(TheNewswire)
Vancouver, BC - TheNewswire -December 12, 2022 – Durango Resources Inc. (TSXV:DGO) (Frankfurt:86A1)(OTC:ATOXF), (the “ Company ” or“ Durango ”) announces that further to the news of August 2, 2022,the Company has begun to receive assays for its summer explorationcampaign on its wholly owned Discovery Property (the “ Property ”) inQuébec.
The Discovery Property adjoins Sayona Mining Ltd.(ASX-SYA) in the highly prospective James Bay Territory, 100km northof Chibougamau, Québec in the Frotet-Evans greenstone belt. On July6, 2022, Durango announced the completion of a1,737m exploration drill campaign in an area with known gold anomalieson the Discovery Property. Six exploratory holes were completedranging from depths of 150m to 402m and the drill core is stillundergoing assaying.
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 holesassayed despite uneconomic gold values. Lithium bearing pegmatite podshave been intersected in each of the three drill holes assayed andvalues up to 748ppm lithium, 3,830ppm rubidium and 436ppm cesium havebeen reported. Elevated copper and zinc were also present in all threeholes, reaching up to 2,100ppm copper and up to 4,740ppm zinc. Ten pegmatite dykes were mapped at surface thisyear in a relatively small area of the property with lengths rangingfrom a few meters to 55 meters in length. These dykes have not yetbeen tested at depth.
A sample of the pegmatite hostinglithium in DDH2.
Marcy Kiesman, CEO of Durango stated, “We have foundexciting gold anomalies at surface in quartz veining at the Discoveryproject which is more interesting now that we also have pegmatiteintersections and lithium anomalies in each drillhole. The recentdrillhole assays combined with the potential for additional pegmatitedykes on the Discovery property is encouraging. The lithiumintersection seems logical since the Discovery Property is proximal tothe Moblan lithium deposit which hosts over 12Mt @ 1.4% Li 2 0. The Discovery Property will requirefurther attention from our technical team as the balance of the assaysare received.”
At the time of this news release, Durango is stillwaiting on approximately half of its assays on the Discovery Propertyand further updates and results will be announced on the DiscoveryProperty as they become available.
Melanie Mackay P.Geo, is the qualified person forDurango Resources Inc. and approves the technical content in this newsrelease.
About Discovery
The Discovery Property is located on strike to thesouthwest of the past producing Troilus gold mine and neighboursTroilus Gold Corp. (TSX-TLG). The Discovery Property is over 6,500hain size and covers an important geological northeast to southwestregional structure. The Discovery Property has great road access andis accessible year-round via the Route du Nord.
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 Troilus goldcamp and in the Windfall Lake gold camp 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 than statements of historicalfacts, that address events or developments that the Company expects tooccur, are forward-looking statements. Although the Company believesthe expectations expressed in such forward-looking statements arebased on reasonable assumptions, such statements are not guarantees offuture performance and actual results may differ materially from thosein 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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