Durango Renews Li in Pegmatites Property Adjacent to NMX
Vancouver, BC / TheNewswire / May 23, 2018 - Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTCQB-ATOXF), (the "Company" or "Durango") announces that Durango has renewed its ground adjacent to Nemaska Lithium Inc. (TSX-NMX) Whabouchi Mine. Durango's wholly owned property is located less than 1km east of the BM-1022 Mining Lease issued to Nemaska Lithium Inc.
Donald Theberge P.Eng., MBA., with more than 25 years of experience in exploration and specially in the field of lithium, led a Durango exploration team crew in the summer of 2016 to outline pegmatites on Durango's property and sampled the pegmatite by simple surface grab samples. This first phase mapping and sampling program identified pegmatites and lithium bearing pegmatites.
Results from the field reconnaissance survey conducted in August 2016 on the NMX East property included the discovery of three distinct lithium-bearing intrusions, which have been characterised as LCT (lithium-cesium-tantalum) pegmatites and the generation of clear drilling targets. Anomalous values for Li on the first phase, simple grab sample program ranged from 100 ppm to 320 ppm.
Lithium bearing pegmatites (leucogranite and biotite-bearing pegmatite) are known to occur in late sheared intrusions in Lac des Montagnes volcano-sedimentary belt. Durango's proximity of less than 1km away and being adjacent to the T-NMX Mining Lease is exciting, especially with the lithium bearing pegmatites discovery. Durango has been planning a small drill program and/or a program to re-sample fresh samples of the lithium bearing pegmatites by trenching. The previous lithium pegmatites sampled and discovered in 2016 were outcrops, and near Durango's boundary with Nemaska Lithium.
In the past six months, lithium investment has grown, with Nemaska Lithium announcing on May 22, 2018, a $280 Million bought deal financing coincident with an $80 million private placement. Nemaska Lithium is proceeding with its mine development in mining friendly Quebec and has raised significant funds. Durango is looking to increase its previously reported lithium values of the lithium bearing pegmatites by examining fresh rock below the surface via trenching and/or drilling.
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, 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.