Durango to Undertake Artificial Intelligence Program at Windfall Lake
Vancouver, BC / TheNewswire / July 9, 2020 – Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTCQB -ATOXF), (the “Company” or “Durango”) is pleased to announce that it has engaged Windfall Geotek Inc. (TSXV-WIN) (“Windfall Geotek”) to perform a CARDS analysis using artificial intelligence (“AI”) on its Windfall Lake, Québec land package.
Windfall Geotek is a mining and technology services company and leader in the use of AI and advanced knowledge-extraction techniques in the mining sector since 2005. Windfall Geotek has recently worked with BTU Metals, Quebec Precious Metals, Playfair, Flow Metals, and Puma Exploration.
Windfall Geotek was also engaged by Pacton Gold Inc. (TSXV-PAC) (“Pacton”) earlier this year to develop gold exploration targets on Pacton’s Red Lake Gold Project in Northwestern Ontario. Pacton’s Executive Chairman is Dale Ginn, P. Geo, who is also the Chair of Durango’s Technical Committee.
According to Windfall Geotek’s news release dated July 2, 2020, in the course of identifying high probability gold targets for Pacton, Windfall Geotek also discovered a series of large AI targets in the Red Lake District. The high profile targets are located on properties belonging to Great Bear Resources, BTU Metals, Evolution Mining, Rubicon Metals, Red Lake Gold and others.
CARDS analysis uses AI and data mining algorithms to identify high priority targets by combining all available public and private data sets including geophysical, drill hole and geochemical data. The algorithm is designed to highlight areas of interest that have potential to be geologically similar to other gold deposits and mineralization in the Windfall Lake region. Durango is conducting early stage exploration on its Windfall Lake properties and is utilizing the CARDS system as an additional exploration tool. While data from nearby advanced exploration and producers are being used, no direct comparison to these sites should be inferred. Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Durango’s properties. The following map outlines the Windfall Lake area which will undergo the analysis: https://windfallgeotek.com/wp-content/uploads/2020/07/CARDS_Durango_Resources_Trove_Project_Figure.jpg
The results of the analysis will be used in combination with the known areas of interest determined by favourable IP signatures that coincide with geochemistry anomalies and pristine gold grains in till samples to further validate high priority targets.
Marcy Kiesman, CEO of Durango, stated, “I am pleased to have Michel Fontaine and his team bring their cutting edge technology to narrow our exploration focus by using the CARDS analysis on the 9,500 hectares of our claims at Windfall Lake. Our shareholders have been extremely patient waiting for exploration results this year and we are eager to implement this innovative technology as part of our exploration program at Windfall this year.”
Additional information on the exploration program will be released as it becomes available.
The technical contents of this press release were approved by George Yordanov, professional geologist, an Independent Qualified Person as defined by National Instrument 43-101. The property has not yet been subject to an NI-43-101 report.
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. Durango received all the final drill permits for the Trove property in September 2019 and is undergoing its final reviewing process for the proposed 3,000m drill program.
East Barry, Québec
Durango owns 100% interest in the East Barry claims which run parallel to Trove claims. The East Barry block is over 6,100 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. In 2018 a till sampling program was conducted and one of the till samples returned fourty-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 very 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 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.
Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of minerals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those filed under the Company’s profile on SEDAR at www.sedar.com. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
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