- Acquired a 100% interest in British Columbia industrial mineral claims covering five projects which include bentonite, perlite, and zeolite BC MINFILE occurrences
Vancouver, BC / February 16, 2017 – Durango Resources Inc. (TSX.V-DGO), (the “Company” or “Durango”) is pleased to announce that it has acquired a 100% interest in British Columbia industrial mineral claims covering five projects which include bentonite, perlite, and zeolite BC MINFILE occurrences.
One zeolite project is located adjacent to the recently announced acquisition by Ashburton Ventures (TSX.V-ABR), as outlined in the Ashburton news release dated January 30, 2017. The Durango acquisition overstakes the irregular-shaped mining lease of the Z-1 zeolite quarry/mine near Cache Creek, British Columbia, being acquired by Ashburton and is within approximately 800 metres of the centre of the mining lease.
The second zeolite project is also located in the Cache Creek area, along Hwy 1/Hwy 97. Durango is acquiring 100% of an occurrence of zeolite, known as Perry Ranch, reported in 2011. The acquisition covers an area that is reported as “…approximately 300 metres long and contains several layers to 10 metres depth.” (1)
The third claim block covers the Uncha Lake perlite occurrence (2), and is located near Burns Lake, British Columbia. Past work discusses the occurrences as a perlite unit interbedded within porphyritic rhyolite layers which are reported to be 2.0 – 9.0 metres thick. The perlite is light grey to pale greenish-grey with some perlitic glass occurrences. The perlite generally dips shallowly to the south and is 7.6 to 23.9 metres thick. The report goes on to state that historical reports indicate that in 1955, nineteen trenches were exposed at approximately 45 metre intervals, exposing 2,400 metres of bedrock. Six perlite layers along a zone 850 metres long and 500 metres wide were exposed. (2) (3)
Durango is also acquiring the past-producing Princeton Bentonite occurrence, near Princeton, British Columbia, which was historically reported to have produced 771 tonnes of bentonite between 1926 and 1944. (4)
Three additional titles adjacent to the Dot Mordenite BC MINFILE occurrence near Merritt, British Columbia, which has been reported as a potential zeolite prospect, area also part of this land package. (5) (6)
Further details on these acquisitions will be provided as they become available.
About Zeolite, Perlite, and Bentonite
Zeolites are microporous aluminosilicate minerals commonly used as commercial absorbents and catalysts in the petrochemical industry as well as detergents. They are also widely used as ion-exchange beds in domestic and commercial water purification, softening, and aquaculture applications. Zeolite is also used in growing media, animal feed supplements, composting, and alternative medicine.
Perlite is an amorphous volcanic glass, typically formed by the hydration of obsidian. It has the unusual property of greatly expanding when heated sufficiently. Perlite is primarily used in construction in the production of lightweight plasters, mortars and cement formulations, and in well cements for oil and gas drilling. In horticulture, perlite can be used as a soil amendment or alone as a medium for hydroponics or for starting cuttings.
Bentonite is an absorbent aluminum phyllosilicate clay consisting mostly of montmorillonite. The main uses of bentonite are for drilling mud, binder (e.g. foundry-sand bond, iron ore pelletizer), purifier, absorbent, and as a groundwater barrier. Bentonite is also used in some forms of alternative medicine.
Durango has agreed to pay 1,000,000 common shares to an arm’s length vendor for the 100% acquisition of all projects subject to TSX Venture Exchange approval.
The technical contents of this release were approved by Case Lewis, P.Geo., a Qualified Person as defined by National Instrument 43-101. The property has not yet been the subject of a National Instrument 43-101 report.
References
- (1)ARIS (BC Assessment Report Database) Report 33072
- (2)ARIS (BC Assessment Report Database) Report 20026
- (3)BC MINFILE 093F 026: “UNCHA LAKE”
- (4)BC MINFILE 092HSE151: “PRINCETON BENTONITE”
- (5)BC MINFILE 092ISW108: “DOT MORDENITE”
- (6)ARIS (BC Assessment Report Database) Report 30607
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 mine, 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:Â 888.266.3983
Email: [email protected]
Website:Â 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 the development, 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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