Durango Announces Acquisition of Bentonite, Perlite and Zeolite Projects in BC $DGO.ca
- Acquired a 100% interest in British Columbia industrial mineral claims covering five projects which include bentonite, perlite, and zeolite BC MINFILE occurrences
Vancouver, BC / February 16, 2017 – Durango Resources Inc. (TSX.V-DGO), (the “Company” or “Durango”) is pleased to announce that it has acquired a 100% interest in British Columbia industrial mineral claims covering five projects which include bentonite, perlite, and zeolite BC MINFILE occurrences.
One zeolite project is located adjacent to the recently announced acquisition by Ashburton Ventures (TSX.V-ABR), as outlined in the Ashburton news release dated January 30, 2017. The Durango acquisition overstakes the irregular-shaped mining lease of the Z-1 zeolite quarry/mine near Cache Creek, British Columbia, being acquired by Ashburton and is within approximately 800 metres of the centre of the mining lease.
The second zeolite project is also located in the Cache Creek area, along Hwy 1/Hwy 97. Durango is acquiring 100% of an occurrence of zeolite, known as Perry Ranch, reported in 2011. The acquisition covers an area that is reported as “…approximately 300 metres long and contains several layers to 10 metres depth.” (1)
The third claim block covers the Uncha Lake perlite occurrence (2), and is located near Burns Lake, British Columbia. Past work discusses the occurrences as a perlite unit interbedded within porphyritic rhyolite layers which are reported to be 2.0 – 9.0 metres thick. The perlite is light grey to pale greenish-grey with some perlitic glass occurrences. The perlite generally dips shallowly to the south and is 7.6 to 23.9 metres thick. The report goes on to state that historical reports indicate that in 1955, nineteen trenches were exposed at approximately 45 metre intervals, exposing 2,400 metres of bedrock. Six perlite layers along a zone 850 metres long and 500 metres wide were exposed. (2) (3)
Durango is also acquiring the past-producing Princeton Bentonite occurrence, near Princeton, British Columbia, which was historically reported to have produced 771 tonnes of bentonite between 1926 and 1944. (4)
Three additional titles adjacent to the Dot Mordenite BC MINFILE occurrence near Merritt, British Columbia, which has been reported as a potential zeolite prospect, area also part of this land package. (5) (6)
Further details on these acquisitions will be provided as they become available.
About Zeolite, Perlite, and Bentonite
Zeolites are microporous aluminosilicate minerals commonly used as commercial absorbents and catalysts in the petrochemical industry as well as detergents. They are also widely used as ion-exchange beds in domestic and commercial water purification, softening, and aquaculture applications. Zeolite is also used in growing media, animal feed supplements, composting, and alternative medicine.
Perlite is an amorphous volcanic glass, typically formed by the hydration of obsidian. It has the unusual property of greatly expanding when heated sufficiently. Perlite is primarily used in construction in the production of lightweight plasters, mortars and cement formulations, and in well cements for oil and gas drilling. In horticulture, perlite can be used as a soil amendment or alone as a medium for hydroponics or for starting cuttings.
Bentonite is an absorbent aluminum phyllosilicate clay consisting mostly of montmorillonite. The main uses of bentonite are for drilling mud, binder (e.g. foundry-sand bond, iron ore pelletizer), purifier, absorbent, and as a groundwater barrier. Bentonite is also used in some forms of alternative medicine.
Durango has agreed to pay 1,000,000 common shares to an arm’s length vendor for the 100% acquisition of all projects subject to TSX Venture Exchange approval.
The technical contents of this release were approved by Case Lewis, P.Geo., a Qualified Person as defined by National Instrument 43-101. The property has not yet been the subject of a National Instrument 43-101 report.
References
- (1)ARIS (BC Assessment Report Database) Report 33072
- (2)ARIS (BC Assessment Report Database) Report 20026
- (3)BC MINFILE 093F 026: “UNCHA LAKE”
- (4)BC MINFILE 092HSE151: “PRINCETON BENTONITE”
- (5)BC MINFILE 092ISW108: “DOT MORDENITE”
- (6)ARIS (BC Assessment Report Database) Report 30607
About Durango
Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company has a 100% interest in the Mayner’s Fortune and Smith Island limestone properties in northwest British Columbia, the Decouverte and Trove gold properties in the Abitibi Region of Quebec, and certain lithium properties near the Whabouchi mine, the Buckshot graphite property near the Miller Mine in Quebec, the Dianna Lake silver project in northern Saskatchewan, the Whitney Northwest property near the Lake Shore Gold and Goldcorp joint venture in Ontario, as well as three sets of claims in the Labrador nickel corridor.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com.
