Vancouver, BC / TheNewswire / May 15, 2018 - Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTCQB-ATOXF), (the "Company" or "Durango") is in the process of applying for a work permit for its wholly owned Mayner's Fortune Limestone project in northern British Columbia.
The property is located approximately 7.5km southwest of Terrace, BC along the Canadian National Railway route between Terrace and Kitimat and hosts six historically mapped sub parallel limestone units.
Durango has received a preliminary report which includes a recommended drill program for limestone unit #5 based on the lithological defined contacts between the limestone, the intrusive units and dikes to prove up limestone tonnage and consistency.
Historical reports state limestone unit #5 is expected to host the lowest purity of calcium carbonate due to the nearby dikes and intrusive units, however recent visits show that 62% of the samples taken are composed by high purity limestone superior to 96.3%. Limestone unit #5 measures 1.6km long and Durango is interested in determining the calcium carbonate levels at depth to gain an understanding of the potential tonnage of unit #5. Once the drilling/bulk tonnage is completed both volume and quality can be estimated for unit #5. Durango plans to drill limestone units #1 and #3 later as they are known to be high quality and a generous size.
B.C. Premier John Horgan made an announcement in relation to a "final investment decision on LNG Canada's $40B-billion project, which would include a natural gas pipeline built from northeast B.C. to a new terminal in Kitimat as reported in the Financial Post on March 22, 2018 http://business.financialpost.com/commodities/energy/b-c-announces-rebates-conditions-for-liquefied-natural-gas-projects.
Marcy Kiesman, CEO of Durango stated, "Although it is unclear if the Kitimat LNG will proceed, the $40B project still has as pulse, as the Canadian Press reported on April 26, 2018 https://www.castanet.net/news/Business/224860/BC-LNG-contract-awarded that the contract to design and build the proposed $40-billion project was awarded to joint venture contractors Fluor Corp. and JGC Corp. Durango's limestone property is strategically positioned between Terrace and Kitimat with both rail and road access which makes the potential LNG project very exciting."
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 has a 100% interest in the Mayner's Fortune limestone properties in northwest British Columbia, the Decouverte, Trove and Windfall Lake gold properties in the Abitibi Region of Quebec, and certain lithium properties near the Whabouchi mine, the Buckshot graphite property near the Miller Mine in Quebec, the Dianna Lake silver project in northern Saskatchewan, and the Whitney Northwest property near the Lake Shore Gold and Goldcorp joint venture in Ontario.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com.
Marcy Kiesman, Chief Executive Officer
Durango Resources Inc.
Telephone: 604.428.2900 or 604.339.2243
George Aizpurua, VP of Communications
First Canadian Capital Corp.
Telephone: 416.742.5600 or 647.500.2389
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to the development, commencement and completion of future exploration, the advancement of the LNG project, 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 relating 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.