Durango Receives Decouverte Results and Applies for Grant
ACCESS Newswire
Vancouver, BC / ACCESSWIRE / November 7, 2014 / Durango Resources Inc. (the "Company" or "Durango") reports that results have been received for its follow up exploration program carried out on its Decouverte (Discovery) property in northern Quebec. The work included prospecting, geological mapping, rock channel sampling by Durango personnel and overburden (till) sampling under contract by Overburden Drilling Management Limited (ODM) of Ottawa.
Durango contracted ODM to undertake an Orientation Till Sampling Program, to evaluate the property, mainly for gold, with thirty 12 kg, basal till samples taken at 400 to 500 m spacing along four east-west traverses utilizing logging roads approximately 1 km apart, generally perpendicular to the direction of the regional ice flow, which is approximately 200 degrees in the area. Most samples gave background gold values of 1-3 grains however one sample gave 20 reshaped grains, indicating a possible source further to the north on the property. Calculated background gold values were 1-104ppb with the highest calculated value, 1020 ppb, based on three larger grains.
The ground based exploration program focused on:
1)Strongly mineralized quartz-sericite schists, possibly altered/sheared, banded, sulphide facies iron formations which have known strike lengths of up to 1.5 km, remaining open along strike.
2)Gold mineralization in quartz veins and shear zones in mafic volcanics located along the contact of a pegmatite body, which gave values of 7.6 and 6.24 g/t (NR July 23, 2014).
3)Evaluation of newly exposed outcrops in road ditches, mainly along the possible banded iron formation (BIF) zones, by rock channel sampling using a diamond saw.
Results showed significant mineralization - pyrrhotite, pyrite, minor arsenopyrite and chalcopyrite, up to 20% of the rock in places, with associated fuchsite (green mica) in the possible BIF. In addition, a number of narrow shear zones up to 1m wide with narrow, boudinaged, quartz veins and associated pyrite/chalcopyrite and iron carbonate alteration were noted and sampled in the mafic volcanics in the area of the 6 and 7 g/t Au samples along the contact area.
Assays from channel samples taken on the newly exposed outcrops gave no significant gold values, with all values < 30 ppb but gave As values up to 2740 ppm, 1700 and 1160 ppm Cu, and up to 535 ppm Ba. Arsenic and copper are sometimes indicators of gold mineralization.
Application for Grant
Durango would also like to announce that is has applied to participate in a research project with INRS (Institut national de la recherche scientifique) of Quebec under their new grant program which may help to more precisely define the EM anomalies, possibly indicative of massive sulphide mineralization, detected in the DIGHEM surveys completed on the Decouverte property. The research is expected to study electromagnetic and geoelectric high power applied to the exploration of deep polymetallic massive sulphides and spectral discrimination of the different types of electrical chargeability anomalies. Details on the status of the grant application will be released once they are known.
Marcy Kiesman, CEO, states, "While the Company will not continue exploration in the southern portion of the property, based on the results of the recent exploration, potential still exists in the un-evaluated northern portion the probable source area for the anomalous gold in till and soil values. Given the fact that the area lies on strike of the Troilus Mine located to the northeast, and Beaufield's Troilus-Tortigny property located 12 km to the northeast (43-101 released on August 7th, 2014), we continue to be optimistic that significant mineralization exists in the northern portion of the property. The Company also looks forward to the possibility of participating in the research project with INRS so we can continue to expand our exploration efforts on this compelling property."
The technical information in this news release has been reviewed and approved by Peter Dimmell, P.Geo., (NL, ON, QC), a "Qualified Person" as defined in National Instrument 43-101.
About Decouverte
The Decouverte property is in the Frotet-Evans greenstone belt 60 km southwest of the former Troilus Cu-Au mine which produced in excess of 2 million ounces of gold and 50,000 tonnes copper from 1997 to 2010. The property has an area of approximately 5,800 hectares and covers a synclinal fold nose of Archean units transected by a major NE 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 granitic units and significant sedimentary, possible sulphide facies, iron formation units. Strong alteration including silica, sericite and iron carbonate is noted especially in the sedimentary units. Significant soil values included 174 ppb Au, 0.66 ppm Ag, 150 ppm Ni, 200 ppm Cu and 240 ppm Ba. Chip/channel rock samples gave values of 7.6 g/t Au and 6.24 g/t Au hosted in narrow quartz veins mafic volcanics, in the contact area. The property is located 100 km north of Chibougamau, Quebec and benefits from favorable infrastructure including road accessibility, being 10 km from Route du Nord, and a power line which 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 McGillivray base metal property in British Columbia, 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.
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, obtaining any funding in connection with grant applications, future exploration or project development programs 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, as it relates 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.
