(via TheNewswire)
Vancouver, BC - TheNewswire - February 20, 2020 - Durango Resources Inc.(TSXV:DGO) (FSA:86A1) (OTC:ATOXF), (the "Company" or "Durango") announces that it has formed a technical advisory committee (the "Technical Committee") to expedite the exploration of its Windfall Lake properties.
The recently formed Technical Committee has appointed Mr. Dale Ginn, to act as Chair due to his proven ability and history of making discoveries in the Windfall Lake Gold District of Quebec. Mr. Ginn joins the team with over 30 years of exploration experience and base metal discoveries, including the Gladiator, Hinge, 007, 777, Trout Lake and Tartan lake deposits. Mr. Ginn specializes in complex structurally controlled deposits and is an experienced mining executive. Mr. Ginn was awarded the Quebec Discovery of the Year Golden Hammer award in 2018 for the Gladiator deposit in the Windfall Lake Gold Camp.
The additional members of the Technical Committee are Durango directors, Melanie MacKay, P. Geo. and Joanne Freeze, P. Geo.
Mr. Dale Ginn states, "Based on the exploration data to date, Durango appears to share similar geology to other deposits in the area. The gold-bearing Barry fault crosses through the Gladiator deposit and continues southwesterly to bisect Durango's Trove Property which is important as the gold deposits in the area to date are structurally controlled. It is exciting to work in the area once again and I look forward to advising Durango in exploring its Trove property which is positioned for discovery."
Marcy Kiesman, CEO of Durango stated, "We are thrilled to have Dale Ginn lead as the Chair of our Technical Committee to advance our projects at Windfall Lake. Mr. Ginn is a highly experienced geologist with a proven track record of discoveries and also possesses many years of experience at the nearby Gladiator deposit situated 4 km from Durango's Windfall Lake land holdings."
Additional information on the Windfall Lake properties and Durango's 2020 exploration program will be released as it becomes available.
The Company would also like to announce the issuance of 1,600,000 options to directors, officers and consultants exercisable at $0.10 for a period of five years. Further to the news of November 30, 2019, Durango closed a non-brokered private placement of 625,000 Units for gross proceeds of $50,000. Proceeds were raised as BC Flow Through Units at a price of $0.08 per unit and each unit consisted of one common share and one share purchase warrant exercisable at $0.125 for a period of two years, expiring November 27, 2021. As per TSX Venture policy, the issued units are subject to a hold period of four months expiring March 28, 2020.
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.
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
Email: durangoresourcesinc@gmail.com
Website: www.durangoresourcesinc.com
Forward-Looking Statements
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, adverse weather conditions, failure to maintain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. 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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