- lithium bearing pegmatites were discovered on its property that is adjacent to Nemaska Lithium Inc.’s (TSX-NMX) Whabouchi Project
- Anomalous lithium assays were grabbed from surface exposed pegmatites outcrops identified by high definition satellite imagery
Vancouver, BC / September 20, 2016 – Durango Resources Inc. (TSX.V-DGO), (the “Company” or “Durango”) reports that further to its news release of September 13, 2016, lithium bearing pegmatites were discovered on its property that is adjacent to Nemaska Lithium Inc.’s (TSX-NMX) Whabouchi Project.
Durango’s anomalous lithium assays were grabbed from surface exposed pegmatites outcrops identified by high definition satellite imagery. No trenching or blasting was completed on the first phase reconnaissance program which took place in August 2016, as the scope of the program was limited to identifying pegmatites and sampling for lithium values.
Durango has discovered anomalous lithium bearing pegmatites sampled by a simple grab sample. From all the pegmatites discovered and sampled, 25 returned anomalous lithium values ranging from 50 to 320 ppm or 0.032%Li.
Exploration on Nemaksa Lithium’s claims has been ongoing since 1962 and has been worked on by various companies over the years. Nemaska Lithium is the eighth company to work the block of claims and began their work in 2009 by property visits and grab sampling. According to the Nemaska Lithium’s 43-101 report, Canico completed the first work in the area in 1962-63 and drilled 5 holes with the best result being 1.44% Li2O over 83.2m. Forty years later (2002), Inco tested the same pegmatite while exploring for Tantalum with results up to 0.026% Ta over 1 m in a channel sample. The lithium results returned by Inco ranged from 0.14%Li to 1.73% Li over a 1 m channel on the same spodumene-bearing pegmatite.*
Durango’s pegmatites with the lithium results can be easily accessed to trench and blast, or possibly commence drilling, to determine the extent of the pegmatites and to obtain fresh rock samples (not exposed to weathering and erosion) to determine Li content. Cesium levels ranged up to 80.9ppm, tantalum levels up to 77.1ppm and rubidium up to 2140 ppm which is typical of LCT (lithium, cesium tantalum) pegmatites. Pegmatites exploited for lithium are usually of the LCT type.
Marcy Kiesman, CEO of Durango comments: “Durango is highly encouraged by the geological discovery of the lithium-bearing pegmatites so proximal to the Whabouchi project. This discovery has greatly increased our odds of hosting a LCT (Lithium, Cesium, Tantalum) type deposit adjacent to Nemaska Lithium Inc. As such, Durango has asked Donald Theberge to prepare a report with phase two exploration program recommendations which will be announced as soon as it is available.”
The technical contents of this release were approved by Mr. Donald Theberge, PEng., MBA, a qualified person as defined by National Instrument 43-101. The property has not been subject of a National Instrument 43-101 report.
*Nemaska Exploration Inc. NI 43-101 Technical Report – Whabouchi Property, October 2, 2009, by Donald Theberge, Eng., MBA, p.8, p.17
About Durango
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 and Smith Island limestone properties in northwest British Columbia, the Decouverte and Trove gold properties in the Abitibi Region of Quebec, and certain lithium properties near the Whabouchi project, the Buckshot graphite property near the Miller Mine in Quebec, the Dianna Lake silver project in northern Saskatchewan, the Whitney Northwest property near the Lake Shore Gold and Goldcorp joint venture in Ontario, as well as three sets of claims in the Labrador nickel corridor.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com.
Marcy Kiesman, Chief Executive Officer
Telephone: 604.428.2900 or 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 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.
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