Indigo Exploration Inc. (TSX VENTURE:IXI)(FRANKFURT:INE) announces
assays from 16 holes of the 50 hole Phase I reverse circulation
drill program on its Lati gold permit in Burkina Faso, West Africa.
The entire drill program was a first pass prospecting effort, with
broad spaced drill transects (200m-1km apart) exploring a
collective 7 kilometre long anomalous strikelength. The drilling
targeted two large gold soil anomalies described in the Company's
news release dated September 8, 2011, with associated extensive
artisanal workings. The cumulative surface area of artisanal
workings on Lati has gone from 0.58km2 to 2.0km2 in the past 9
months.
The highlights of the drill results reported below pertain to
four drill transects testing the southernmost 1.5 kilometre portion
of the 7 kilometre long anomalous strikelength and have identified
gold mineralization on each line. The interpreted north trending
alignment of the mineralized sections remains open along strike to
the north and south. In addition, three of the four drill transects
suggest the mineralization is still open to the west. This system
is only partly overlapping with a large artisanal workings that
covers an area at least 850 metres by 500 metres, the majority of
which has not been drill tested yet. The granite contact
approximately 200-300 metres to the east of the four transects is
also suspected to be mineralized and has not been drill tested to
date. A plan map showing the drill transects relative to the
geology, soil anomalies and extensive artisanal workings has been
posted on the Company website (www.indigoexploration.com).
Line 9
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From To Interval Au
Hole ID (m) (m) (m) (g/t)
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LTRC-30A 4.0 116.0 112.0 0.51
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including 46.0 116.0 70.0 0.73
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including 88.0 116 28.0 1.28
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including 106 112 6.0 3.16
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LTRC-30 53.0 66.0 13.0 0.34
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Line 10
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From To Interval Au
Hole ID (m) (m) (m) (g/t)
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LTRC-33A 10.0 84.0 74.0 0.19
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including 10.0 17.0 7.0 0.52
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including 68.0 82.0 14.0 0.33
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LTRC-33 49.0 63.0 14.0 0.23
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78.0 92.0 14.0 0.25
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Line 11
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From To Interval Au
Hole ID (m) (m) (m) (g/t)
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LTRC-36A 34.0 36.0 2.0 0.49
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LTRC-36 9.0 120.0 111.0 0.50
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including 13.0 24.0 11.0 3.17
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LTRC-35 73.0 96.0 23.0 0.35
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including 73.0 85.0 12.0 0.48
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Line 12
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From To Interval Au
Hole ID (m) (m) (m) (g/t)
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LTRC-39 20.0 39.0 19.0 0.35
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85.0 106.0 21.0 0.67
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including 97.0 106.0 9.0 1.39
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LTRC-38 86.0 88.0 2.0 1.15
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111.0 119.0 8.0 0.27
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LTRC-37 29.0 44.0 15.0 0.42
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73.0 93.0 20.0 0.33
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LTRC-37A 44.0 47.0 3.0 0.54
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The drill results pertain to 16 holes numbered LTRC-30A to
LTRC-39 on four transects. Each drill transect or line above is
composed of four westward directed inclined holes at -50 degrees
that collectively test a 250 metre wide horizontal distance. The
mineralized sections lie within a mixed package of mildly sheared
and quartz veined diorite, granodiorite and andesite with
disseminated pyrite.
Indigo's Interim President, Keir Reynolds, said: "The continuity
seen over the widely spaced drill lines and the multitude of
targets yet to be tested indicates that this has the potential to
be a large gold system. These results certainly warrant a prompt
follow-up RC drill program aimed at building upon this new
discovery."
The surface area of artisanal workings on Lati where miners have
turned over the top 2 metres of material has grown substantially
since May 2011. Previously the surface area recorded in 2 principal
sites was collectively 0.58 km2. In the past 9 months the surface
area of the artisanal workings on Lati in three principal sites is
now collectively 2.0 km2. It is estimated there are in the order of
3,000 artisanal workers panning the surface on Lati. Artisanal
activity is recovering coarse grained gold, suggesting a proximal
source.
