Durango Resources Highlights 2018 Milestones and Plans for Discovery in 2019
TSX VENTURE: DGO
Vancouver, BC / TheNewswire / March 15, 2019 - Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTCQB-ATOXF), (the "Company" or "Durango") announces that over the past year, Durango has achieved numerous milestones which further position the Company for discovery in the coming year.
Early in 2018, Durango began trading on the OTCQB Venture Market in the United States under the symbol ATOXF. The OTCQB quality standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors. Listing on the OTCQB was an early milestone in Durango's long-term strategy to introduce Durango to a wider audience and positively increase shareholder value.
Durango obtained Depository Trust Company (DTC) eligibility for its common shares allowing for book-entry delivery, settlement and depository services in the United States. Durango obtaining the DTC eligibility aligned with its strategy of increasing corporate exposure and potential investors while complimenting the OTCQB Market trading.
Durango increased its landholdings around a newly identified cobalt prospect in Northern Saskatchewan surrounding its Dianna Lake silver and copper property where the latest work program returned grab samples with highest results ranging from 951 g/t to 6,010 g/t Ag (silver) and 736 g/t Co (cobalt) at surface. Grab samples are selective by nature and may not be representative of the mineralization hosted on the property. Additionally, high grade channel samples reaching up to 4.21% Cu (copper) were returned from a 50cm by 5cm channel sample obtained at surface.
Durango secured 100% ownership of the Trove property in the Windfall Lake gold camp of Quebec which were previously under option with BonTerra Resources Inc. The property was 100% returned to Durango with work completed and paid for by BonTerra including; a magnetic airborne survey outlining the faults, a till sampling program outlining base metal anomalies along the fault and the identification of four drill targets. Even though Durango retained its 100% interest in the Trove property, it was issued 3 million shares of BonTerra pursuant to an option agreement with BonTerra. These shares were sold by Durango for over $1M, which gave the Company working capital with no dilution to its shareholders.
In May 2018, Durango applied for a bulk tonnage and drilling permit for its Mayner's Fortune limestone project in northern B.C., located less than 50km away from the proposed LNG project in Kitimat, B.C. In October 2018, an announcement was made in relation to the approval of the $40B LNG Canada Kitimat facility. Discussions with the government and related parties have been ongoing since May 2018 and will continue until final permitting is in place.
Marcy Kiesman, CEO of Durango stated, "While we are excited to see what the Trove Property has to offer below surface, we are compelled at the evidence to date on the Trove claims which are surrounded by Osisko Mining. Durango currently has multiple drill targets in the biggest emerging gold camp in Canada, with road access on highly prospective ground. During 2019, Durango plans to further define and drill its current strategic exploration targets and to identify additional drill targets on its Windfall properties. I would like to thank our loyal shareholders for their continued support, and I look forward to an exciting and busy year ahead for Durango."
The technical contents of this release were approved by George Yordanov, P.Geo., an independent Qualified Person as defined by National Instrument 43-101. The property has not yet been the subject of a National Instrument 43-101 report.
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 gold camp in the Abitibi region of Quebec, 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
This document may contain or refer to forward-looking information based on current expectations and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, including market conditions, 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 its 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.