMX East property borders the eastern perimeter of Nemaska Lithium’s Whabouchi deposit which is one of the richest spodumene deposits in the world based on its volume and grade. Nemaska Lithium reports over 36M tonnes of spodumene is expected to be produced at the Whabouchi deposit over a period of 33 years (www.nemaskalithium.com). Spodumene is used to produce lithium salts which are used for the lithium-ion battery market and have become increasingly popular in recent years due to growing demand for electric vehicles.
To date, Durango has ascertained that lithium, cesium, and tantalum (“LCT”) are present at surface in pegmatite outcrops on its NMX East Property with potential for more to exist below surface. Durango has now received the drill permits for two exploration holes on the property to test drill the pegmatite outcrops at depth to determine the potential scalability of the project. The NMX East has great road access from the Route du Nord and is easily accessible. Durango is planning to follow up on previous LCT pegmatite sampling obtained at surface from grab samples on its NMX East property and plans to deploy a crew during the summer. The drill permits are valid until March 31, 2022.
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 NMX East 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.
This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements that address the upcoming work programs, and other statements relating to the business, financial and technical prospects of the Company. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements.
Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of minerals, the ability to achieve its goals, the COVID-19 pandemic, the obtaining of permits, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those filed under the Company’s profile on SEDAR at www.sedar.com. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
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.