The 100% owned, 246 sq. km Lati permit is located in the Boromo
greenstone belt, approximately 150 km by road from the capital of
Ouagadougou and 45 km north of the Poura Gold Mine. Much of this
large permit remains unexplored. Mineralized quartz veins are
common through the area, ranging from thin stockworks to
metre-scale structures associated with regional scale shearing and
fracturing mainly in mafic volcanic rocks. Several artisanal
workings and prospects lie proximal to the both contacts between
the sheared volcanics and intrusives.
Quality Control and Assurance
All samples were analyzed by 50 gram fire assay. The widths and
grades reported are drill intercept widths and may not represent
the true width of mineralization. Samples are reverse circulation
cuttings collected using a cyclone in 1 metre intervals that are
riffle split at the drill site. The primary laboratory is ALS
Chemex in Ouagadougou, an ISO 17025 certified laboratory. Standard,
blank and duplicate samples were inserted throughout the sample
sequence as quality control checks. Paul Cowley, P.Geo., Interim
CEO and director of Indigo, is the qualified person for the
drilling campaign.
Results are pending for holes LTRC-1 through LTRC-27A and
LTRC-40 to LTRC-42.
About Burkina Faso
The Kodyel, Loto, Lati, and Moule properties lie in the West
African nation of Burkina Faso. Much of West Africa is underlain by
the Birimian Greenstone Belt, one of the most prolific gold
producing areas in the world. Many of the world's major gold
companies are active in West Africa, several with producing mines,
including: IAMGOLD Corporation, AngloGold Ashanti Limited, Randgold
Resources Limited, Gold Fields Limited and Newmont Mining
Corporation. Burkina Faso is politically and economically stable
and relies on farming and mining as it primary sources of revenue.
Burkina Faso saw gold production double from 2008 to 2010 and is
currently the 5th largest gold producing country in Africa.
On Behalf of the Board of Directors,
Keir Reynolds, Interim President
Paul Cowley, P.Geo., Interim CEO and Director of Indigo
Exploration Inc., is the Qualified Person as defined in National
Instrument 43-101, who has reviewed and approved the technical
content of this news release.
Forward-Looking Statements
This press release contains forward-looking statements. All
statements, other than statements of historical fact, constitute
"forward-looking statements" and include any information that
addresses activities, events or developments that the Company
believes, expects or anticipates will or may occur in the future
including the Company's strategy, planned drill program or future
financial or operating performance and other statements that
express management's expectations or estimates of future
performance.
Forward-looking statements are generally identifiable by the use
of the words "may", "will", "should", "continue", "expect",
"anticipate", "estimate", "believe", "intend", "plan" or "project"
or the negative of these words or other variations on these words
or comparable terminology. All such forward-looking information and
statements are based on certain assumptions and analyses made by
the Company's management in light of their experience and
perception of historical trends, current conditions and expected
future developments, as well as other factors management believes
are appropriate in the circumstances. These statements, however,
are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially
different from those expressed, implied by or projected in the
forward-looking information or statements. Important factors that
could cause actual results to differ from these forward-looking
statements include but are not limited to: risks related to the
exploration and potential development of the Company's projects,
risks related to international operations, the actual results of
current exploration activities, conclusions of economic
evaluations, changes in project parameters as plans continue to be
refined, future prices of gold, as well as those factors discussed
in the sections relating to risk factors of the Company set out in
the Company's MD&A filed on SEDAR.
There can be no assurance that any forward-looking statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Accordingly, the reader should not place any undue reliance on
forward-looking information or statements. Except as required by
law, the Company does not intend to revise or update these
forward-looking statements after the date of this document or to
revise them to reflect the occurrence of future unanticipated
events.
Neither the TSX Venture Exchange nor its Regulations Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accept responsibility for the adequacy or
accuracy of this release.
Contacts: Indigo Exploration Inc. Paul Cowley (604) 340-7711
www.indigoexploration.com