Durango Discovers Significant Gold Mineralization At Decouverte


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TSX.V:DGO
07/23/2014 [ACCESSWIRE]

Vancouver, BC / ACCESSWIRE / July 23, 2014 / Durango Resources Inc. (the "Company" or "Durango") is pleased to report the assay / analytical results for its recently completed exploration program on the Decouverte (Discovery) property in northern Quebec. The results show gold values associated with quartz veining along the contact zone between a pegmatitic granite and mafic volcanics in the northeastern portion of the 5,600 ha property.

In June, Durango carried out follow up exploration from 2012 soil samples and also conducted prospecting in the unexplored Target 2 area located in the northeast part of the property where a cluster of medium intensity anomalies 4km long and 2km wide are located. The program included geological reconnaissance, grab and chip/channel sampling of outcrops and float, soil geochemistry on alteration zones and geochemical and geophysical anomalies which had been defined by Durango from 2011 to 2013.

The new Target 2 area not previously noted or sampled lies along the contact between an intrusive, pegmatitic, granite body and the host mafic volcanics (basalts) lies along a recently constructed woods road, was evaluated with five quartz vein (QV) samples and a number of both basalt and pegmatite samples from outcrop. Two of the QV samples, approximately 40 metres apart, gave values of 7.6 g/T and 6.24 g/T Au. The first sample was a channel sample over 1m from a 5 cm quartz vein in the basalts consisting of both quartz and basalt. The second sample was a channel sample over 0.6 m of grey quartz up to 6 cm wide, crosscutting the contact between the basalt and granite. No sulphides were seen although limonite (Fe oxide) was noted in both samples. Both samples gave anomalous values in Te (11.7, 59.6 ppm) and Bi (384, 371 ppm) possibly indicating that the gold may be associated with bismuth tellurides. The other samples from the area, two from the host rocks and the other from an area of quartz veining in the granites, gave background to weakly anomalous (up to 26 ppb Au in the basalt) values. Widespread quartz veining was noted extending for over 100 metres in each direction along the contact, although these veins were not sampled. Further exploration is required to evaluate this new area of gold mineralization which is readily accessible on existing roads.

Chip / channel rock samples, both outcrop and float of gossanized (Fe oxide), mineralized / altered zones which carried strong pyrite and minor arsenopyrite (NR - June 26, 2014) in the central part of the property, gave one anomalous value in gold of 119 ppb (in a float boulder) with some base metal enrichment in the zones: highest - Cu - 387 ppm with a number > 100 ppm; Zn - 1560 ppm (with Cd 4.7 ppm); Pb - 190 ppm (3 >100 ppm) with no correlation noted between Cu,Pb,Zn. Three tungsten (W) values > 100 ppm, were noted with two associated with quartz veining (459, 5180 ppm) and one (134 ppm) associated with basalt. Soils, which were taken in one small area in the southwest part of the claims, gave no significant values in base or precious metals (high of 6 ppb Au) although Ba values may be somewhat elevated (> 500 ppm).

Marcy Kiesman, CEO, stated, "I am excited by the gold values along the Hamburger Hill contact zone. This new gold discovery is located in an area not previously sampled along a woods road, making it easily accessible for further exploration. The discovery lies in Fugro airborne magnetic anomaly Target Area 2 with the contact paralleling the road for over two kilometres. Un-sampled quartz veining was noted along the contact in the area of the discovery and 500 m further along the road. Durango personnel will be returning to Decouverte to sample all veins along the contact zone to further evaluate this new gold discovery."

The technical information in this news release has been reviewed and approved by Peter Dimmell, P.Geo., (NL, ON, QC), a "Qualified Person" as defined in National Instrument 43-101.

About Decouverte

The Decouverte (Discovery) property is located 100km north of Chibougamau, Quebec in the Frotet - Evans greenstone belt. Durango carried out a helicopter borne DIGHEM EM/magnetic airborne geophysical survey on the property in 2011 (NR Nov 24, 2011) and soil geochemistry and prospecting covered target areas identified in the airborne survey in 2013.

The geological setting is mainly mafic volcanics (basalts/andesites) cut by granitic units. Strong alteration including silicification and iron carbonate is noted. Significant soil values included 174 ppb Au, 0.66 ppm Ag, 150 ppm Ni, 200 ppm Cu and 240 ppm Ba. 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: durangoresourcesinc@gmail.com

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.  

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