Marcy Kiesman, Chief Executive Officer
Telephone: 604.428.2900 or 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 the development, commencement and completion of 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 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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Pacific North West Capital Applies for Share Consolidation and Name Change to New Age Metals Inc. $PFN.ca
- Made application to the TSX Venture Exchange to implement a name change and share consolidation to better reflect the Company’s business plan and its two mineral divisions
Vancouver, British Columbia / January 25, 2017 –Pacific North West Capital Corp. (“PFN”)(TSXV: PFN OTCQB: PAWEF FSE: P7J)announces it has made application to the TSX Venture Exchange (the “Exchange”) to implement a name change and share consolidation to better reflect the Company’s business plan and its two mineral divisions. The Company’s Board of Directors have approved a name change of the Company from Pacific North West Capital to New Age Metals Inc. In addition, due to market conditions, regulatory minimum pricing requirements for financings and other considerations, the Board of Directors have also authorized a consolidation of the Company’s issued and outstanding shares on the basis of three (3) shares of Pacific North West Capital Corp. for one (1) new share of New Age Metals Inc.
The 100,098,596 common shares currently issued and outstanding will be reduced to approximately 33,366,199 post-consolidated common shares. The Company will not be issuing fractional shares as a result of the consolidation. Instead, all fractional shares equal or greater to one-half will be rounded to the next whole share. The Company’s outstanding stock options and share purchase warrants will be adjusted accordingly upon completion of the consolidation.
Upon receipt of regulatory approval, a letter of transmittal will be sent to the registered shareholders providing instructions to surrender the share certificates evidencing their pre-consolidated common shares for replacement certificates of New Age Metals Inc. representing the number of post-consolidated common shares they are entitled to as a result of the consolidation. Until surrendered, each certificate representing the pre-consolidated common shares will be deemed to represent the number of post-consolidated common shares of New Age Metals Inc. that the holder thereof is entitled to as a result of the consolidation.
The Name Change and Consolidation are subject to regulatory approval. The Company anticipates the transaction to close early February, 2017. Until such regulatory approvals have been received, the pre-consolidated shares will continue to trade on the TSX Venture Exchange under the current trading symbol “PFN”.
On behalf of the Board of Directors
“Harry Barr”
Harry G. Barr
Chairman and CEO
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.
Cautionary Note Regarding Forward Looking Statements: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company’s ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.
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Fairmont Resources Closes Final Tranche of Financing $FMR.ca
- Closed the final tranche of its previously announced private placement financing by issuing 2,142,857 units at a priceof $0.07 per NFT Unit for gross proceeds of $150,000
- Fairmont issued a total of 1,425,000 flow-through units
VANCOUVER, BRITISH COLUMBIA–(Jan. 23, 2017) – Fairmont Resources Inc. (“Fairmont”) (TSX VENTURE:FMR) is pleased to announce that is has closed the final tranche of its previously announced private placement financing by issuing 2,142,857 units (the “NFT Units”) at a price of $0.07 per NFT Unit for gross proceeds of $150,000. Under the entire financing, Fairmont issued a total of 1,425,000 flow-through units (the “FT Units”) for gross proceeds of $114,000 and 2,142,857 NFT Units for gross proceeds of $150,000.
Each NFT Unit is comprised of one non-flow-through common share of Fairmont and one common share purchase warrant (a “NFT Warrant”), with each NFT Warrant entitling the holder to purchase one additional common share at $0.15 per share for a period of two years from the date of issue.
The NFT securities issued under the financing will be subject to resale restrictions expiring May 22, 2017. The previously closed FT securities (See release of December 30, 2016) are subject to resale restrictions expiring May 1, 2017.
No finder’s fees were paid on this financing.
The proceeds from the NFT private placement will be used for general working capital.
About Fairmont Resources Inc.
Fairmont Resources Inc. is a rapidly growing industrial mineral and dimensional stone company trading on the Toronto Venture Exchange symbol FMR.
Fairmont’s Quebec properties cover numerous occurrences of high-grade titaniferous magnetite with vanadium, with the Buttercup property having a permit to quarry dense aggregate. Where these occurrences have been tested they have displayed exceptional uniformity with respect to grade. Fairmont also controls three quartz/quartzite properties, with the Forestville property having independent end user testing confirming the suitability of quartzite from Forestville for Ferro Silicon production. Fairmont is also in the process of acquiring the assets of Granitos de Badajoz (GRABASA) in Spain which includes 23 quarries and a 40,000 square metre granite finishing facility that has produced finished granite installed across Europe.
On behalf of the Board of Directors,
Michael A. Dehn
President and CEO, Fairmont Resources Inc.
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Fairmont cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Fairmont’s control. Such factors include, among other things: risks and uncertainties relating to Fairmont’s ability to complete the proposed private placement financing, limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE.
