Indigo Exploration Inc. (TSX VENTURE: IXI) has received assay
results from the first 27 holes of the 44 hole preliminary reverse
circulation drilling program at its Moule Permit, Burkina Faso,
West Africa. Highlights from the first 27 holes include: 4.53 gpt
Au over 5 metres (including 10.9 gpt Au over 2 metres) on Drill
Transect Line 1 at the Zelingpe 1 target; and on Zelingpe 2 Target
1.82 gpt Au over 5 metres on Drill Transect Line 4, 4.60 gpt Au
over 3 metres on Drill Transect Line 5, 3.57 gpt Au over 3 metres
on Drill Transect Line 7 and 2.06 gpt Au over 3 metres on Drill
Transect Line 8.
Key points are:
-- Plus one gram intersections over at least one metre were reported in 15
of the 27 holes.
-- This is the first ever drill program at Moule.
-- Program is a scout drill program testing several targets with broad
spaced drill transects; 3 lines at Zelingpe 1, 6 lines at Zelingpe 2 and
3 lines at Vein 3.
-- Program has been successful in discovering several new gold zones
The drilling program consisted of a series of drill transect
lines across the full width of the three targets. Drill plans and
hole by hole details can be found on the Moule current exploration
page on the Company's website at www.indigoexploration.com.
Indigo's President, Tim Henneberry, said: "We are very pleased
that a large percentage of the holes intersected gold
mineralization. The scout drilling program has clearly identified
areas for follow-up drilling with several holes remaining to be
reported. As a result, the Company has arranged to conduct a 15,000
metre drill program commencing in May."
Quality Control and Assurance
All samples were initially 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.,
director of Indigo, is the qualified person for the drilling
campaign.
Moule Permit
The Moule Gold Permit covers 249 square kilometres of
prospective Birimian greenstone geology. Much of West Africa is
underlain by the Birimian Greenstone Belt, one of the most prolific
gold producing areas in the world.
Indigo geologists have identified multiple prospective targets
for bulk tonnage gold systems, based on the artisanal workings
combined with previous sampling programs. To date, there has been
property-wide mapping and sampling of quartz veining and quartz
float. Efforts have been focused on the 7 kilometre by 6 kilometre
Zelingpe area where a soil grid, detailed mapping and local induced
polarization (IP) survey have identified multiple linear targets
untested by drilling. Rock sampling on this grid returned 46 of 480
grab samples with gold values between 1 g/t Au and 16.5 g/t Au. The
December 2010 - January 2011 drilling program tested three of the
multiple targets:
-- Zelingpe 1, a plus 1 kilometre long chargeability anomaly covered by
laterite capping with associated fringe artisanal workings;
-- Zelingpe 2, a 500 metre wide northwest trending corridor, traceable for
at least 1.6 kilometres, where multiple shear zones and parallel
multiple quartz float trends have coincident chargeability, elevated
gold soil anomalies and local artisanal workings.
-- Vein 3, a 400 metre long artisanal working currently hosting 500 miners
that has been traced in excess of 1.5 kilometres by widely spaced soil
geochemistry lines.
The Zelingpe grid has several other targets untested by drilling
to date. In addition, other kilometre long quartz trends on the
property with elevated gold values in soils and rocks and local
artisanal workings are worthy of future attention.
Indigo is earning a 100% interest, subject to a 1.5% Net Smelter
Return (NSR) royalty in the Moule Gold Permit by making cash
payments totaling US$410,000 over 3 years. Indigo retains the right
to purchase the entire 1.5% NSR for US$1,800,000.
About Burkina Faso
The Moule property lies 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,
R.Tim Henneberry, P.Geo., President and CEO
Paul Cowley, P.Geo., 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, exploration results or plans 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. Tim Henneberry (604)
681-3422
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