Durango To Focus on Core Propertiesadmin
Vancouver, BC / ACCESSWIRE / March 5, 2014 / Durango Resources Inc. (“Durango“ or the “Company“) announces that it has reviewed its exploration properties and has created a short list of the projects it will maintain and explore in an effort to increase shareholder value. The following properties have been selected:
-Albany Spurs, ON
This property was added to Durango’s portfolio in December 2013. It consists of 300 hectares of prospective ground adjacent to Zenyatta Ventures Inc.’s (TSX.V-ZEN) Albany graphite deposit.
The Buckshot property was staked in September 2013 and title was received in December 2013. It is a 240 hectare property prospective for graphite adjacent to Canada Carbon Inc.’s (TSX.V-CCB) Miller Mine project.
Located in the Abitibi Greenstone belt of Quebec, this property of 3,900 hectares is prospective for gold. Durango has completed wide spaced soil sampling and an airborne survey. The Company is currently reviewing the results of this exploration to plan follow up surveys.
The McGillivray property in BC is prospective for gold, silver, and copper and was instrumental in the IPO of the Company in 2009. Exploration has included soil geochemistry, geological mapping and trenching but has yet to be drilled. Three mineralized zones have been identified with 7 of the 10 rock samples from the breccia being highly anomalous (see news release dated August 3, 2011 on www.sedar.com).
The Trove property of 1500 hectares is located in the Abitibi Greenstone belt of Quebec. It is prospective for gold. Exploration has included geological mapping and sampling, magnetomer and VLF – EM surveys, and detailed humus grid sampling.
Over the next few weeks the Company will continue reviewing the exploration results for these properties with an aim to increase shareholder value by narrowing the focus of its efforts for the upcoming year.
Durango also announces a grant of an aggregate of 260,000 options to its directors, officers and consultants. Each option has an exercise price of $0.15, expiring on March 5, 2017.
Durango is a natural resources company engaged in the acquisition and exploration of mining/exploration properties. The Company has a 100% undivided interest in the McGillivray Property in British Columbia, the Trove and Decouverte gold properties in the Abitibi of Quebec, the Albany Spurs graphite property located 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
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, as it relates to Durango Resources Inc., please refer to the Company’s Prospectus filed on SEDAR.
Neither the 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.
Posted: March 5th, 2014 under ACCESSWIRE.