Durga writes off exploration costs

Durga Resources (ASE) has written off $1.9 million in deferred exploration expenditures for the fiscal year ended March 31.

More than half of the writeoff expense is attributed to Durga’s gold prospects in the Northwest Territories, which management says may not be economic. The remaining $823,777 relates to mill site claims in Sandy Valley, Nev.

Durga says a recently announced $500,000 exploration and development program on the Chiquita gold property in Sandy Valley is progressing on schedule.