Indigo Reports Expanding Artisanal Site at Lati
March 22 2011 - 8:00AM
Marketwired
Indigo Exploration Inc. (TSX VENTURE: IXI) reports that it will
shortly commence exploration at its 100 percent owned Lati gold
permit, Burkina Faso, West Africa. A recent property examination
found a doubling of the size of the artisanal workings and number
of local miners.
Key points are:
-- Artisanal workings have doubled in size from 500 metres by 50 - 200
metres to 1200 metres by 50 - 500 metres.
-- Artisanal miners are working over and extracting particulate gold from
the top 1 to 3 metres of surface material over the majority of this
area.
-- Historic drilling by the United Nations in the area included an
intersection of 2.5 gpt Au over 12 metres.
-- Recent Indigo grab sampling within the expanding artisanal site returned
values to 11 gpt Au.
The 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. The prospective east side
of the Lati permit is underlain by a north-northeast trending 1500
metre wide band of bimodal volcanics surrounded by felsic
intrusives. Mineralized quartz veins are common through this 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 along
the sheared contacts between the volcanics and intrusives including
the rapidly expanding artisanal site.
This week Indigo's geological team will commence a detailed
sampling grid for soil and quartz float over a 5,000 metre long by
1,500 metre wide area over the prospective contact, in advance of
follow up trenching and reverse circulation drilling expected later
this spring.
Indigo's President, Tim Henneberry, said: "The continually
expanding artisanal site at Lati warrants a reverse circulation
drilling program. Drilling will commence, following the sampling
surveys to refine targets. Lati along with Moule and Kodyel, gives
Indigo three excellent gold projects with multiple targets in
Burkina Faso."
About Burkina Faso
The Kodyel, Loto 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 its 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 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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