(TheNewswire)
Vancouver, BC / TheNewswire / October 19, 2018 - Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTCQB-ATOXF), (the "Company" or "Durango") reports that further to the news of September 21, 2018, Durango has received a final report on its induced polarization (“IP”) survey on its North and East claim blocks at Windfall Lake.
Geophysical field work was completed by Durango in the Windfall area during the spring and summer of 2018 with the purpose of finding anomalous geophysical targets. The target areas for the IP survey were determined based on the high gold particles discovered in the till samples. A 10km resistivity survey was completed on three grids on a dipole-dipole configuration (a = 25m, n = 1-10), which permits increased penetration below surface (~ 80m) with good resolution. This is important because in some areas of the Urban-Barry camp the overburden can be influential, so this type of configuration is highly recommended and has been used successfully with neighbours in the area.
The IP survey targeted three areas named P1, P2, and P3. A total of 51 individual IP anomalies were grouped as 27 chargeable lineaments and were further defined in P1 and P2 targets. The two targets are in direct contact with Osisko Mining Inc.’s (“Osisko”) (TSX.V-OSK) claims and cross cut by NE-SW fault systems striking towards the reported Windfall Lake main mineralized system.
The chargeability values are mostly controlled by the amount of metallic minerals contained in the ground, including graphite, sulphides and oxides such as magnetite. These may be found as disseminated or in more massive form; therefore, chargeability is used as the main targeting tool for gold mineralization in Windfall Lake. Increased chargeability associated with decreased resistivity are more likely to be caused by semi-massive/stringer mineralization. The east end of Durango’s P2-4 anomaly is located at the border of Osisko’s claims and represent top priority for the geophysics survey report.
Weakly mineralized (sulphides) silicified structures are of interest for gold exploration, especially in the Windfall Lake area since it has proven to be a mining district where gold mineralization is often associated to resistive quartz veins and low sulphides. Durango’s IP survey identified four anomalies (P1-2, P1-8, P1-10 and P2-3) that appear to be related to this type of disseminated mineralization associated with gold.
Marcy Kiesman, CEO of Durango stated, “The location and size of our claims in the area, coupled with the recent positive high priority IP results, position Durango for discovery in the Windfall Lake Gold Camp. Earlier this year, Durango discovered gold in the till immediately adjacent to Osisko Mining (TSX.V-OSK) and this same block of claims host the highest priority IP target to date. Durango’s claims in Windfall Lake area become more compelling each time we work on them. We look forward to completing additional work this year to further advance our properties in the gold camp.”
Six other targets in the P1 and P2 also require additional field work as they were deemed by the IP survey to be of interest for gold exploration.
Follow up work recommended by the report states stripping and sampling to completed as soon as possible to allow for the generation of future drill targets. Short drill holes will be necessary to verify the nature of the anomalies in the most interesting areas and in the areas with significant overburden cover.
Twenty rock samples were submitted to Act Labs for analysis and 15 till samples were submitted to Overburden Drilling Management. Further updates will be released as they become available.
The technical contents of this news release were approved by Mr. George Yordanov, a “qualified person” as defined by National Instrument 43-101.
About Durango
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 situated group of properties totaling over 11,000 hectares in size in the Windfall Lake Gold Camp in the Abitibi Region of Québec. The Windfall Lake gold deposit is located between Val d’Or and Chibougamau in the Abitibi region of Québec, Canada and is currently one of the highest-grade resource stage gold projects in Canada.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com.
George Aizpurua, VP of Communications
First Canadian Capital Corp.
Telephone: 416.742.5600 or 647.500.2389
Email: gaizpurua@firstcanadiancapital.com
Marcy Kiesman, Chief Executive Officer
Telephone: 604.428.2900 or 604.339.2243
Email: durangoresourcesinc@gmail.com
Website: www.durangoresourcesinc.com
Forward-Looking Statements
This document may contain or refer to forward-looking information based on current expectations and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, including market conditions, commencement and completion of exploration, positive exploration results, and raising additional capital for exploration expenditures, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties relating to Durango, please refer to its prospectus filed on its SEDAR profile at www.sedar.com.
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.
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