Agoracom Blog

Durango Releases New Information on its Whitney Northwest Project, Identifies Favourable Geology

Posted by AGORACOM-JC at 10:44 AM on Wednesday, March 9th, 2016

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  • Announced further information on its 100% owned Whitney Northwest Gold Project located north of the Lake Shore Gold Corp (T-LSG) and Goldcorp Inc. (T-G) joint venture Whitney Project
  • In addition to its close proximity to the Whitney Project, on which Lake Shore Gold announced an expansion to its mineralized zone on February 4, 2016, Durango’s Whitney Northwest property is located directly adjacent to the north of the Bell Creek Mine Complex

Vancouver, BC / March 9, 2016 – Durango Resources Inc. (the “Company” or “Durango”) (V-DGO) (OTC-ATOXF) is pleased to announce further information on its 100% owned Whitney Northwest Gold Project located north of the Lake Shore Gold Corp (T-LSG) and Goldcorp Inc. (T-G) joint venture Whitney Project north of the city of Timmins, Ontario, and 9 kilometres ENE of the city of Timmins.

In addition to its close proximity to the Whitney Project, on which Lake Shore Gold announced an expansion to its mineralized zone on February 4, 2016, Durango’s Whitney Northwest property is located directly adjacent to the north of the Bell Creek Mine Complex, which includes the Bell Creek Mine and the Bell Creek Mill. The Whitney Northwest project is located approximately 4 kilometres west-northwest of the Bell Creek Mine resource.

Durango’s Whitney Northwest property covers the projected extensions of several north-south and east-west trending regionally mapped faults. The Porcupine area is well known for hosting mesothermal Archean shear-hosted gold deposits. Durango’s Whitney Northwest Gold Project lies between the gold-bearing Destor-Porcupine Fault to the south (>60 million oz of historic production to the end of 2006) and the gold-bearing regional Pipestone Fault to the north.

The most significant gold mineralization at the nearby Bell Creek Mine occurs in two lithostructural settings: a) near or along an ultramafic-to-mafic contact zones (the Bell Creek and West Zone), and b) within the mafic volcanics sequence (North Zones). (2) Initial work at Durango’s Whitney Northwest is planned to consist of detailed field mapping and attention will be given to identifying geological analogues to nearby deposits such as the Bell Creek Mine and the Lake Shore Gold Whitney Project.

The Bell Creek Mine is an underground mine located northeast of Timmins, Ontario, close to Goldcorp Inc.’s (“Goldcorp’s”) Hoyle Pond Mine. The mine is a former producer that was operated by a number of owners from 1987 to 1994, producing a total of 113,000 ounces of gold (576,000 tons at an average grade of 5.6 grams per tonne). Lake Shore Gold acquired the Bell Creek Mine, and the Bell Creek Mill, in December 2007 from the Porcupine Joint Venture, a joint venture between Goldcorp and Kinross Gold Corporation. (1)

The Bell Creek Mill receives ore from the Lake Shore Gold Bell Creek Mine and Timmins West Mine and currently achieves throughput levels of around 3,500 tonnes per day. During the first nine months of 2015, a total of 952,000 tonnes of ore was processed at Bell Creek Mill at an average grade of 4.6 gpt and an average recovery rate of 96.7%, resulting in 136,200 recovered ounces of production. (1)

The technical contents of this release were approved by Mr. Case Lewis, a vendor of the property and a Qualified Person as defined by National Instrument 43-101. The property has not been the subject of a National Instrument 43-101 report.

About the Whitney Northwest Project

Durango’s Whitney Northwest Gold Project is located within the western part of the Archean-aged Southern Abitibi Greenstone Belt, a supracrustal complex of moderately to highly deformed, usually greenschist facies, volcanic-dominated oceanic assemblages that are approximately 2.7 million years in age. Supracrustal rocks in the Timmins region are assigned as members of seven volcanic and two sedimentary assemblages within the Western Abitibi Subprovince of the Superior Province. Intrusions were emplaced during the Archean and Proterozoic eons.

The Whitney Northwest Gold Project lies between the gold-bearing Destor-Porcupine Fault to the south (>60 million ounces of historic production to the end of 2006) and the gold-bearing regional Pipestone Fault to the north. The property covers the interpreted extension of several north-south and east-west trending faults.

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 the NMX East lithium property near the Whabouchi mine in Quebec, the Buckshot Property near the Miller Mine in Quebec, as well as three sets of claims in the Labrador nickel corridor.

References

  1. (1)Lake Shore Gold Corp website, http://www.lsgold.com/, March 2016.
  2. (2)NI 43-101 Technical Report, Updated Mineral Reserve Estimate for Bell Creek Mine, Hoyle Township, Timmins, Ontario, Canada. Prepared for Lake Shore Gold Corp. Kallio, E. & Vaz N., March 27, 2015.

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, but not limited to timing of mineral resource estimates, 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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