Michael A. Dehn
President and CEO
Fairmont Resources Inc.
647-477-2382
michael@fairmontresources.ca
www.fairmontresources.ca
Doren Quinton
President
QIS Capital
250-377-1182
info@smallcaps.ca
www.smallcaps.ca
Durango to Drill Test NMX East Lithium Project $DGO.ca
- Planning is underway to drill test its lithium bearing pegmatite zone discovered in the summer 2016 exploration program on ground adjacent to Nemaska Lithium’s (T-NMX) Whabouchi Deposit and the newly discovered Doris zone
Vancouver, BC / January 18, 2017 – Durango Resources Inc. (TSX.V-DGO), (the “Company” or “Durango”) announces that planning is underway to drill test its lithium bearing pegmatite zone discovered in the summer 2016 exploration program on ground adjacent to Nemaska Lithium’s (T-NMX) Whabouchi Deposit and the newly discovered Doris zone.
On January 17th, 2017 Nemaska Lithium announced “With the Doris zone discovery in late fall it is prudent to consider the possible impact of its eastward continuance…” In the news release of November 28th, 2016, Nemaska Lithium stated, “the Doris zone, contains 5 interconnected dykes and has now been confirmed on 420m of lateral extension and up to a maximum depth of 440m where it joins the main dyke.” “Doris appears to run parallel to main zone which extends for 1.2km to the northeast.”
Durango’s 100% wholly owned NMX East ground adjoins Nemaska Lithium on the eastern perimeter where Nemaska Lithium’s Doris zone remains open, less than 1.5km from the proposed mining pit. Durango’s geological team confirmed a pegmatitic intrusion running parallel to Nemaska Lithium’s main zone where it tested positive for anomalous Lithium and rubidium as per the news release on September 21, 2016. A map of the zones comparative with Nemaska Lithium Inc. may be viewed on the Durango website.
About Durango
Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company has a 100% interest in the Mayner’s Fortune and Smith Island limestone properties in northwest British Columbia, the Decouverte and Trove gold properties in the Abitibi Region of Quebec, and the NMX East lithium property near the Whabouchi mine and the Buckshot graphite property near the Miller Mine in Quebec, the Whitney Northwest property near the Lake Shore Gold and Goldcorp joint venture in Ontario.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com.
Marcy Kiesman, Chief Executive Officer
Telephone: 604.428.2900 or 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 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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Fairmont Resources Inc. (TSX-V: FMR) Announces Proposed Private Placement Financing of Flow-Through and Non-Flow-Through Units $FMR.ca
- Proposed non-brokered private placement financing of up to 2,142,857 units at a price of $0.07 per NFT Unit
- Gross proceeds of up to $150,000 and a minimum of 1,250,000 and maximum of 1,875,000 units at a price of $0.08 per FT Unit for gross proceeds of up to $150,000
VANCOUVER, BRITISH COLUMBIA–(Dec. 22, 2016) – Fairmont Resources Inc. (“Fairmont”) (TSX VENTURE:FMR) is pleased to announce a proposed non-brokered private placement financing of up to 2,142,857 units (the “NFT Units”) at a price of $0.07 per NFT Unit for gross proceeds of up to $150,000 and a minimum of 1,250,000 and maximum of 1,875,000 units (the “FT Units”) at a price of $0.08 per FT Unit for gross proceeds of up to $150,000.
Each NFT Unit will be comprised of one common share of Fairmont and one common share purchase warrant (a “NFT Warrant”), with each NFT Warrant entitling the holder to purchase one additional common share at $0.15 per share for a period of two years from the date of issue. Each FT Unit will be comprised of one flow-through common share of Fairmont (of which $0.072 of each flow-through common shares will be committed to qualifying expenditures) and one common share purchase warrant (a “FT Warrant”), with each FT Warrant entitling the holder to purchase one additional common share at $0.15 per share for a period of two years from the date of issue.
Soil Survey Results Prompts Claim Block Expansion at Black Rock Desert, Nevada $BFF.ca
- Program continued to show strongly anomalous results with 88 samples collected; 73 of them (83%) containing more than 100 ppm Li
- Together the combined grids contain 258 samples of which 239 samples (93%) had values of greater than 100 ppm Li. Maximum values ranged up to 520 ppm Li
December 15, 2016 / Vancouver, British Columbia- Nevada Energy Metals Inc. “the Company”, TSX-V: BFF (OTCQB: SSMLF) (Frankfurt: A2AFBV) and LiCo Energy Metals Inc. TSX-V: LIC (OTCQB: WCTXF) are pleased to announce that following positive results from an expanded soil sampling program, 71 new placer claims have been added to the Company’s Black Rock Desert Project, Nevada.
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