AveragePenny
3 years ago
$ATOXF $DGO.V DURANGO TO CONDUCT ADDITIONAL ASSAYS ON SAMPLES
https://backend.otcmarkets.com/otcapi/company/dns/news/document/51908/content
Vancouver, BC / TheNewswire / August 3, 2021 – Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTCQB -ATOXF), (the “Company” or “Durango”) announces that further to the news release of March 11, 2021, the Company has determined, in consultation with the laboratory, to conduct additional assays on samples obtained from the Trove Property exploration drilling program completed earlier this year. The results of the assays will be announced as soon as they are available.
The Trove property is located south of Windfall Lake and is surrounded by Osisko Mining Inc. (TSX-OSK) on multiple sides. The Abitibi Greenstone belt has produced over 200M ounces of gold in the past century and Durango owns 100% interest in the 1,185 hectare Trove claims which are located parallel to the East Barry Property claims which are also wholly owned by Durango.
The purpose of the drill campaign on the Trove Property was to test geophysical anomalies and identify the structure, dip and fertility of the rock and understand the geology in the area based solely on the geophysical and till knowledge as there is limited outcrop on the Trove Property and the property has virtually no exploration until these past few years. The Trove Property hosts a crosscutting fault system striking towards Windfall Lake giving it great discovery potential.
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.
AveragePenny
3 years ago
ATOXF DGO.V DURANGO REPORTS GOLD AND SILVER IN GRANITE AT EAST BARRY
News Link: https://backend.otcmarkets.com/otcapi/company/dns/news/document/51344/content
Vancouver, BC / TheNewswire / July 14, 2021 – Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTCQBATOXF), (the “Company” or “Durango”) announces that the Company has received its assay results for the East Barry Property orientation drill program completed earlier this year and anomalous gold and silver have been discovered in a large granitic pluton.
The East Barry Property is located south of Windfall Lake and adjoins both Osisko Mining Inc. (TSX-OSK) and Bonterra Resources Inc. (TSX-BTR) in the Abitibi Greenstone belt which to date has produced over 200M ounces of gold. Durango wholly owns the 7,740-hectare East Barry Property which runs parallel to its wholly owned Trove Property at Windfall Lake, Québec. The East Barry Property hosts a crosscutting fault system striking towards Windfall Lake lending the project great discovery potential.
The purpose of the initial East Barry drill campaign was to gain an understanding of the geology in the area and to identify the structure, dip, and fertility of the rock. The outcrop on the East Barry Property is limited and virtually no historical exploration has occurred on the property prior to the recent work completed by Durango. To date, knowledge of the area has been based solely on the geophysical surveys and till sampling completed by Durango. Previous till surveys identified a gold trend of up to 10 km with gold assays reaching up to 2.19 g/t Au (Fig. 1). Durango’s exploratory drill holes were conducted as an initial step to help identify a prospective target for the source of the gold in the till, given the limited outcrop at surface.
There were three HQ drill holes completed on the East Barry Property during the 2021 exploration campaign, namely;
• DGE21-1
• DGE21-2
• DGE21-3
Hole DGE21-1 was angled at 184/62 degrees and was drilled to 789 meters(640 meters vertical), with the objective of confirming the geology and structure interpretation that has been made based on local geophysical interpretation and till anomalies. The totality of the hole was represented by granitic to granodioritic rock and returned 1 meter of silver assaying 65 g/t Ag at 653m downhole. Chromium levels of 122ppm were associated with the silver anomaly as well as magnesium 2.39ppm, copper 147ppm and nickel of 55.9ppm.
Hole DGE21-2 was drilled with the objective of gaining structural orientation and was stopped at 372 meters (240 meters vertical). This hole returned 3.2 g/t Ag over the 237 - 238 meters interval and 1.7 g/t Ag at 345 - 346 meters. These intervals were both in a highly fractured zone, suggesting the importance of a brittle deformation zone to feed mineralization in the system.
