Highlights:
Vancouver, BC – TheNewswire – December 18, 2020 – Durango Resources Inc. (TSXV:DGO) (Frankfurt-86A1) (OT C :ATOXF), (the “ Company ” or “ Durango ”) is pleased to announce it has engaged an additional drill company for its exploration program on its wholly owned properties at Windfall Lake, Québec .
East Barry Property
Further to the news release of November 19, 2020, Durango has received drill permits for the East Barry claim block to test high priority targets coincident with high till anomalies of up to 2.19 g/t gold and pristine gold grains in till trend. Now that weather conditions are favourable for preparing access, a drill has been commissioned to test a geophysical anomaly which also coincides with an artificial intelligence (“ AI ”) target. The Company has hired Faubert & Fils from Val d’Or, Québec, to complete several initial exploration drill holes on its East Barry Property.
Trove Property
To date, 1,700m has been drilled in eight holes on the Trove Property at an average depth of 213m. Drilling is still continuing at the Trove Property with the drilling crew working on hole #9. As noted previously, the objective of the drill campaign is to test IP anomalies derived from previous exploration work.
The main lithologies observed in the drill holes are represented by mafic to intermediate volcanics, metasediments and felsic intrusives crosscut by quartz feldspar porphyry (“ QFP ”) and felsic dikes containing disseminated to semi-massive sulphides. Molybdenite, chalcopyrite and silver indicator alterations were also observed. The lithological contacts are marked by chlorite-epidote-carbonate alterations containing centimetric to decimetric mineralized quartz veins. The labs continue to be delayed and backed up due to extremely high quantities of samples they are receiving from multiple exploration companies and a shortage of personnel.
Durango’s high priority targets remain undrilled due the land condition caused by unseasonably warm weather, which has prevented the freezing required for access to the drill hole locations. Durango has 20 high priority holes planned for drilling on the Trove Property, between 200 and 800 meters deep, when the ground is sufficiently frozen to permit drill access.
Marcy Kiesman, CEO of Durango, stated, “The unseasonably warm weather has been challenging for our inaugural drill campaign on the Trove Property. We have completed initial drilling which will help our exploration team understand the local geology and structure in the area. As the weather in the area has recently become seasonably cold, we expect that our high priority targets will be drilled early in January. We are drilling in one of the best regions in Canada to find gold, we are fully financed and will continue to drill into 2021. We anticipate an exciting year ahead for Durango and our shareholders.”
The technical contents of this press release were approved by George Yordanov, professional geologist, an Independent Qualified Person as defined by National Instrument 43-101. The Trove Property has not yet been subject to an NI-43-101 report.
Trove Property, Québec
Durango owns 100% interest in the Trove claims, which are surrounded by Osisko Mining Inc. (TSX-OSK), in the Windfall Lake area between Val d’Or and Chibougamau, Québec. The 1,185 hectare property is compelling due to the coincidence of gold found in tills coinciding with magnetic highs, several Induced Polarization anomalies and two faults crosscutting the property. The fault systems north and south of the Trove, control gold mineralization elsewhere, indicating the Trove has excellent exploration potential. Durango received all the final drill permits for the Trove property in September 2019 and is currently undertaking its inaugural drill program.
East Barry Property, Québec
Durango owns 100% interest in the East Barry claims which run parallel to Trove claims. The East Barry block is over 7,740 hectares in size and borders the eastern perimeter of Osisko’s holdings and the southern perimeter of Bonterra’s holdings and is less than 4km south of the Gladiator deposit. The East Barry claims host a gold trend which covers approximately 10km in length and is subparallel to the main Barry Fault held by Osisko Mining. In 2018, a till sampling program was conducted by Durango and one of the till samples returned forty-two (42) pristine gold grains with reported gold values of 2.184 g/t Au. A high count of pristine gold grains indicates that the gold has travelled a very short distance from its source. The East Barry block underwent an Induced Polarization (“ IP ”) survey in 2018 which identified a high priority target coincident with the high count of pristine gold grains.
About Durango
Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company is positioned for discovery with a 100% interest in a strategically located group of properties in the Windfall Lake gold camp in the Abitibi region of Québec , Canada.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com .
Marcy Kiesman, CEO
Telephone: 604.428.2900 or 604.339.2243
Email: [email protected]
Website: www.durangoresourcesinc.com
Affinity Metals discusses rational for recently acquired Carscallen Extension property. The Carscallen Extension immediately adjoins the Melkior/Kirkland Lake Gold JV Carscallen Project located approximately 6 km west of Pan American Silver’s West Timmins Mine and approximately 25 KM West of Timmins. The company has recently announced the commencement of drilling on trend with the projected extension of the Shenkman-ZamZam gold system which has been the focus of the Melkior/Kirkland Lake Gold JV.
