Durango Visits Mayner's Fortune
Vancouver, August 22, 2023 - Durango Resources Inc. (TSXV:DGO) (Frankfurt:86A1) (OTC:ATOXF), (the "Company" or "Durango") announces that further to the news of May 23, 2023, the Company has completed a site visit to Mayner's Fortune limestone property located near Terrace, B.C.
Durango's Mayner's Fortune property is 7.5km south of the Terrace airport with an area of interest consisting of a two-kilometre-thick metasedimentary sequence hosting at least six sub parallel N to NE striking limestone (with minor marble) units. The first limestone unit has historical inferred reserves of 454,000 tonnes grading 96.3% calcium carbonate which is a non-43-101 compliant resource and has not been verified by the Company. Representative samples taken from exposed outcrop have returned calcium carbonate levels of up to 99.9% at surface*.
The limestone area is easily accessible and can be driven to by logging roads and has been mapped and measured at 1.6km long at surface. Previous reports have indicated that limestone units one and three are of high quality and size but due to the ease in accessibility and the grand size Durango is interested to see if the fifth limestone unit is high quality at depth. A small crew visited the site in July to evaluate road access and drill hole locations and has collected grab samples for assay analysis to determine material compatibility.
The Company has been advised that it does not have bulk tonnage production authorization until it has received its License of Occupation from Lands and completed the level of production consultation with First Nations which may be acted upon once the quality and quantity of limestone has been determined from test drilling.
Global Growth of Limestone Market
In 2022, the global limestone market size was valued at USD $72 billion with the expectation to grow at a compound annual growth rate (CAGR) of 7.3% for the next seven years. The use of limestone for water treatment and purification activities is one of the forces driving the demand of limestone in coming years. Global Limestone Market Size, Share & Growth Report, 2030 (grandviewresearch.com)
*The historical reports have not been verified by the Company and therefore should not be relied upon. The technical contents of this press release were approved by Melanie Mackay, P.Geo., professional geologist, an independent 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 located group of properties in the Windfall Lake and Troilus gold camps in the Abitibi region of Québec, 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
Email: durangoresourcesinc@gmail.com
Website: www.durangoresourcesinc.com
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Forward-Looking Statements
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