Vancouver, March 11, 2021 - Durango Resources Inc.
(TSXV:DGO) (Frankfurt:86A1) (OTC:ATOXF), (the "Company" or "Durango") reports that recent drilling on its wholly owned Trove Property at Windfall Lake, Québec has intersected visible ("native") silver in its latest drill hole.
The drill hole was completed on the northern portion of the Trove Property and was targeted to test a magnetic and Induced Polarization ("IP") anomaly in the area. The hole was drilled sub-perpendicular to the Rouleau fault which continues onward to the Gladiator deposit of neighbouring Bonterra Resources Inc. (TSX-BTR) and is where the Windfall Lake structure converges. http://www.durangoresourcesinc.com/_resources/images/Windfall-drilling.jpg
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Trove Property drill hole location outline
"Native silver" is composed of atoms from a single element of Ag (silver). Silver is usually associated with gold, copper and sulphides. Native silver is usually found in hydrothermal systems developed around felsic to intermediate magma. The presence of native silver is an indicator of a last phase of hydrothermal solution precipitation after K-feldspar, pyrite and gold. Native silver is generally found bordering important magmatic-hydrothermal systems.
Durango's latest diamond drill hole intersected 9 meters of orogenic styles of mineralization in a shear zone which contained native silver identified at multiple depths including 285 and 288 meters below surface. Overall observations of the drill core included multiple shear and breccia zones, silica-sericite-carbonate-tourmaline-epidote alteration, mineralized quartz veins, and mineralized felsic dikes in contact with volcanic units.
General mineralization consisted of disseminated pyrite and stringers, sphalerite and pyrrhotite associated with shear and alteration zones. The presence of visible silver is an indication that the current drilling is near of a hydrothermal system. Durango plans to continue drilling down dip to test the system.
The drill core has been submitted for lab analysis and results are pending.
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Marcy Kiesman stated, "Native silver is encouraging for Durango's exploration drilling program as it may suggest we are closer to a discovery on the Trove Property. Durango looks forward to continued drilling to further test the area and locate mineralization at lower levels."
Native silver under 20x magnification
http://www.durangoresourcesinc.com/_resources/images/Native-silver.jpg *** Picture is only meant to be illustrative of ongoing exploration activities. The results of the exploration program can only be quantified through assays from an independent laboratory. Assays will be made public by way of press release(s) once completed and compiled by technical teams and independent contractors.
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, Québec
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, Québec. 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 is currently undertaking its inaugural drill program.
East Barry Property, Québec
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 noticeably 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 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
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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