Vancouver, BC / ACCESSWIRE / May 6, 2014 / Durango Resources Inc. (the "Company" or "Durango") announces that, further to its news release dated March 5, 2014, the Company has defined, through an in depth review of its property portfolio, priority exploration targets on the Decouverte Property in northern Quebec, which is located about 100 kilometres northwest of Chibougamau near Lac Pasquale.
The Decouverte mineralized target area is located to the east of Lac Pasquale and consists of two significant aero-magnetic anomalies, with some electromagnetic coincidence possibly associated with linear structural features, in the Frotet-Evans greenstone belt. Target 1 consists of a cluster of three east-west trending anomalies with a strike length of four kilometres. A second airborne magnetic anomaly (Target 2), which was staked recently and has not been explored previously by Durango, consists of a cluster of medium intensity anomalies 4 kilometres long and 2 kilometres wide, located in the northeast part of the property (see map below).
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Target 1 shows good correlation between mapped metasedimentary units, positive magnetic anomalies, which are possibly related to mafic to ultramafic geological units, a linear zone of low resistivity, and gold in soil anomalies. In 2013 eighty (80) plus outcrops were mapped on the property with sixty (60) described as amphibolites and basalt, both mafic units with strong iron content, which could provide good hosts for shear related gold mineralization. Widespread carbonate alteration and bleaching (alteration) of the host rocks has also been noted. In the central part of the property (to the E and ESE of Pasquale Lake) white to pink pegmatititic granite and metasedimentary units are more abundant.
Geochemical analyses of rock samples with weak alteration showed weak gold (max 22 ppb), and anomalous nickel (1020 ppm), arsenic (1360 ppm) and copper (321 ppm) values. The anomalous zones are associated with NW trending structures similar to many deposits in the Canadian Shield, which crosscut a fold hinge and a N-S trending fault system. Three hundred and forty three (343) soil samples were taken at 100 metre spacings in 2013 across target areas identified in a 2011 Fugro airborne magnetic / electromagnetic survey. The most significant soil values were 174 ppb Au, 0.66 ppm Ag, 150 ppm Ni, 200 ppm Cu and 240 ppm Ba. No follow up has evaluated the soil results. The nickel in soils may indicate metavolcanic to ultramafic units. The gold, silver, copper and zinc values are found in the metavolcanics near the contact with metasedimentary units. Carbonate alteration is widely dispersed in the main target areas.
Durango is planning a follow up exploration program in 2014 with the focus on coincident magnetic and geochemical anomalies, especially gold. Targets associated with magnetic lows, possibly representing sheared alteration zones, will be examined. Durango plans to commence exploration as soon as weather and snow conditions allow access to the property.
Marcy Kiesman, CEO, stated, "The Decouverte property caught my interest late in 2011 when we were informed that the geological units as defined by the airborne survey did not correspond to the geological maps for the area. The geological / structural environment, as defined by the geophysical survey, shows characteristics of shear hosted gold zones elsewhere in the Abitibi and as such is a compelling exploration target. Our team of geologists and prospectors are working diligently with management to finalize the details of an exploration program on the property, including an analysis of funding requirements to conduct the program."
Pictures and maps for the Decouverte property can be viewed on Durango's website at www.durangoresourcesinc.com. All technical information in this press release has been reviewed by Peter Dimmell, P.Geo., (NL, ON, QC) a "Qualified Person" as defined in National Instrument 43-101.
About Decouverte
The Decouverte (Discovery) property of 3900 ha, is located 100km north of Chibougamau in the Frotet - Evans greenstone belt. Durango carried out a 439 line kilometer helicopter borne Fugro airborne magnetic / electromagnetic geophysical survey on the property in 2011 (NR Nov 24, 2011). The property benefits from very favorable infrastructure including road accessibility (within 10km of Route du Nord and a myriad of logging roads) and a power line which bisects the property.
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 Decouverte and Trove gold properties in the Abitibi of Quebec, the McGillivray property in British Columbia, the Albany Spurs graphite property in northeastern Ontario and the Buckshot graphite property near the Miller Graphite mine in Quebec.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com.
Marcy Kiesman, Chief Executive Officer
Telephone: 604.428.2900
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, obtaining financing, 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, as it relates to Durango, please refer to the Company's Prospectus filed with SEDAR.
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.
SOURCE: Durango Resources Inc.