Durango to start exploration at Decouverte next week
Durango to start exploration at Decouverte next week
2017-07-14 06:19 ET - News Release
Ms. Marcy Kiesman reports
DURANGO PREPARES FOR GEOPHYSICAL EXPLORATION ON DECOUVERTE (DISCOVERY), QC
Further to the news release of May 30, 2017, exploration on the Decouverte (discovery) property resulting from Durango Resources Inc.'s grant from the Institut National de la Recherche Scientifique (INRS) is expected to commence next week.
The property is wholly owned by Durango and is in the Frotet-Evans greenstone belt in Northern Quebec approximately 100 kilometres to the northwest of the town of Chibougamau. Neighbours on the west side of the property are Osisko Mining Inc.'s Assinica property and to the northwest is Beaufield Resources Inc.'s Troilus-Tortigny property. The former-producing Troilus mine is approximately 60 km northeast along the same fault.
The July portion of the INRS grant (FQRNT-MERN-MINES) exploration program is expected to last four to five days and will prepare the lines for the electromagnetic (EM) equipment. A more thorough program is planned for INRS this September to focus on defining the EM anomalies from Durango's previous DIGHEM airborne survey, which may be indicative of massive sulphide mineralization. Given the presence of formational conductors on the property, gravimetry and subsurface electrical resistivity work will be carried out to characterize the main anomalies detected by the DIGHEM survey.
The September follow-up induced polarization (IP) exploration program (outcrops, erratic blocks) will be carried out in nine sectors previously identified as priority as can be seen on the corporate website. A lithogeochemical study is expected to be carried out to document the geochemical signature of felsic volcanics in the southern part of the property.
Marcy Kiesman, chief executive officer 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 fortunate to have INRS conducting its research on the property as IP can help identify zones such as the Detour gold zone 58. Additionally, VMS deposits often occur in clusters which mean that the discovery of one may indicate that there are others nearby."
About Decouverte
The 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 gold and 50,000 tonnes copper 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 (see news release dated 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 parts per billion gold, 0.66 part per million silver, 150 ppm nickel, 200 ppm copper and 240 ppm barium. Chip/channel rock samples gave values of 7.6 grams per tonne 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 of Chibougamau, Que., and benefits from favourable infrastructure, including road accessibility, being 10 kilometres from Route du Nord, and a power line that bisects the property.
About Durango Resources Inc.
Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The company has a 100-per-cent interest in the Mayner's Fortune and Smith Island limestone properties in northwest British Columbia, the Decouverte and 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.