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Durango Resources Inc V.DGO

Alternate Symbol(s):  ATOXF

Durango Resources Inc. is a Canada-based 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 Troilus gold camp and in the Windfall Lake gold camp in the Abitibi region of Quebec, Canada. It has 100% ownership of the Mayner’s Fortune claims in British Columbia. The Mayner’s Fortune limestone property is located in the Skeena Mining Division approximately 7.5 kilometers (km) southwest of Terrace, British Columbia. Its 100%-owned NMX East property is adjacent to the Whabouchi Lithium Deposit and Hydromet Plant Project. It owns land packages in the Babine copper-gold district of west-central British Columbia. The Company has a 100% interest in the Decouverte Property situated in Quebec. Its Discovery Property is located about 100 km north of Chibougamau, Quebec. It holds about 9,500 hectares in the Windfall Lake exploration camp area.


TSXV:DGO - Post by User

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Post by Packershabsfanon May 30, 2017 10:52am
184 Views
Post# 26300245

News

NewsMay 30, 2017 (TheNewswire.ca via COMTEX News Network) -- (via TheNewswire) Vancouver, BC / TheNewswire / May 30, 2017 - Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTC-ATOXF), (the "Company" or "Durango") announces that it is planning further exploration for the Decouverte Property in relation to its grant from the Institut National de la Recherche Scientifique ("INRS") as announced June 1, 2015, September 18, 2015, November 5, 2015 and November 30, 2015. 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 is 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. It is noteworthy to mention that there are three important massive sulphide showings to the west (Fallara, Rapides Assinica and Lucky Strike) and to the East are VMS deposits with proven resources (Tortigny, Lessard, De Maures, Moleon). The INRS grant (FQRNT-MERN-MINES) on the Decouverte property is being used to focus on defining the electromagnetic (EM) anomalies from Durango's Dighem airborne survey, which may be indicative of massive sulphide mineralization. The research grant is being used on the site of the Decouverte property to test the utility of deep penetration geophysical methods (audiomagnetotelleluric: AMT, Controlled Source ElectroMagnetics; CSEM) to document the VMS mineralization potential of the lake Pasquale area. At the end of 2015, 9.9 km of magnetometric, gravimetric and electromagnetic (FDEM) surveys were carried out along 3 sections intersecting different lithological units and structures of the Decouverte property. These sections also intersect magnetic and EM anomalies detected by the DIGHEM heliborne survey. An audiomagnetotelluric survey was also realized to document the deep geophysics (0-1500m) under line 3 which intersects a large conductive magnetic anomaly. Given the presence of formational conductors on the Decouverte property, gravimetry and sub-surface electrical resistivity work will be carried out to characterize the main anomalies detected by the DIGHEM survey. A follow-up exploration program (outcrops, erratic blocks) will be carried out in 9 sectors previously identified as priority. Finally, a lithogeochemical study will be carried out to document the geochemical signature of felsic volcanics in the southern part of the property. This sector includes base metal showings associated with felsic and intermediate volcanics. According to the report of Falconbridge Ni, these showings had been discovered by ground FDEM and magnetic surveys. The work is planned to occur in late June and additional details will be announced as they become available. Rock sampling has been conducted by INRS and is undergoing petrophysics laboratory studies on the Decouverte rocks. The geophysical, petrophysical and geological data of the Decouverte is being developed into a model of the deep geology on the property. Once the report is completed it will be announced and published on the corporate website of Durango. Marcy Kiesman, CEO of Durango, stated, "The Decouverte property remains a compelling project for Durango due to its volcano-sedimentary environment and structural geology which increases the potential for a significant gold and /or VMS deposit. Durango is positioned for discovery as VMS deposits often occur in clusters which mean that the discovery of one may indicate that there are others nearby." The technical information in this news release has been reviewed and approved by Marc Richer-LaFleche, P.Geo QC, a qualified person as defined in National Instrument 43-101.
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