Durango Signs Right of First Refusal on Historic Lithium Surface Hot Spring
Vancouver, BC / TheNewswire / January 19, 2016 - Durango Resources Inc. (the "Company" or "Durango") announces that it has entered into a right of first refusal on a hot spring property located in northern British Columbia with historic lithium values.
The Force Awakens property covers a BC minfile occurrence #103I 004, which is a lithium rich hot spring listed in the Geological Survey of Canada in paper 73-1 and reports, "a high content of lithium".
The Force Awakens project is adjacent to the highway, southwest of Terrace, BC and is in very close proximity to the previously announced acquisition, Mayner's Fortune Property. The property location is along the highway between Terrace and Kitimat; Kitimat being the location of the recently approved 40 year LNG export licence of LNG Canada, so ample infrastructure exists in the area.
Marcy Kiesman, Durango's CEO stated, "The project is in an area that the Company is very familiar with and allows for easy low cost sampling and exploration so Durango is looking very closely at this lithium property."
Lithium is used in several capacities, including in electric vehicle batteries such as TESLA (Nasdaq symbol TLSA). A recent report issued by Goldman Sachs dated December 2, 2015 called, "Lithium the new gasoline" http://www.goldmansachs.com/our-thinking/pages/macroeconomic-insights-folder/what-if-i-told-you/report.pdf.
An article on www.mashable.com by Adario Strange dated January 11, 2016, titled "Tesla's Elon Musk claims and Apple Car is in the works" outlines Musk's belief that APPLE Inc. (Nasdaq symbol AAPL) is working on developing and electric Apple car.
About the Mayner's Fortune Prospect
The Mayner's Fortune limestone property is located in the Skeena Mining Division approximately 7.5 kilometres south west of Terrace, BC and 4 kilometres west of Lakelse Lake on Lakelse River. The property is located adjacent to the CNR railway line running between Terrace and Kitimat, less than 50 kilometres away from the proposed LNG (liquefied natural gas) site at Kitimat, BC.
About Durango Resources Inc.
Durango is a natural resource company engaged in the acquisition and exploration of mineral properties. In addition to the Mayner's Fortune and Smith Island limestone projects, the Company holds a 100% interest in the Decouverte and Trove gold properties in the Abitibi Region of Quebec, and the Buckshot graphite property near the Miller Graphite mine in Quebec.
For further information on Durango, please refer to SEDAR at www.sedar.com.
Marcy Kiesman, Chief Executive Officer
Telephone: 604.339.2243
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, future exploration or project development programs, execution of a definitive agreement, raising of funds, obtaining regulatory approvals 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 relating 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.
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