Durango Renews Windfall Lake Gold Properties
Vancouver, BC / TheNewswire / May 4, 2023 – Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTCQB -ATOXF), (the “Company” or “Durango”) congratulates Osisko Mining Inc. (“Osisko”) (TSX-OSK) and a subsidiary of Gold Fields Limited for their recent announcement of a 50/50 joint venture agreement on the Windfall Gold Project in Québec.
On May 2, 2023, Osisko announced the 50/50 joint venture agreement on the Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, QC. Osisko (osiskomining.com) Osisko’s Chairman and Chief Executive Officer, John Burzynski stated “Today is the start of what we believe will prove to be a long and fruitful partnership with Gold Fields at Windfall, and in what we both believe is a significant emerging gold district in Québec.”
Durango recently renewed its Trove Property which is surrounded by Osisko Mining Inc. in the district. Durango also holds claims known as the East Barry Property which border Osisko and Bonterra Resources Inc. (TSX-BTR) in the Windfall Lake region and the East Barry claims are also in the renewal process.
Marcy Kiesman, CEO of Durango stated, “It is exciting to see the Windfall in the news for such a positive reason, $1.2B is a considerable investment by Gold Fields, which speaks to the strength of the project. Durango is strategically positioned in the Windfall area and currently holds over 10,000 hectares making it a junior mining company with one of the larger land positions in the region.”
Trove Property, Québec
Durango owns 100% interest in the Trove claims, which are surrounded by Osisko Mining Inc. (TSX-OSK), in the Windfall Lake area between Val d’Or and Chibougamau, Québec. The 1,185-hectare property is compelling due to the coincidence of gold found in tills coinciding with magnetic highs, several Induced Polarization anomalies and two faults crosscutting the property. The fault systems north and south of the Trove, control gold mineralization elsewhere, indicating the Trove has excellent exploration potential.
East Barry Property, Québec
Durango owns 100% interest in the East Barry claims which run parallel to Trove claims. The East Barry block is over 3,900 hectares in size and borders the eastern perimeter of Osisko’s holdings and the southern perimeter of Bonterra’s holdings and is less than 4km south of the Gladiator deposit. The East Barry claims host a gold trend which covers approximately 10km in length and is subparallel to the main Barry Fault held by Osisko Mining. A till sampling program was conducted by Durango and one of the till samples returned forty-two (42) pristine gold grains with reported gold values of 2.184 g/t Au. A high count of pristine gold grains indicates that the gold has travelled a noticeably short distance from its source. The East Barry block underwent an Induced Polarization survey in 2018 which identified a high priority target coincident with the high count of pristine gold grains.
Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company is positioned for discovery with a 100% interest in a strategically located group of properties in the Troilus gold camp and in the Windfall Lake gold camp in the Abitibi region of Québec, Canada.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com.
This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements that address the upcoming work programs, and other statements relating to the business, financial and technical prospects of the Company. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements.
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