Vancouver, BC - TheNewswire - November 19, 2020 - Durango Resources Inc. (TSXV:DGO) (Frankfurt-86A1) (OTC:ATOXF), (the "Company" or "Durango") is pleased to provide an update on the exploration program on its wholly owned Trove Property and East Barry Property at Windfall Lake, Quebec.
To date, 1,047m have been drilled in six holes on the Trove Property at an average depth of 174m. The objective of the drill campaign is to test IP anomalies derived from previous exploration work on the Trove Property. The Company is satisfied that the induced polarization ("IP") target zones have been intersected as planned on the first six holes. Further, approximately 1,000 samples are pending assays at the labs. The samples were submitted to the labs in batches as they were collected, and are expected to be completed soon.
Unseasonably wet and warm weather in the Windfall area has proved challenging for moving the drill between holes at Trove. The weather provided the exploration team an opportunity to take a short break which also helped to reduce the back log with the labs (currently up to 45 day turn around) before the scheduled resumption of drilling expected on Monday, November 23, 2020. Another six high priority holes are planned on the Trove Property to test coincident geophysical and geochemical anomalies beginning on Monday.
East Barry Property
Durango has recently submitted drill permit applications for the East Barry claim block to test a high priority target coincident with high till anomalies of up to 2.19 g/t gold and pristine gold grains in till trend. As soon as the weather conditions are favourable for access, a drill will be commissioned to East Barry to test a geophysical anomaly which aligns with an artificial intelligence ("AI") target.
Marcy Kiesman, CEO of Durango, stated, "While the warm weather was helpful for Durango's exploration crew expanding the ground exploration program onto the East Barry Property this past month, it has created challenges for drilling on the Trove Property. Our team has been successful working on three of the four IP grids and drilling six of the high priority holes as planned on the Trove Property thus far. Our team was also effective in completing surface work on the East Barry Property which provided a compelling case for test drilling in an area with a known AI target. We look forward to continued drilling into the winter months and releasing the assay results as they become available."
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 Trove Property has not yet been subject to an NI-43-101 report.
Trove Property, Quebec
Durango owns 100% interest in the Trove claims, which are surrounded by Osisko Mining Inc. (TSX-OSK), in the Windfall Lake area between Val d'Or and Chibougamau, Quebec. The 1,185 hectare property is compelling due to the coincidence of gold found in tills coinciding with magnetic highs, several Induced Polarization anomalies and two faults crosscutting the property. The fault systems north and south of the Trove, control gold mineralization elsewhere, indicating the Trove has excellent exploration potential. Durango received all the final drill permits for the Trove property in September 2019 and is currently undertaking its inaugural drill program.
East Barry Property, Quebec
Durango owns 100% interest in the East Barry claims which run parallel to Trove claims. The East Barry block is over 7,740 hectares in size and borders the eastern perimeter of Osisko's holdings and the southern perimeter of Bonterra's holdings and is less than 4km south of the Gladiator deposit. The East Barry claims host a gold trend which covers approximately 10km in length and is subparallel to the main Barry Fault held by Osisko Mining. In 2018, a till sampling program was conducted by Durango and one of the till samples returned forty-two (42) pristine gold grains with reported gold values of 2.184 g/t Au. A high count of pristine gold grains indicates that the gold has travelled a very short distance from its source. The East Barry block underwent an Induced Polarization ("IP") survey in 2018 which identified a high priority target coincident with the high count of pristine gold grains.
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
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.
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