(TheNewswire)
Vancouver, BC - TheNewswire -February 2, 2022 – Durango Resources Inc. (TSXV:DGO) (Frankfurt:86A1)(OTC:ATOXF), (the “ Company ” or“ Durango ”) announces that it is preparing for a site visit on itswholly owned NMX East Property in Québec .
The Company is planning to visit the NMX East lithiumproperty which neighbours Nemaska Lithium’s Whabouchi Depositlocated approximately 33km east of the town of Nemaska in northern Québec . Durango’s NMXEast property adjoins Nemaska Lithium’s eastern property perimeter,and the Durango claim border is less than 1.5km away from theWhabouchi mining pit.
Durango intends to launch a limited reconnaissanceprogram in the coming month to test for the lithium bearing pegmatiteoccurrences below the surface. In 2016, Nemaska Lithium reported anewly discovered Doris zone extension located to the east (towardsDurango’s property boundary) of the Whabouchi deposit. According toNemaska Lithium, “the Doris zone contains 5 interconnected dykes andhas now been confirmed on 420m of lateral extension and up to amaximum depth of 440m where it joins the main dyke.” Nemaska Lithiumalso stated that it was “prudent to consider the possible impact ofits eastward continuance…” (see news release dated November 28,2016).
To date, Durango has confirmed pegmatitic intrusionsrunning parallel to Nemaska Lithium’s main zone and Doris discoveryand Durango’s’ intrusion tested positive for lithium, cesium andrubidium as reported on September 21, 2016. The Company has engageda crew to conduct backpack drilling to assess the pegmatite outcropsbelow the surface for lithium, cesium, tantalum and rubidium.
Marcy Kiesman, CEO stated, “Lithium-Cesium-Tantalumpegmatite intrusions are known to occur in dyke swarms which can go onfor kilometres which is consistent with what has been seen to date inthis region. Contracting a drill has been difficult this winter so wedecided to begin with shallow backpack drilling to advance theproperty and de-risk the NMX East for future deeper drilling. We haveeasy, priority, at-surface targets to begin the exploration programwith this winter which should give us a clear indication of what wecan expect at depth.”
Recently Kitco reported ( Lithium, the 'white gold' is justgetting started after 300% rally in 2021 - Bank of America | KitcoNews ) that lithium, also known as “whitegold” had a 300% rally in 2021, and that the demand is expected torise for the foreseeable future.
The technical contents of this press release wereapproved by George Yordanov MSc., professional geologist, anindependent qualified person as defined by National Instrument43-101.
About NMX East
The NMX East Property is located adjacent to theNemaska Lithium’s Whabouchi deposit which hosts the largestspodumene deposit in North America. The NMX East Property is less than1.5km away from the pit of the Whabouchi deposit and has lithium,tantalum and cesium bearing pegmatites identified at surface. TheNMX East Property has great road access and is accessible year-roundvia 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 Windfall Lake gold camp in theAbitibi 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 relating to the business, financial and technicalprospects of the Company. All statements in this news release, otherthan statements of historical facts, that address events ordevelopments that the Company expects to occur, are forward-lookingstatements. Although the Company believes the expectations expressedin such forward-looking statements are based on reasonableassumptions, such statements are not guarantees of future performanceand actual results may differ materially from those in theforward-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) 2022 TheNewswire - All rights reserved.