VANCOUVER, British Columbia - (NewMediaWire) - November 12, 2024 - Durango Resources Inc.(TSX.V-DGO) (Frankfurt-86A1) (OTCQB-ATOXF), (the "Company" or "Durango") has expanded its copper claim holdings in the Babine area of British Columbia, completed field work in this area, and continues its strategic review of all assets.
Durango's copper claims are in the Babine copper-gold porphyry district of the north central region of British Columbia. The entirety of the Babine project now consists of 4 claim blocks totaling 4,635 hectares, including 2,303 hectares directly west and adjoining the western claim boundary of American Eagle's NAK project who encountered significant drill intervals of high-grade gold and copper mineralization. Notably, drill hole 23-17 returned 302m @ 1.09% CuEq on the western portion of the NAK property less than 2km from the eastern border of Durango's Babine West Property.
The Babine Copper Projects are in the Omineca Mining Division of British Columbia, approximately 80 kilometres north of Smithers. The Babine Region is one of BC's most prolific porphyry copper gold belts and includes past producing mines such as the Bell and Granisle as well as the Morrison copper gold deposit, American Eagle's NAK project, and Amarc Resources' Duke project. Infrastructure in the region consists of all-season roads, highway 16 and railway. Claims maps of the Company's Babine project relative to neighbors and the area are included below (Figures 1, 2, 3.)
Durango is encouraged by the historical work and copper-gold porphyry discoveries of both American Eagle and Amarc Resources in the area. Historical work on the Company's claims is also encouraging, as can been seen in a brief summary of these areas, also below. Durango recently visited the properties this fall to prospect the claims, confirm historical minfile showings, and collect samples. The Company obtained rock samples from each of the Company's Babine claim areas and will be submitting them for assay.
Meanwhile management is currently reviewing all available data on each of these claims in the interests of devising a modern exploration program and advancing them as soon as possible.
Marcy Kiesman, President of Durango commented, "Management is continuing the execution of our portfolio property review in alignment with our new strategic direction. This review process has already highlighted the growing potential of the Company's claims in the Babine Copper District. While prospecting this fall, some of the historical areas of interest were visited and deemed to be prospective for copper and/or gold. The Company looks forward to reviewing assays from the field, as well as devising a modern exploration strategy to advance the Babine project in the near term."
Includes The Babine North, West, East, and South claim areas
4,635 total hectares
Babine West
2,303 hectares
The Babine West property covers three mineral claims and is bordering the west side of American Eagle's NAK property (TSXV-AE) and borders Amarc Resources' Duke Property.
American Eagle has encountered significant drill intervals of high-grade gold and copper mineralization at NAK. Notably, drill hole 23-17 returned 302m @ 1.09% CuEq on the western portion of the property not far from the eastern border of Durango's Babine West Property.
Amarc's Duke Property covers 722km2 in the "DUKE District", which hosts the DUKE Deposit, which is open to expansion, and includes a series of deposit-scale exploration targets.
The geology of the Babine West claims consists of a granodiorite stock containing phases of quartz monzonite and hornblende biotite feldspar porphyry of the Eocene Babine Intrusion. These cut grey, locally graphitic siltstones of the Middle to Upper Jurassic Ashman Formation. Stratified intermediate composition tuffs and/or greywacke and mudstone with minor silicification and some graded sandstones occur locally. The units are locally and strongly fractured and cemented with quartz and/or pyrite. Thus far pyrite has been identified in six outcrops and chalcopyrite in one.
Babine North
717 hectares
The Babine North property covers the historic Friday Red copper Minfile showing and is located 90 kilometres east of the community of Hazelton. The geology consists of gently dipping volcanic rocks and minor interbedded mudstones of the Lower Jurassic Telkwa Formation (Hazelton Group) which are intruded by a highly magnetic feldspar porphyry dike, possibly related to the Eocene Babine Plutonic Suite. Some minor amounts of chalcopyrite are disseminated in the matrix of amygdaloidal unit of volcanic rocks, at the showing.
Babine East
1,144 hectares
The Babine East Property is situated along the west side of the northwest arm of Takla Lake and covers the historic Minfile Adda showing. The area is underlain by volcanics and minor sediments. A few veins of chalcopyrite of 5-7.6 cm in width and some narrow chalcopyrite seams were observed in andesite (intrusive igneous rock) just above the lakeshore and sections of the chalcopyrite assayed 5.49 g/t silver and 10.6% copper with trace gold (Minister of Mines Annual Report, 1920, page 149).
Babine South
470 hectares
The Babine South Property covers the historic Minfile Bol showing and is located on the north side of Babine Lake. The area of the Bol showing is underlain by Cache Creek Group greenstone. The mineralization occurs in quartz carbonate veins and shears within foliated greenstone. Mineralization consists of argentiferous galena, sphalerite, tetrahedrite, argentite, chalcopyrite, native silver, pyrrhotite and pyrite. Work on the property began as early as the 1920's and about 94 kilograms of silver was produced (based on $1,000 of native silver at $0.33 per ounce) from a trench on the property. In 1991, the "silver pit" located near the east adit was re-opened to confirm the presence of high-grade native silver. A sample from this zone returned 26,000 grams per tonne silver and 0.82 per tonne gold (assessment report 22157). Sampling (Con-10-91) of a mineralized, 3- to 5-centimetre wide, quartz carbonate vein associated with a diorite dike located near the West adit assayed 2,790 grams per tonne silver, whereas a sample (Con-12-91) from a mineralized, 2- to 25-centimetre wide, vein in the West adit yielded 175 grams per tonne silver (Assessment Report 22157).
None of the historical information in the release has been verified yet by the Company and should not be relied upon.
Melanie Mackay, PGeo, EGBC (Engineers and Geoscientists British Columbia) 35256, APEGA (Association of Professional Engineers and Geoscientists of Alberta 305012), is a director and qualified person for Durango and approves the technical content of this news release.
About Durango
Durango is a natural resources company engaged in the acquisition and exploration of mineral properties in Canada. The Company's holdings currently include a 100% interest in a strategically located group of properties in the Babine Copper-Gold Porphyry District, British Columbia, claims near the Troilus Gold Camp, claims in the Nemaska Camp known for lithium and high-grade polymetallic nickel copper PGM, as well as claims in the Windfall Lake Gold Camp of Qubec.
This news release contains "forwardlooking information or statements" 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 forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including those filed under the Company'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 forwardlooking statements or forwardlooking 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.
