Durango Receives Grant For Geophysical Exploration On Decouverte Property
VANCOUVER, BC / ACCESSWIRE / June 1, 2015 / Durango Resources Inc. (the "Company" or "Durango") is pleased to announce that it has received a grant from the Institut National de la Recherche Scientifique ("INRS") of Quebec to conduct deep geophysical surveys on Durango's wholly owned Decouverte (Discovery) property. The application for the grant was previously announced on November 5, 2014 via www.sedar.com.
The Decouverte property is located in northern Quebec approximately 100 km to the northwest of the town of Chibougamau, 10km southwest of Beaufield Resources Inc.'s Troilus-Tortigny Property (TSX.V-BFD) and 60 km to the southwest of the former-producing Troilus mine in the Frotet-Evans greenstone belt in northern Quebec.
Durango believes it is beneficial for the INRS to more precisely define some of the electromagnetic (EM) anomalies detected in a previous airborne survey, which are possibly indicative of massive sulphide mineralization. The INRS research is expected to study the host rock and possible mineralisation, utilizing petrophysics (the study of rock samples in the lab) measuring their density, resistivity, chargeability and magnetic susceptibility. This data will be utilized in the interpretation of the geophysical data. In addition complex resistivity or spectral IP will be used for spectral discrimination of the different types of electrical chargeability anomalies to aid in evaluating the property.
Marcy Kiesman, CEO, states, "The Decouverte property remains a compelling project for Durango due to its volcano-sedimentary environment and structural geology which increases the potential for a significant gold and /or VMS deposit. Partnering with the INRS focuses exploration efforts and will define, more precisely, drill targets on the two extensive, linear, EM anomalies running through the property, both approximately 4km by 2km in size. Mineralization including pyrrhotite, pyrite, minor arsenopyrite and chalcopyrite has been noted in outcrop and values of 7.6 and 6.24 g/t gold have been found in quartz veins along a contact between granitic and mafic volcanic units."
The technical information in this news release has been reviewed and approved by Peter Dimmell, FGC, P.Geo (NL, ON, SK, QC (SA #314), a qualified person as defined in National Instrument 43-101.
About Decouverte
The Decouverte property is in the Frotet-Evans greenstone belt approximately 60 kilometres southwest of the former Troilus copper-gold mine, which produced over two million ounces Au and 50,000 tonnes Cu from 1997 to 2010. The property covers approximately 5,900 hectares covering a synclinal fold nose of Archean units transected by a major northeast-trending shear zone. Durango carried out a helicopter-borne DIGHEM EM/magnetic airborne geophysical survey on the property in 2011 (NR Nov. 24, 2011) and soil geochemistry and prospecting in 2013 targeting areas identified in the airborne survey. The geological setting is mainly mafic volcanics (basalts/andesites), in places strongly sheared, cut by pegmatitic granitic units, and significant sedimentary, oxide and sulphide facies iron formation units. Alteration including silica, sericite and iron carbonate is noted. Significant soil values included 174 ppb gold, 0.66 ppm silver, 150 ppm nickel, 200 ppm copper and 240 ppm barium. Chip/channel rock samples gave values of 7.6 g/t gold and 6.24 g/t gold hosted in narrow quartz veins in mafic volcanics, in the contact area with the pegmatitic granite. The property is located 100 kilometres north of Chibougamau, Quebec and benefits from favourable infrastructure, including road accessibility, being 10 kilometres from Route du Nord, and a power line that bisects the property.
About Durango
Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company has a 100% interest in the Decouverte and Trove gold properties in the Abitibi Region of Quebec, the Robert Creek uranium property in north western Saskatchewan, the Albany Spurs graphite property in northeastern Ontario and the Buckshot graphite property near the Miller Graphite mine in Quebec.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com.
Marcy Kiesman, Chief Executive Officer
Telephone: 604.428.2900
Facsimile: 888.266.3983
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, including, but not limited to timing of mineral resource estimates, future exploration or project development programs, execution of a definitive agreement, raising of funds, obtaining regulatory approvals and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, 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 the Company's 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.
SOURCE: Durango Resources Inc.