Indigo Exploration Inc. (TSX VENTURE: IXI) has received assay
results from the six reverse circulation drill holes completed at
the Vein 3 target at its Moule Gold Permit, Burkina Faso, West
Africa. Results from the Zelingpe 1 (Z1) target were released March
29, 2011 and results from the Zelingpe 2 (Z2) target were released
March 8, 2011.
Highlights from Vein 3 drilling include: 29.67 gpt Au over 7
metres and 10.86 gpt Au over 3 metres.
Key points are:
-- Gold mineralization was intersected in four of the 6 holes, including
both holes on section 10 and on section 11. Vein 3 is traceable by this
drilling for over 200 metres and is open in both directions. The
associated soil anomaly is traced for 1500 metres. The drill sections
and plan suggest the two holes on section 12 were collared too far east,
missing the target.
-- This is the first drill campaign ever conducted on this target.
-- The initial 44 hole drill program on Moule was successful in making two
gold discoveries: Zelingpe 1 and Vein 3, which are 5 kilometres apart.
-- Exploration continues on two other targets, V2 and Zelingpe West.
Results are pending.
-- The next phase of the drilling program is expected to commence in May.
Vein 3 drill results are as follows:
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Hole From To Intercept Au Hole Depth
Number (metres) (metres) (metres) (gpt) (metres)
---------------------------------------------------------------------------
MORC-10A 108 114 6 0.80 120
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MORC-10B 70 77 7 29.67 100
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including 74 76 2 85.66
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MORC-11A 67 70 3 10.86 120
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MORC-11B 85 90 5 0.88 100
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The widths and grades reported are drill intercept widths and
may not represent the true width of mineralization. Drill plans and
sections can be found on the current exploration page on the
Company's website at www.indigoexploration.com.
Indigo's President, Tim Henneberry, said: "The discovery of the
Vein 3 and Z1 gold zones is an impressive start for the first
drilling to be conducted on the Moule permit. Both discovery zones
are open and we have additional new drill targets on the Moule
permit. We have secured a drill to start a 15,000 metre RC program
in May."
Quality Control and Assurance
All samples were analyzed by 50 gram fire assay. 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 has been traced in excess of 1500 metres by widely spaced soil
geochemical lines. 500 artisanal miners are currently working a 400
metre long portion of this vein.
The Moule Permit 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 totalling US$410,000 over 3 years. Indigo retains the
right to purchase the entire 1.5% NSR for US$1,800,000.
Kodyel, Lati and Tordo Properties Exploration Update
Kodyel
An airborne magnetic and radiometrics survey was conducted in
February and limited sampling was conducted in March. The Kodyel
permit is on a temporary suspension from the Burkina Faso Ministry
of Mines in connection with the dispute between Burkina Faso and
Niger as to the exact location of the border between the two
countries in the area proximate to the Kodyel property.
Lati
Indigo's exploration crews will be mobilizing to Lati this week
to commence a soil and rock sampling program to define targets for
follow up drilling later in the exploration season.
Tordo
Further exploration on Tordo is planned to bring it to the drill
ready stage.
About Burkina Faso
The Moule, Kodyel, Lati and Tordo 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 results and 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
www.indigoexploration.com
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