12:27:26 EDT Tue 23 Apr 2024
Enter Symbol
or Name
USA
CA



Durango Resources Inc
Symbol DGO
Shares Issued 9,446,556
Close 2015-02-25 C$ 0.035
Market Cap C$ 330,629
Recent Sedar Documents

Durango working hard to find exploration deals

2015-02-27 11:43 ET - News Release

Ms. Marcy Kiesman reports

DURANGO WORKING TO SECURE KEY PARTNERSHIPS

Durango Resources Inc. has been quietly and diligently working to secure key exploration partnerships, which it hopes to announce in detail in the upcoming weeks.

On March 5, 2014, Durango announced a streamlining of its properties and on May 6, 2014, the focus on its Decouverte (discovery) property in Northern Quebec, which neighbours Virginia Mines Inc.'s Assinica property, and is located approximately 10 kilometres southwest of Beaufield Resources Inc.'s Troilus-Tortigny property and 60 kilometres to the southwest of the former-producing Troilus mine in the Frotet-Evans greenstone belt in Northern Quebec.

Exploration to date has allowed the company to meet many of its key exploration milestones on the Decouverte project. The first milestone was the Dighem electromagnetic/magnetic survey, which defined targets indicative of massive sulphides (electromagnetic anomalies) and iron formations (magnetic anomalies). Follow-up ground surveys and data compilation have defined a major fold with crosscutting structures, an excellent target in greenstone belts. The second milestone was proving that gold existed on the property by locating rock samples grading 7.6 grams per tonne and 6.24 grams per tonne gold (news release of July 23, 2014), a till sample giving a calculated value of 1,020 parts per billion gold, and soil sample values up to 174 parts per billion gold (news releases of Nov. 7, 2014, and May 6, 2014, respectively, via SEDAR). All technical information has previously been reviewed and approved by Peter Dimmell, PGeo, a qualified person as defined in National Instrument 43-101.

Marcy Kiesman, chief executive officer, states: "We are continuing to evaluate all information on Durango's properties and the surrounding areas, and have set further milestones for the next six to 18 months, which will be announced as they progress. This past year has been tough on venture-listed companies; however, Durango has managed to conduct two successful work programs in Northern Quebec on a meagre budget of approximately $140,000 while maintaining the corporate structure, which proves our determination to succeed."

We seek Safe Harbor.

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