- Whitney Northwest Gold Project, located approximately 3.5 kilometres northwest of Tahoe Resources (T-THO and NYSE-TAHO) Bell Creek Mine and 10 kilometres northeast of the City of Timmins, Ontario
- Works included geophysical surveys, consisting of VLF-EM and electromagnetic (EM), 4 diamond drill holes, and 37 reverse circulation holes totaling 2,950 feet (899 metres) drilled across the historic Moneta ground (34 of which were collared within Durango’s claim boundary)
Vancouver, BC / April 15, 2016 – Durango Resources Inc. (the “Company” or “Durango”) is pleased to announce additional information on its 100% owned Whitney Northwest Gold Project, located approximately 3.5 kilometres northwest of Tahoe Resources (T-THO and NYSE-TAHO) Bell Creek Mine and 10 kilometres northeast of the City of Timmins, Ontario.
The Whitney Northwest Project was previously worked by Moneta Porcupine Mines Ltd between 1987 and 1990, with several reports detailing the work carried out by the company filed with the Ontario Assessment File Database (“AFRI”). The works included geophysical surveys, consisting of VLF-EM and electromagnetic (EM), 4 diamond drill holes, and 37 reverse circulation holes totaling 2,950 feet (899 metres) drilled across the historic Moneta ground (34 of which were collared within Durango’s claim boundary). (1) (2) (3) *
VLF-EM and electromagnetic surveys were carried out in 1987, across the historical property area and covering the entirety of the Whitney Northwest property. The surveys identified 7 anomalous zones, 5 of which occur within Durango’s property, and were suspected to be graphitic in nature and/or related to conductive fault zones of several events (1). In addition, “two northwest-trending fault zones are suspected on the Base Line at 40+00 East and 76+00 East … [displacing two conductors] by several hundred feet”. (1) The same report goes on to state that the geophysical surveys may have located the possible extension of the Burrows-Benedict Fault zone. (1) *
The reverse circulation (RC) drilling campaign carried out in 1989 targeted sampling within till and sediment, with additional sampling in bedrock at the terminus of each hole which penetrated an average of 1.5 metres into bedrock. The best three samples assayed 15,000 ppb, 2,400 ppb, and 2,300 ppb Au from till in holes MGM-87-22, -24 and -09 respectively. These samples were also selectively subjected to gold grain analysis in which abraded grains and flakes were identified in hole MGM-87-09 and -24, and abraded grains were observed in hole MGM-87-22. A total of 30 samples in 21 of the 34 RC holes drilled on the Whitney Northwest Property yielded gold values exceeding 100 ppb, with an average of 970 ppb and a median of 255 ppb, all within till and sediment. Bedrock samples did not yield significant gold grades. (3) *
Diamond drilling was carried out in 1987 and 1990 for Moneta Porcupine Mines Inc. Of the four holes drilled on the Whitney Northwest property, Hole MT-90-04 intersected a graphitic, brecciated shear zone of approximately 15 metres apparent thickness and was not sampled for gold mineralization. (2) *
* The reader is cautioned that assays and data cited above are historical in nature and recently acquired. Sampling, analytical and test data underlying the information and opinions contained in the written disclosure have not yet been verified by a qualified person. Further work must be carried out in order to verify the information contained in the historic reports.
President and Director of Durango, Marcy Kiesman, stated, “We are pleased with the results of the past work completed on the Whitney NW property which now gives Durango a solid starting point for future exploration. In light of the results, we have prioritized following up on potential fault zones on the property as indicated by the previous drilling and geophysics.”
The technical contents of this release were approved by Mr. Case Lewis, P.Geo., a Qualified Person as defined by National Instrument 43-101 and a vendor of the property. The property has not yet been the subject of a National Instrument 43-101 report.
References:
- (1)”Magnetic and Electromagnetic Surveys for Moneta Porcupine Mines Incorporated on the Murphy Township Project, Little Goose Lake” K. A. Jensen, Consulting Geologist/Geophysicist., AFRI Report 42A11SE0514, April 1987.
- (2)”Diamond Drilling” Moneta Porcupine Mines Inc., AFRI Report 42A11SE0506, April 1987.
- (3)”Report on Reverse Circulation Overburden, MGM-87 Project – Goose Lake Claims, Murphy Twp, Timmins Ont” F.P Yungwirth, Moneta Porcupine Mines Inc. AFRI Report 42A11SE0509, April 1989.
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, 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, 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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