(TheNewswire)
Vancouver, BC - TheNewswire - October23, 2023 – Durango Resources Inc. (TSXV:DGO) (Frankfurt:86A1)(OTC:ATOXF), (the “ Company ” or“ Durango ”) is pleased to announce that further to the news ofOctober 6 and August 30, 2023, that the drill, helicopter and fieldcrew have arrived and started drilling and mapping at its wholly ownedNMX East Property located in the Eeyou-IstcheeJames Bay region of Québec.
The inaugural drill program is being completed viahelicopter access and the planned initial drilling is 800m toestablish the extent of a known pegmatite dyke for lithiumconcentration below surface. While the drilling is underway, Durangohas a field crew mapping the Property specifically focusing on mappingpegmatite outcrops.
The NMX East property borders the eastern perimeter ofNemaska Lithium’s Whabouchi deposit which is one of the richestspodumene deposits in the world based on its volume and grade. NemaskaLithium reports over 36M tonnes of spodumene is expected to beproduced at the Whabouchi deposit over a period of 33 years ( www.nemaskalithium.com ). Durango’s NMX East property claim border isapproximately 1.5km from the Whabouchi Mine pit and the drill locationis planned for approximately 2.8km away from the center of theWhabouchi pit.
Photo of the drill set up onDurango’s NMX East Property and the Whabouchi mine in thebackground. Photo courtesy of Tiera Naber.
Marcy Kiesman, CEO of Durango stated, “We aredelighted to begin our inaugural drill campaign on our prospectivelithium claims known as the NMX East Property. We are hopeful todelineate the extent of the pegmatites below surface due to ourproximity to the Whabouchi deposit and we know from previousexploration that Durango holds lithium, cesium and tantalum pegmatitesat surface on the NMX East Property.”
Additional updates will be announced as soon as theybecome available on the exploration program.
The Company would also like to announce the grant of3,000,000 options to directors, officers, and consultants of the Company. The options are exercisable at $0.05 and areset to expire 5 years from the date of grant being, October 20, 2023.The options are deemed to be fully vested at the date of grant.
About Durango
Durango is a natural resources company engaged in theacquisition and exploration of mineral properties. The Company is alsopositioned 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.sedarplus.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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