Vancouver, BC - TheNewswire - January 8, 2021 – Durango Resources Inc. (TSXV-DGO) (Frankfurt-86A1) (OTC:ATOXF), (the “Company” or “Durango”) is pleased to announce that further to the news release of December 18, 2020, the drill and team from Faubert & Fils Inc. has arrived on site on its wholly owned East Barry property at Windfall Lake, Québec.
East Barry Property
Further to the news release of November 19, 2020, Durango has received drill permits for the East Barry claim block to test high priority targets coincident with high till anomalies of up to 2.19 g/t gold and pristine gold grains in till trend. Now that weather conditions are favourable for access, a winter road has recently been built and a drill is on site at the East Barry Property. The drilling is scheduled to begin on January 11th with two exploration holes on the East Barry Property budgeted for depths of approximately 750m each.
To date, 2,100m has been drilled over nine holes on the Trove Property at an average depth of 233m. Drilling on the Trove Property stopped before Christmas and Durango’s exploration crew has not been back to Windfall Lake yet in 2021 due to the Québec government Covid-19 restrictions. The Association de l’exploration Miniere du Québec (“AEMQ”) announced on January 6, 2021 that the government has made the decision to maintain mining activities, allowing exploration to continue in Québec.
Durango’s high priority targets on the Trove Property were not drilled in 2020 due the inaccessibility because of the warm weather, however the roads have since been packed and frozen which will now allow drill access to the high priority drill hole targets. Durango has 20 high priority holes planned for drilling on the Trove Property, between 200 and 800 meters deep, which are expected to commence promptly after the holes at Easy Barry have been drilled.
Marcy Kiesman, CEO of Durango, stated, “With the warm weather now behind us, Durango is now able to continue with our inaugural drill campaign on the Trove and East Barry Properties. We are drilling in one of the best regions in Canada to find gold, we are fully financed and look forward to drilling throughout the first quarter of 2021. We anticipate an exciting year ahead for Durango and creating value for our shareholders.”
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. Neither the Trove Property or the East Barry Property have been subject to an NI-43-101 report.
Trove Property, Québec
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, Québec. 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 is currently undertaking its inaugural drill program.
East Barry Property, Québec
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 Mining. In 2018, a till sampling program was conducted by Durango and one of the till samples returned forty-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 (“IP”) 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 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 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, 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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