Indigo Intersects 7 Metres of 29.67 gpt Au on Vein 3 Target at Moule, Burkina Faso
April 11 2011 - 10:35AM
Marketwired Canada
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)
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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
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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
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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.
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