Vancouver, BC / TheNewswire / July 25, 2017 - Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTC-ATOXF),(the "Company" or "Durango")announces that further to the news of July 14, 2017, the line cutting on the Decouverte Property in relation to its grant from the Institut National de la Recherche Scientifique ("INRS") is complete.
Durango's wholly owned Decouverte (Discovery) property is in the Frotet-Evans greenstone belt in northern Quebec approximately 100km to the northwest of the town of Chibougamau. Neighbours on the west side of the project 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 consisted of preparing the lines for the electromagnetic (EM) equipment, which is planned to arrive on site in September. The fall program will allow INRS to focus on defining the EM anomaliesfrom Durango's previous DIGHEM airborne survey, which may be indicative of massive sulphide mineralization.
Marcy Kiesman, CEO of Durango, stated, "Durango is fortunate to have INRS conducting its research on our Decouverte property as Induced Polarization (IP) can help identify zones such as the Detour gold zone 58. These types of VMS deposits often can occur in clusters which means that the discovery of one may indicate that there are others nearby. We look forward to the return of the INRS crew in September and the results of the IP survey."
The Decouverte 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 ofChibougamau, Quebec 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, theDecouverteand Trove gold properties in the Abitibi Region of Quebec, and the NMX East lithium property near the Whabouchi mine and the Buckshot graphite property near the Miller Mine in Quebec, 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
Email: [email protected]
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to the exploration of its properties 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 atwww.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.
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