Vancouver, BC - TheNewswire - August 27, 2020 - Durango Resources Inc. (TSXV:DGO) (Frankfurt:86A1) (OTC:ATOXF), (the "Company" or "Durango") is pleased to report that further to its news released dated July 15, 2020, the exploration team is preparing to mobilize to its Windfall Lake properties.
Mechanical stripping and sampling will commence immediately on the northeast extremity of the Trove Property along Durango's high priority drill targets controlled by the NE-SW Barry fault. Durango has secured the equipment necessary to begin its fall program and the exploration team will begin its program next week by creating two trenches. The trenching will provide: (a) a cross section of the lithological contacts and the structural geology that will be used to align drilling more accurately; (b) a surface projection for drill interpretation; and (c) the collection of additional rock samples.
The excavating equipment will remain on site during the program as Durango will rehabilitate some sections of logging roads to allow for full access of the equipment which will include leveling and widening in areas on both the Trove Property and the parallel East Barry Property, as necessary.
Durango has identified 12 immediate drill targets for the Trove Property to test favourable IP signatures which coincide with geochemistry and geophysical anomalies including gold that was previously found in till samples. The drill campaign is scheduled to begin on or about the 15th of September on the Trove Property. Additional updates on the drill plan details will be released shortly.
Marcy Kiesman, CEO of Durango, stated, "We have just completed our largest financing in the history of the Company and I am very enthusiastic that Durango has a real opportunity to explore and complete drilling on all of the key areas set out in the initial drill program. Durango is in a position to continue drilling if the mineralization continues to correspond to that reported by Osisko Mining on their neighbouring property. The potential for the Trove and East Barry properties is high."
On August 25, 2020, Globex Mining Enterprises Inc. (TSX-GMX) announced it sold six cells in the Windfall Lake mining camp to Osisko Mining Inc. (TSX-OSK). As stated by Globex, "...two are near, to southwest and on strike of the Black Dog gold deposit." These two cells are tied to Durango's Trove Property northern boundary and 500 meters away from the drill targets planned in the upcoming campaign. https://durangoresourcesinc.com/_resources/images/Map-For-PR1.png
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 Trove and East Barry properties have not yet been subject to an NI-43-101 report.
Durango owns 100% interest in the Trove claims, which are surrounded by Osisko Mining Inc. (TSX: OSK) , in the Windfall Lake area between Val d'Or and Chibougamau, Quebec. The 1,185 hectare property is compelling due to the coincidence of gold found in tills coinciding with magnetic highs, several Induced Polarization anomalies and two faults crosscutting the property. The fault systems north and south of the Trove, control gold mineralization elsewhere, indicating the Trove has excellent exploration potential. Durango received all the final drill permits for the Trove property in September 2019 and ready to undertake its inaugural drill program.
East Barry, Quebec
Durango owns 100% interest in the East Barry claims which run parallel to Trove claims. The East Barry block is over 7,740 hectares in size and borders the eastern perimeter of Osisko's holdings and the southern perimeter of Bonterra's holdings and is less than 4km south of the Gladiator deposit. The East Barry claims host a gold trend which covers approximately 10km in length and is subparallel to the main Barry Fault held by Osisko. In 2018 a till sampling program was conducted and one of the till samples returned fourty-two (42) pristine gold grains with reported gold values of 2.184 g/t Au. A high count of pristine gold grains indicates that the gold has travelled a very short distance from its source. The East Barry block underwent an Induced Polarization survey in 2018 which identified a high priority target coincident with the high count of pristine gold grains.
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 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, 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.
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