Hole DGE21-3 was drilled to the east of hole DGE21-1 and was stopped at 808 meters (660 meters vertical depth). It intersected felsic granite with no visible indicators of alteration until a depth of 470m. Starting at 470m, an important epidote-biotite-amphibole-chlorite alteration zone and an amphibolite lens was observed. Brecciated zones were found within the amphibolite which were strongly altered. Felsic porphyry and pegmatitic decimetric to metric dykes were intercepted at multiple depths. The presence of hydrothermal alteration zones associated with a brittle structure indicates a prolific environment for gold mineralization.
Assays for hole DGE21-3 began at 153m and returned six one-meter intersections of anomalous gold values in the granite, ranging from 0.132 to 0.629 g/t Au, with a slight trend of increasing gold values with depth. The presence of gold inside a large granitic pluton is positive for the East Barry Property asit indicates the hydrothermal system is carrying gold. Granitic intrusions are known for providing optimal sites for large volume gold-bearing systems.
The East Barry drill program was successful in identifying the fertility of the underlying rocks to carry gold and it also provided promising indicators that the gold values increase with depth and coincide with hydrothermal alteration zones, which is typical for the area. The geology on the East Barry Property continues to demonstrate that the Windfall Lake area was created by an extremely large deep-rooted hydrothermal gold system and that additional deeper drilling should be completed.
Marcy Kiesman, CEO of Durango comments:
“We are pleased to have made a gold discovery in the granitic intrusion as it speaks to the potential of a nearby gold source and also coincides with the gold in the till that we have discovered on the East Barry Property to date. We now know that the hydrothermal system is in place on the East Barry Property and that it is carrying gold which is exactly what we were hoping to discover with our test drilling. Durango’s team will promptly review all of the newly acquired data and to conduct further strategic drilling to find the main source of gold.”
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.
Corporate Update
Durango also advises that, further to its news release dated February 18, 2021, that Core Consultants (“Core”) continues to service Durango in its IR efforts. As a result of the ongoing delays in receiving its assay results from past exploration programs related to COVID-19, management has thus far spent only a fraction of the USD$120,000 budget that was previously announced. As the country continues to resume economic activity and staff in the assay labs return to work, Durango and Core will manage its IR spending in a deliberate, focused manner as additional results become available.
The Company would like to thank Ms. Twila Jensen for her service as an independent director on Durango’s Board for the past six years. Ms. Jensen has decided to focus her time on her role as VP of Sales and Marketing of Stockhouse where she has worked for the past 8 years. The Durango team looks forward to continuing to work with Ms. Jensen in her marketing capacity at Stockhouse.
AveragePenny
4 years ago
$ATOXF $DGO.V DURANGO RECEIVES DRILL PERMITS FOR NMX EAST PROPERTY
https://backend.otcmarkets.com/otcapi/company/dns/news/document/50398/content
Vancouver, BC / TheNewswire / June 4, 2021 – Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTCQB - ATOXF), (the “Company” or “Durango”) reports that further to the news of May 25, 2021, Durango has received the drill permits for its wholly-owned NMX East Property located near Nemaska, Québec.
The NMX East property borders the eastern perimeter of Nemaska Lithium’s Whabouchi deposit which is one of the richest spodumene deposits in the world based on its volume and grade. Nemaska Lithium reports over 36M tonnes of spodumene is expected to be produced at the Whabouchi deposit over a period of 33 years (www.nemaskalithiu m.com). Spodumene is used to produce lithium salts which are used for the lithium-ion battery market and have become increasingly popular in recent years due to growing demand for electric vehicles.
To date, Durango has ascertained that lithium, cesium, and tantalum (“LCT”) are present at surface in pegmatite outcrops on its NMX East Property with potential for more to exist below surface. Durango has now received the drill permits for two exploration holes on the property to test drill the pegmatite outcrops at depth to determine the potential scalability of the project. The NMX East has great road access from the Route du Nord and is easily accessible. Durango is planning to follow up on previous LCT pegmatite sampling obtained at surface from grab samples on its NMX East property and plans to deploy a crew during the summer. The drill permits are valid until March 31, 2022.
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 NMX East Property has not yet been subject to an NI-43-101 report.
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