Hello Current and Potential Investors,
The new restrictions in BC came fast and we had to act quickly in regards to our AGM in order to comply with these mandates. For all companies, this year has been challenging to accommodate in person events like conferences and investor meetings. Though we normally see very few investors (if any) attend these meetings, these in person meetings can provide opportunities to allow investors to ask important questions and have management provide answers. Open communication with our shareholders is important to us. Since our question and answer portion of the AGM has been cancelled due to these circumstances we want to make sure we remind all current and potential investors of our contact information so we can answer any questions you may have.
If you have any questions you would like to speak with us on, please Email any questions to [email protected] and we will answer these directly or you can call our office at 604-227-3554.
In addition, we will be compiling the questions asked and the answers into a Q&A that will be distributed to our mailing list.
We are very excited for the coming months. We are awaiting assays from the Regal Drill Program. Unfortunately the labs have a considerably longer turnaround time than normal, but our Regal results should come back to us in late December. Our Drill is currently turning on the Carscallen Extension Property and we are very optimistic for results in 2021!
Thank you, and we look forward to hearing from you,
Rob Edwards
sponsor: Durango owns 100% interest in the Trove claims, in the Windfall Lake area between Val d’Or and Chibougamau, Quebec., which are surrounded by Osisko Mining Inc. The property is compelling due to the coincidence of gold found in tills, coinciding with magnetic highs, several Induced Polarization anomalies and two faults crosscutting the property. Durango is undergoing a final review process for the proposed 3,000m drill program in 2020. Click Here For More Info
Crescat November Research Letter:
Gold & Silver Miners Turn Over a New Leaf:
One of the few areas of the equity market that is meaningfully improving fundamentally is the precious metals mining industry. With gold and silver prices at their current levels, these companies are set to massively expand their margins. This is indeed a new phenomenon for the miners. After 25 years of constantly losing money and regrettably creating a long-standing reputation of being capital destroyers, this industry is becoming one of the most disciplined and profitable businesses in the global economy today. In fact, the median stock among top 50 largest gold and silver miners has had five straight quarters of positive free cash flow for the first time in the last three decades. We believe this is only the beginning. These stocks are becoming new cash flow machines with the strong support of precious metals prices moving higher. Gold and silver mining companies are the real beneficiaries of today’s macro environment with strong balance sheets, high growth, and still incredible undervaluation.
Risk Parity Exhaustion
Among all the demand drivers for gold, we view the lack of competing cheap assets being a major one. For the first time in history, junk bonds and stocks are record overvalued in tandem. We have only seen the exact opposite of this. That was in the Global Financial Crisis when US equities and corporate bonds both hit rock bottom. This time, we are on the other side of the coin. Both sides of the so-called risk parity strategy, stocks and bonds, are at extreme valuations. In a world of near zero to negative yields and frothy valuations across almost every risky asset, it will become imperative for investors to seek out undervalued assets that are true beneficiaries of the current macro environment. In our view, precious metals are poised to become the new core must-have asset for capital allocators. Gold and silver are risk-off alternatives to bonds in the portfolios of prudently minded investors in today’s market. At the same time, attractively priced, high-growth gold and silver mining companies serve to ignite the animal spirits of traders and investors looking for a risk-on alternative to overvalued, low-growth stocks at large.
source: https://www.crescat.net/crescat-november-research-letter/
Affinity Metals discusses rational for recently acquired Carscallen Extension property. The Carscallen Extension immediately adjoins the Melkior/Kirkland Lake Gold JV Carscallen Project located approximately 6 km west of Pan American Silver’s West Timmins Mine and approximately 25 KM West of Timmins. The company has recently announced the commencement of drilling on trend with the projected extension of the Shenkman-ZamZam gold system which has been the focus of the Melkior/Kirkland Lake Gold JV.
Durango Resources Inc.(TSXV:DGO) (Frankfurt-86A1) (OTC:ATOXF), (the “Company” or “Durango“) is pleased to provide an update on the exploration program on its wholly owned Trove Property and East Barry Property at Windfall Lake, Quebec.
Trove Property
To date, 1,047m have been drilled in six holes on the Trove Property at an average depth of 174m. The objective of the drill campaign is to test IP anomalies derived from previous exploration work on the Trove Property. The Company is satisfied that the induced polarization (“IP“) target zones have been intersected as planned on the first six holes. Further, approximately 1,000 samples are pending assays at the labs. The samples were submitted to the labs in batches as they were collected, and are expected to be completed soon.
Unseasonably wet and warm weather in the Windfall area has proved challenging for moving the drill between holes at Trove. The weather provided the exploration team an opportunity to take a short break which also helped to reduce the back log with the labs (currently up to 45 day turn around) before the scheduled resumption of drilling expected on Monday, November 23, 2020. Another six high priority holes are planned on the Trove Property to test coincident geophysical and geochemical anomalies beginning on Monday.
