DGO:CC - Durango Visits Mayner's Fortune
(TheNewswire)
Vancouver, BC - TheNewswire - August22, 2023 – Durango Resources Inc. (TSXV:DGO) (Frankfurt:86A1)(OTC:ATOXF), (the “ Company ” or“ Durango ”) announces that further to the news of May 23, 2023, theCompany has completed a site visit to Mayner’s Fortune limestoneproperty located near Terrace, B.C.
Durango’s Mayner’s Fortune property is 7.5km southof the Terrace airport with an area of interest consisting of atwo-kilometre-thick metasedimentary sequence hosting at least six subparallel N to NE striking limestone (with minor marble) units. Thefirst limestone unit has historical inferred reserves of 454,000tonnes grading 96.3% calcium carbonate which is a non-43-101 compliantresource and has not been verified by the Company. Representativesamples taken from exposed outcrop have returned calcium carbonatelevels of up to 99.9% at surface*.
The limestone area is easily accessible and can bedriven to by logging roads and has been mapped and measured at 1.6kmlong at surface. Previous reports have indicated that limestone unitsone and three are of high quality and size but due to the ease inaccessibility and the grand size Durango is interested to see if thefifth limestone unit is high quality at depth. A small crew visitedthe site in July to evaluate road access and drill hole locations andhas collected grab samples for assay analysis to determine materialcompatibility.
The Company has been advised that it does not have bulktonnage production authorization until it has received its License ofOccupation from Lands and completed the level of productionconsultation with First Nations which may be acted upon once thequality and quantity of limestone has been determined from testdrilling.
Global Growth of LimestoneMarket
In 2022, the global limestone market size was valued atUSD $72 billion with the expectation to grow at a compound annualgrowth rate (CAGR) of 7.3% for the next seven years. The use oflimestone for water treatment and purification activities is one ofthe forces driving the demand of limestone in coming years. Global Limestone Market Size, Share& Growth Report, 2030 (grandviewresearch.com)
*The historical reports have not been verified by theCompany and therefore should not be relied upon. The technical contents of this press release were approved byMelanie Mackay, P.Geo., professional geologist, an independentqualified person as defined by National Instrument 43-101.
About Durango
Durango is a natural resources company engaged in theacquisition and exploration of mineral properties. The Company ispositioned for discovery with a 100% interest in a strategicallylocated group of properties in the Windfall Lake and Troilus goldcamps in the Abitibi region of Québec ,Canada.
For further information on Durango, please refer to itsSEDAR 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?lookinginformation or statements” within the meaning of applicablesecurities laws, which may include, without limitation, statementsthat address the upcoming work programs, and other statements relatingto the business, financial and technical prospects of the Company. Allstatements in this news release, other thanstatements of historical facts, that address events or developmentsthat the Company expects to occur, are forward-looking statements.Although the Company believes the expectations expressed in suchforward-looking statements are based on reasonable assumptions, suchstatements are not guarantees of future performance and actual resultsmay differ materially from those in the forward-looking statements.
Such statements and information are based on numerousassumptions regarding present and future business strategies and theenvironment in which the Company will operate in the future, includingthe price of minerals, the ability to achieve its goals, the COVID-19pandemic, that general business and economic conditions will notchange in a material adverse manner, that financing will be availableif and when needed and on reasonable terms. Such forward-lookinginformation reflects the Company’s views with respect to futureevents and is subject to risks, uncertainties and assumptions,including those filed under the Company’s profile on SEDARat www.sedar.com . Factors that couldcause actual results to differ materially from those in forwardlooking statements include, but are not limited to, continuedavailability of capital and financing and general economic, market orbusiness conditions. The Company does not undertake to updateforward?looking statements or forward?looking information, exceptas required by law.
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
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