Durango Reports Historic Potential for High Quality Limestone in Mayner's Fortune Expansion
Vancouver, BC / TheNewswire / August 25, 2015 - Durango Resources Inc. (the "Company" or "Durango") is pleased to provide additional information on the recently acquired claims contiguous to its 100%-owned Mayner's Fortune limestone property near Terrace, B.C., Canada.
As reported in Durango's press release dated August 12, 2015, the Company has staked additional 226 hectares, contiguous to the eastern boundary of its Mayner's Fortune property claim block. This expansion encompasses two additional limestone units, which historic geological studies have reported to be prospective for high-quality limestone material (Haman, 1966). These units are known as Unit 3 and Unit 5, in the east-west sequence of limestone beds.
Unit 3 has been reported to possess a very high economic viability, with a limited mapping campaign suggesting the presence of "pure limestone suitable for quarrying, continuing for a very long extent in a northerly direction, which may indicate the presence of a large amount of material" (Haman, 1966). Unit 5 was reported by the same author to consist of limestone with a relatively high purity, although containing a considerable amount of interbedded chert, and having a true thickness of 650 feet.
Marcy Kiesman, CEO, states, "The Company is excited to have acquired such a prospective asset in a highly strategic area en route to the proposed Kitimat, B.C. LNG (liquefied natural gas) site. The additionally staked limestone units greatly enhance the exploration potential and value of our Mayner's Fortune project. We look forward to the coming months in which we will be working to build greater value in our excellent portfolio of projects."
About the Mayner's Fortune Prospect
The Mayner's Fortune limestone property is located in the Skeena Mining Division approximately 7.5 kilometres south west of Terrace, BC and 4 kilometres west of Lakelse Lake on Lakelse River. The property is located adjacent to the CNR railway line running between Terrace and Kitimat, less than 50 kilometres away from the proposed LNG (liquefied natural gas) site at Kitimat, BC.
The area of interest at Mayner's Fortune consists of a two kilometre thick metasedimentary sequence hosting six sub-parallel N to NE-striking limestone units of variable thickness. Durango's primary focus is on the westernmost unit in the sequence, known as the Mayner's Fortune occurrence (also historically referred to as Unit 1) (Haman, 1966). The occurrence is 30 metres thick lying adjacent to the CNR railway line, striking 040 degrees and dipping 25 degrees southeast. The unit has been mapped along strike for 108 metres with an average height of 30 metres measured from the level of the CNR tracks, and is suspected to continue beneath this level as well (Haman, 1966).
Durango's management and technical team will host an information session on the Mayner's Fortune limestone project in the upcoming weeks. Investors wishing to attend may visit www.durangolng.com to register and sign up for periodic updates. It is expected that the session will be held in Vancouver the week after labour day.
The technical content of this release was approved by Mr. Case Lewis, P.Geo., a Qualified Person as defined by National Instrument 43-101.
About Durango Resources Inc.
Durango is a natural resource company engaged in the acquisition and exploration of mineral properties. In addition to the Mayner's Fortune and Smith Island limestone projects, the Company holds a 100% interest in the Decouverte and Trove gold properties in the Abitibi Region of Quebec, and the Buckshot graphite property near the Miller Graphite mine in Quebec.
For further information on Durango, please refer to SEDAR 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
References
Cree Lake Mining Ltd., Bottoms, K.P. "Report on the Lady Luck, Mayners Fortune, Gabe and Lucky Fortune Mineral Claim Groups." EMPR PF (1967).
Cree Lake Mining Ltd., Haman, P.J. "Geology of the Terrace Area, BC, Lady Luck and Mayners Fortune Mineral Claim Groups." EMPR PF Placer Dome (1966).
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.
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