- Entered into a right of first refusal (ROFR) on a lithium prospect located near Duval, Quebec
- Anomalous grab sample yielding 6,200ppm Li2O from pegmatite was reported from the Duval Property in 1988
Vancouver, BC / January 22, 2016 – Durango Resources Inc. (the “Company” or “Durango”) announces that it has entered into a right of first refusal (ROFR) on a lithium prospect located near Duval, Quebec.
The Duval Property is located in La Motte Township, Quebec, adjacent to the historic lithium-producing La Corne Township. An anomalous grab sample yielding 6,200ppm Li2O from pegmatite was reported from the Duval Property in 1988 (SIGEOM Sample 1988008860).
The company will release further information regarding the Duval Property as it reviews the data for the project.
Lithium is used in several capacities, including in electric vehicle batteries such as TESLA (Nasdaq symbol TLSA). A recent report issued by Goldman Sachs dated December 2, 2015 called, “Lithium the new gasoline” http://www.goldmansachs.com/our-thinking/pages/macroeconomic-insights-folder/what-if-i-told-you/report.pdf.
An article on www.mashable.com by Adario Strange dated January 11, 2016, titled “Tesla’s Elon Musk claims and Apple Car is in the works” outlines Musk’s belief that APPLE Inc. (Nasdaq symbol AAPL) is working on developing and electric Apple car.
About Durango Resources Inc.
Durango is a natural resource company engaged in the acquisition and exploration of mineral properties. In addition to the Mayner’s Fortune and Smith Island limestone projects, the Company holds a 100% interest in the Decouverte and Trove gold properties in the Abitibi Region of Quebec, and the Buckshot graphite property near the Miller Graphite mine in Quebec.
The technical contents of this release were approved by Mr. Case Lewis, P.Geo., a Qualified Person as defined by National Instrument 43-101. The property has not been the subject of a National Instrument 43-101 report.
For further information on Durango, please refer to SEDAR at www.sedar.com.
Marcy Kiesman, Chief Executive Officer
Telephone: 604.339.2243
Facsimile: 888.266.3983
Email: [email protected]
Website: www.durangoresourcesinc.com
Forward-Looking Statements
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs, execution of a definitive agreement, raising of funds, obtaining regulatory approvals 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.
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