Tickers: XTSX:DGO, PINX:ATOXF
Vancouver, BC - TheNewswire - September 12, 2019 - Durango Resources Inc. (TSXV:DGO) (Frankfurt-86A1) (OTCQB:ATOXF), (the "Company" or "Durango") announces that further to the news release of August 26, 2019, final permits have been obtained for it's 3,025m drill program on its Trove Property located in the Windfall Lake gold camp of Quebec. http://durangoresourcesinc.com/wp-content/uploads/2019/08/Urban-WIndfall-Gold-Belt-Map-simple.jpg
Durango is pleased to announce that it has now received its drilling permits for the Trove project and will now begin reviewing bids from diamond drill companies for the drill campaign.
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, Quebec. 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. The fault systems north and south of the Trove control gold mineralization indicating the Trove has excellent exploration potential.
Marcy Kiesman, CEO of Durango stated, "Now that Durango has been granted all the necessary permits for drilling, the next step is to finalize a drilling contractor. The similarities of the geological, geochemical and geophysical signatures with other discoveries made in the Windfall Lake area prove to make an exciting drill program. We know the structures crossing the property carry gold on multiple sides of the border so we are anxious to finalize and deploy our drill team to Trove and the Windfall Lake Camp."
The Company would also like to clarify that further to the news of March 29, 2019, the Company closed $210,324 as the first tranche of a non brokered financing and as per July 25, 2019 news release, a final tranche of $69,982 for a total amount of $280,306 gross proceeds. Proceeds of $180,199.98 were raised as flow through for the exploration of the Trove Property in the Windfall Lake area of Quebec and $100,106.93 were raised as non flow through for administrative purposes. For full details of the tranches and the specified hold periods please see news release dated July 25, 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 Quebec, 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.
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