Vancouver, BC / ACCESSWIRE / August 27, 2014 / Durango Resources Inc. (the "Company" or "Durango") is pleased to report that planning is underway for follow up exploration on recently discovered gold mineralization (NR July 23/14) giving values of 7.6 and 6.24 g/t in chip/channel samples on the Decouverte (Discovery) property in northern Quebec. The gold mineralization is located in a contact zone between granites and mafic volcanic units. The exploration will be focused on expanding the area of gold mineralization where un-sampled quartz veining has been noted over at least 500 m along the contact area. The Decouverte property has been the focus for Durango this summer after an in depth review of its properties this spring by its geological team and external consultants. This compelling property warrants further exploration, having the following attributes:
-Archaean aged rocks (2.7-2.6 Ga)
-Metavolcanic host rocks - mainly mafic volcanics, with interbedded iron formation units
-Location near a major shear zone (property covers 14km of the shear zone)
-Located in a synclinal fold nose in a greenstone belt (Frotet Evans)
-A long lived hydrothermal system with mineralizing events which are essential for gold deposits as shown by extensively altered mafic volcanic units, now sericite (muscovite) schists carrying sulphide mineralization
-Widespread carbonate alteration caused by mineralizing hydrothermal fluids?
-Gold in soils (located in 2013) associated with altered / mineralized mafic volcanic units or down ice of them
-Gold in rocks (located in 2014) associated with the contact between granites and mafic volcanics
-Gold mines, with similar geology in the area (eg Troilus)
The Decouverte claims of 5,600 ha, cover an synclinal fold nose of Archean units, including iron formation, and metavolcanics, mainly mafic, transected by a major NE trending shear zone which can provide a pathway for hydrothermal fluids and good structural traps for associated gold mineralization. The Decouverte shear zone is 5 km wide and the claims cover 14 km of the strike length of the shear zone.
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Marcy Kiesman, CEO, states, "Grass roots gold exploration on the Decouverte property has discovered significant gold values in both soils and rocks associated with quartz veining and altered / mineralized mafic units. The property shares a major fault system and geology that hosts gold and copper mineralization on the Troilus Mine Property, located 35 km to the NE, which has indicated resources of 2.28 million ounces of gold and 160 million pounds of copper. Durango has a very favourable share structure which when coupled with the Decouverte property potential makes this gold exploration play very exciting. Further details on the specifics of our program to further sample the gold occurrence areas to generate drill targets and related financing will be issued in a news release in the near future."
The Troilus Property is located 35 km to the northeast of Decouverte, is on strike and shares similar geology. On August 6, 2014, Copper One Inc. (TSX.V - CUO) announced on www.sedar.com an updated mineral resource estimate for Troilus of total indicated resources of 2.28 million ounces of gold and 160 million pounds of copper (2.65 million oz gold equivalent) and total inferred resources of 850,000 ounces of gold and 48 million pounds of copper (960,000 oz gold equivalent). The Troilus Mine has produced 2 million ounces of gold and 50,000 tonnes of copper with average grades of 1.09 g/t gold and 0.119% copper according to Copper One's website.
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.
The Decouverte 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 with significant iron formation units noted. 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. Chip/channel rock samples gave values of 7.6 g/t Au and 6.24 g/t Au in the recently discovered contact area. The property benefits from favorable infrastructure including road accessibility, being 10 km from Route du Nord, and a power line which bisects the property.
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 base metal 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
Email: [email protected]
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 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.
SOURCE: Durango Resources Inc.