(TheNewswire)
Vancouver, BC - TheNewswire - May 4,2023 – Durango Resources Inc. (TSXV:DGO) (Frankfurt:86A1) (OTC:ATOXF), (the“ Company ” or “ Durango ”) congratulates Osisko Mining Inc.(“Osisko”) (TSX-OSK) and a subsidiary of Gold Fields Limited fortheir recent announcement of a 50/50 joint venture agreement on theWindfall Gold Project in Québec.
On May 2, 2023, Osisko announced the 50/50 jointventure agreement on the Windfall gold project located in the Abitibigreenstone belt, Urban Township, Eeyou Istchee James Bay, QC. Osisko(osiskomining.com) Osisko’s Chairman andChief Executive Officer, John Burzynski stated “Today is the startof what we believe will prove to be a long and fruitful partnershipwith Gold Fields at Windfall, and in what we both believe is asignificant emerging gold district in Québec.”
Durango recently renewed its Trove Property which issurrounded by Osisko Mining Inc. in the district. Durango also holdsclaims known as the East Barry Property which border Osisko andBonterra Resources Inc. (TSX-BTR) in the Windfall Lake region and theEast Barry claims are also in the renewal process.
Marcy Kiesman, CEO of Durango stated, “It is excitingto see the Windfall in the news for such a positive reason, $1.2B is aconsiderable investment by Gold Fields, which speaks to the strengthof the project. Durango is strategically positioned in the Windfallarea and currently holds over 10,000 hectares making it a juniormining company with one of the larger land positions in theregion.”
Trove Property,Québec
Durango owns 100% interest in the Trove claims, whichare surrounded by Osisko Mining Inc. (TSX-OSK), in the Windfall Lakearea between Val d’Or and Chibougamau, Québec. The 1,185-hectareproperty is compelling due to the coincidence of gold found in tillscoinciding with magnetic highs, several Induced Polarization anomaliesand two faults crosscutting the property. The fault systems northand south of the Trove, control gold mineralization elsewhere,indicating the Trove has excellent exploration potential.
East Barry Property,Québec
Durango owns 100% interest in the East Barry claimswhich run parallel to Trove claims. The East Barry block is over 3,900hectares in size and borders the eastern perimeter of Osisko’sholdings and the southern perimeter of Bonterra’s holdings and isless than 4km south of the Gladiator deposit. The East Barry claimshost a gold trend which covers approximately 10km in length and issubparallel to the main Barry Fault held by Osisko Mining. A tillsampling program was conducted by Durango and one of the till samplesreturned forty-two (42) pristine gold grains with reported gold valuesof 2.184 g/t Au. A high count of pristine gold grains indicates thatthe gold has travelled a noticeably short distance from its source.The East Barry block underwent an Induced Polarization survey in 2018which identified a high priority target coincident with the high countof pristine gold grains.
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 gold camp and in theWindfall 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 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.
Copyright (c) 2023 TheNewswire - All rights reserved.