(TheNewswire)
Vancouver, BC / TheNewswire / May 23,2022 – Durango Resources Inc. (TSXV : DGO) (Frankfurt:86A1)(OTC:ATOXF), (the “ Company ” or“ Durango ”) is pleased to announce that it has received from theBritish Columbia Ministry of Energy, Mines and Petroleum Resourcespermitting which authorizes the production of up to 10,000 tonnes oflimestone for the next five years on the Mayner’s Fortune propertylocated near Terrace, BC.
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% limestone 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 Company plans to do additional mapping near thefifth limestone unit, followed by trenching, test drilling andproduction (if warranted). The 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.
Marcy Kiesman of Durango stated, “We are happy thatthe Ministry of Mines has had time to review our documentation andissue Durango the bulk tonnage permit. Our geological team is nowworking on timing for a site preparation visit to Mayner’s whichwill be followed by additional exploration.”
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 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 could causeactual results to differ materially from those in forward lookingstatements include, but are not limited to, continued availability ofcapital and financing and general economic, market or businessconditions. The Company does not undertake to update forward?lookingstatements or forward?looking information, except as required bylaw.
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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