(TheNewswire)
Vancouver, BC - TheNewswire - November 22, 2022 – Durango Resources Inc.(TSXV:DGO) (Frankfurt:86A1) (OTC:ATOXF), (the “Company” or “Durango”) announces that further to the news release of November 8, 2022, it has reviewed the mineral occurrence data from BC Mineral Titles Online for its staking near American Eagle Gold Corp.’s NAK copper discovery located in the Babine copper-gold porphyry district of west-central British Columbia. American Eagle recently announced a 125-meter discovery from surface of 1.02% copper equivalent on its NAK property maiden drill hole.
The NAK property reports older lithological units being intruded by an Eocene-aged diorite stock which is cut by a younger series of north trending biotite-feldspar porphyry rhyodacitic intrusives. According to the American Eagle Gold Corp. website (American Eagle to Acquire the NAK Copper-Gold Porphyry Project in British Columbia | American Eagle Gold) the copper gold mineralization seems to be associated with biotite-feldspar porphyry and rhyodacitic dykes and can occur along the margins of the dykes which also support the historical reports of the Durango claim mineralogy.*
After preliminary review of the BC Mineral Title Online (“MTO”) data, it appears that Durango’s newly staked ground is in the same geological land package as the NAK discovery, located in the Stikine Island Arc Terrane and underlain by a northwest trending Jurassic aged rock package. MTO reports on the Durango properties describe granodiorite stocks intruded by highly magnetic feldspar porphyry dikes of an Eocene-aged Plutonic Suite.
Durango has also acquired two additional land packages near the NAK copper discovery located in the Babine copper-gold porphyry district of west-central British Columbia. One land package is just over 2,000 hectares and borders Durango’s newly staked land package and American Eagle Gold Corp’s (TSXV-AE) NAK property. The second land package is approximately 500 hectares in size and is located east of the NAK discovery and covers a BC Mineral Title Online occurrence.
Durango now holds 3,500 hectares in the area and is continuing to review the historical reports in conjunction with the reported geology from others working in the area. The Company is in the process of creating a location map of the new claims and obtaining additional geological information which it will release as soon as it is available.
Marcy Kiesman of Durango stated, “While researching the area and the historical reports we discovered that there are reported copper occurrences over a large area and determined that acquiring additional claims is a strategic maneuver due to copper being a critical metal on both the Canadian and the American critical mineral list.”
The Company has agreed to pay $10,000 and issue 1,500,000 common shares to arm’s length vendors subject to TSXV approval for one hundred percent ownership of the claims.
*The historical reports have not been verified by the Company and therefore should not be relied upon. The technical contents of this press release were approved by Melanie Mackay, P.Geo., professional geologist, an independent qualified person as defined by National Instrument 43-101.
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 and Troilus gold camps 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
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, 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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