Durango owns 100% interest in the Discovery claims. Durango talks up potential neighbour in Quebec
2021-04-01 11:42 ET - News Release
Ms. Marcy Kiesman reports
DURANGO REPORTS CONSOLIDATION NEAR ITS DISCOVERY PROPERTY IN FROTET EVANS GREENSTONE BELT
Durango Resources Inc. has noted that Troilus Gold Corp. announced on March 23, 2021, that it entered into a definitive agreement with Urbangold Minerals Inc. to acquire all the issued and outstanding common shares of Urbangold, for approximately $19M.
If the consolidation completes, the Troilus land holdings will be over 142,000 hectares and magnify its position as the largest mineral claim holder in the region. Durango's Discovery (Decouverte) Property is located on strike to the southwest of the past producing Troilus mine and neighbours Urbangold. The Discovery Property is 6,700ha in size and covers an important geological NE-SW regional structure.
The Property has great road access and it is located a few kilometers from the Route du Nord.
Durango's technical team is in the process of preparing an exploration program for the Discovery Property in June 2021, after it completes its exploration program at Windfall Lake and will announce the plans in more detail as they become available.
Durango CEO, Marcy Kiesman, stated, "Durango is situated on strike with the Troilus Gold mine and will become a direct neighbour of Troilus Gold upon completion of the proposed transaction. This consolidation of the region is positive for Durango and for the exploration and growth of all of the assets in the area."
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 Discovery Property has not yet been subject to an NI-43-101 report.
Discovery (Decouverte), Quebec
Durango owns 100% interest in the Discovery claims, which are adjacent Osisko Mining Inc. (TSX-OSK) and are 60km away from Troilus Gold Inc.'s past producing mine. The claims are located 100km away from Chibougamau, Quebec in the Frotet Evans greenstone belt with year-round road access from the Route Nord. The 6,700-hectare property is compelling due to the structurally important south dipping synclinal fold nose deformed by a northwest fault zone and northeast structures.
About Durango
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.
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