Lithium bearing pegmatite pods have been intersected in each drill hole with values up to 748ppm lithium, 3,830ppm rubidium and 436ppm cesium reporting.
Durango Resources Inc. (OTCQB:ATOXF)
VANCOUVER, BC, CANADA, December 12, 2022 /EINPresswire.com/ — Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTCQB -ATOXF), (the â€œCompanyâ€� or â€œDurangoâ€�) announces that further to the news of August 2, 2022, the Company has begun to receive assays for its summer exploration campaign on its wholly owned Discovery Property (the â€œPropertyâ€�) in QuÃ©bec.
The Discovery Property adjoins Sayona Mining Ltd. (ASX-SYA) in the highly prospective James Bay Territory, 100km north of Chibougamau, QuÃ©bec in the Frotet-Evans greenstone belt. On July 6, 2022, Durango announced the completion of a 1,737m exploration drill campaign in an area with known gold anomalies on the Discovery Property. Six exploratory holes were completed ranging from depths of 150m to 402m and the drill core is still undergoing 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 holes assayed despite uneconomic gold values. Lithium bearing pegmatite pods have been intersected in each of the three drill holes assayed and values up to 748ppm lithium, 3,830ppm rubidium and 436ppm cesium have been reported. Elevated copper and zinc were also present in all three holes, reaching up to 2,100ppm copper and up to 4,740ppm zinc. Ten pegmatite dykes were mapped at surface this year in a relatively small area of the property with lengths ranging from a few meters to 55 meters in length. These dykes have not yet been tested at depth.
Marcy Kiesman, CEO of Durango stated, â€œWe have found exciting gold anomalies at surface in quartz veining at the Discovery project which is more interesting now that we also have pegmatite intersections and lithium anomalies in each drillhole. The recent drillhole assays combined with the potential for additional pegmatite dykes on the Discovery property is encouraging. The lithium intersection seems logical since the Discovery Property is proximal to the Moblan lithium deposit which hosts over 12Mt @ 1.4% Li20. The Discovery Property will require further attention from our technical team as the balance of the assays are received.â€�
At the time of this news release, Durango is still waiting on approximately half of its assays on the Discovery Property and further updates and results will be announced on the Discovery Property as they become available.
Melanie Mackay P.Geo, is the qualified person for Durango Resources Inc. and approves the technical content in this news release.
The Discovery Property is located on strike to the southwest of the past producing Troilus gold mine and neighbours Troilus Gold Corp. (TSX-TLG). The Discovery Property is over 6,500ha in size and covers an important geological northeast to southwest regional structure. The Discovery Property has great road access and is accessible year-round via the Route du Nord.
Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company is positioned for discovery with a 100% interest in a strategically located group of properties in the Troilus gold camp and in the Windfall Lake gold camp in the Abitibi region of QuÃ©bec, Canada.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com.
Marcy Kiesman, CEO
Telephone: 604.428.2900 or 604.339.2243
This news release contains â€œforwardâ€�looking information or statementsâ€� within the meaning of applicable securities laws, which may include, without limitation, statements that address the upcoming work programs, and other statements relating to the business, financial and technical prospects of the Company. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements.
Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of minerals, the ability to achieve its goals, the COVID-19 pandemic, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Companyâ€™s views with respect to future events and is subject to risks, uncertainties and assumptions, including those filed under the Companyâ€™s profile on SEDAR at www.sedar.com. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions. The Company does not undertake to update forwardâ€�looking statements or forwardâ€�looking information, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.