East Barry Property
Durango has recently submitted drill permit applications for the East Barry claim block to test a high priority target coincident with high till anomalies of up to 2.19 g/t gold and pristine gold grains in till trend. As soon as the weather conditions are favourable for access, a drill will be commissioned to East Barry to test a geophysical anomaly which aligns with an artificial intelligence (“AI“) target.
Marcy Kiesman, CEO of Durango, stated, “While the warm weather was helpful for Durango’s exploration crew expanding the ground exploration program onto the East Barry Property this past month, it has created challenges for drilling on the Trove Property. Our team has been successful working on three of the four IP grids and drilling six of the high priority holes as planned on the Trove Property thus far. Our team was also effective in completing surface work on the East Barry Property which provided a compelling case for test drilling in an area with a known AI target. We look forward to continued drilling into the winter months and releasing the assay results as they become available.”
The technical contents of this press release were approved by George Yordanov, professional geologist, an Independent Qualified Person as defined by National Instrument 43-101. The Trove Property has not yet been subject to an NI-43-101 report.
Trove Property, Quebec
Durango owns 100% interest in the Trove claims, which are surrounded by Osisko Mining Inc. (TSX-OSK), in the Windfall Lake area between Val d’Or and Chibougamau, Quebec. The 1,185 hectare property is compelling due to the coincidence of gold found in tills coinciding with magnetic highs, several Induced Polarization anomalies and two faults crosscutting the property. The fault systems north and south of the Trove, control gold mineralization elsewhere, indicating the Trove has excellent exploration potential. Durango received all the final drill permits for the Trove property in September 2019 and is currently undertaking its inaugural drill program.
East Barry Property, Quebec
Durango owns 100% interest in the East Barry claims which run parallel to Trove claims. The East Barry block is over 7,740 hectares in size and borders the eastern perimeter of Osisko’s holdings and the southern perimeter of Bonterra’s holdings and is less than 4km south of the Gladiator deposit. The East Barry claims host a gold trend which covers approximately 10km in length and is subparallel to the main Barry Fault held by Osisko Mining. In 2018, a till sampling program was conducted by Durango and one of the till samples returned forty-two (42) pristine gold grains with reported gold values of 2.184 g/t Au. A high count of pristine gold grains indicates that the gold has travelled a very short distance from its source. The East Barry block underwent an Induced Polarization (“IP“) survey in 2018 which identified a high priority target coincident with the high count of pristine gold grains.
About Durango
Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company is positioned for discovery with a 100% interest in a strategically located group of properties in the Windfall Lake gold camp in the Abitibi region of Quebec, Canada.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com.
Marcy Kiesman, CEO
Telephone: 604.428.2900 or 604.339.2243
Email: [email protected]
Website: www.durangoresourcesinc.com
Vancouver, British Columbia–(Newsfile Corp. – November 19, 2020) – Affinity Metals Corp. (TSXV: AFF) (FSE: 34IA) (“the Corporation”) (“Affinity”) is pleased to announce that it has started its first drill program on the recently acquired Carscallen Extension property. The Carscallen Extension immediately adjoins the Melkior/Kirkland Lake Gold JV Carscallen Project located approximately 6 km west of Pan American Silver’s West Timmins Mine and approximately 25 KM West of Timmins, Ontario.
Affinity’s planned drilling is on trend with the projected extension of the Shenkman-ZamZam gold system which has been the focus of the Melkior/Kirkland Lake Gold JV. Melkior has reported that the Shenkman-ZamZam zone extends for 800 meters and is open to both the northwest and southeast, as well as at depth. High grade intercepts reported by Melkior on the Carscallen include 23.5 g/t Au over 8.0 meters (Melkior news release 28/11/2019) and 25.7 g/t Au over 6.0 meters (Melkior news release 7/5/2020).
Rob Edwards, CEO of Affinity Metals, remarks, “We are very excited to commence our initial drill program on our Carscallen Extension property as we are located on trend and within a kilometer of work being conducted by Kirkland Lake. We have some very promising targets that have been identified by our geophysics. It will be an eventful winter season here at Affinity, as we await assays from our Regal Property and focus on the initial drill program on the Carscallen Extension. We are very optimistic about the value that will be created by our work on these properties this year.”
About Affinity Metals
Affinity is focused on the acquisition, exploration and development of strategic metal deposits within North America. Affinity is following a hybrid approach of combining the advancement of strategic assets along with following a Project Generator model.
Affinity recently completed a drill program on the Regal Project located near Revelstoke, British Columbia and is now awaiting assay results from that work.
The Corporation recently acquired the Carscallen Extension property located immediately adjacent to the Melkior-Kirkland Lake Carscallen project in Ontario as well as the Windfall North property, located adjacent to Osisko’s Windfall project in Quebec. Affinity also holds four additional properties located in Ontario and one additional property located in British Columbia.
On behalf of the Board of Directors
Robert Edwards, CEO and Director of Affinity Metals Corp.
The Company can be contacted at: [email protected]
Information relating to the Company is available at: www.affinity-metals.com