Vancouver, BC – TheNewswire – December 12, 2022 – Durango Resources Inc. (TSXV:DGO) (Frankfurt:86A1) (OTC:ATOXF), (the “Company” or “Durango”) announces that following the news of August 2, 2022, the Company has begun receiving assays for its summer exploration campaign on its wholly owned Discovery Property (the “Property“) in Québec.
The Discovery Property is adjacent to Sayona Mining Ltd. (ASX-SYA) in the promising James Bay Territory, 100 km north of Chibougamau, Québec in the greenstone belt of Frotet-Evans. On July 6, 2022, Durango announced the completion of a 1,737 m exploration campaign in an area of known gold anomalies on the Discovery Property. Six exploratory holes were completed ranging from depths of 150 m to 402 m and the drill core is still being tested.
To date, partial results have come in for holes 1, 2 and 4. The company is pleased to report that elevated lithium, rubidium and cesium have been intersected in each of the three tested holes, despite uneconomical gold values. Lithium-containing pegmatite pods have been intersected in each of the three boreholes tested and values up to 748 ppm lithium, 3,830 ppm rubidium and 436 ppm cesium have been reported. Elevated copper and zinc were also present in all three holes, up to 2,100 ppm copper and up to 4,740 ppm zinc. This year, ten pegmatite dykes with lengths varying from a few meters to 55 meters have been mapped on the surface in a relatively small part of the site. These dikes have not yet been tested for depth.
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A sample of the pegmatite that harbors lithium in DDH2.
Marcy Kiesman, CEO of Durango said: “We found exciting surface gold anomalies in the quartz veining on the Discovery project, which is more interesting now that we also have pegmatite intersections and lithium anomalies in every borehole. The recent borehole testing coupled with the potential for additional pegmatite dykes on the Discovery site is encouraging. The lithium crossing makes sense as the Discovery Property is near the Moblan lithium deposit which hosts over 12 Mt @ 1.4% Li20. The Discovery Property requires further attention from our technical team as the balance of the assays is received.
At the time of this press release, Durango is still awaiting about half of its testing on the Discovery Property and further updates and results will be announced on the Discovery Property as they become available.
Melanie Mackay P.Geo, is the qualified person for Durango Resources Inc. and approves the technical content in this press release.
The Discovery Property is on strike in the past Southwest producing the Troilus Gold Mine and neighbors Troilus Gold Corp. (TSX-TLG). The Discovery Property is over 6,500 acres and spans a major geological regional structure from northeast to southwest. The Discovery Property has excellent road access and is accessible all year round via the Route du Nord.
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 Troilus gold camp and in the Windfall Lake gold camp in the Abitibi region QuebecCanada.
For more information on Durango, see the SEDAR profile at www.sedar.com.
Marcy Kiesman, CEO
Phone: 604.428.2900 or 604.339.2243
This press release contains “forward-looking information or statements” within the meaning of applicable securities laws, which may include, but are not limited to, statements relating to upcoming programs of work and other statements regarding the Company’s business, financial and technical prospects . All statements in this press release, other than statements of historical fact, that relate to events or developments that the Company expects to occur are forward-looking statements. While the Company believes that 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 current and future business strategies and the environment in which the Company will operate in the future, including the price of minerals, its ability to achieve its goals, the COVID-19 pandemic, that general business and economic conditions will not change materially adversely, that financing will be available as and when required and on reasonable terms. Such forward-looking information reflects the Company’s views regarding 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 any forward-looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions. The Company undertakes no obligation to update forward-looking statements or forward-looking information, except as required by law.
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