Indigo Exploration Inc. (TSX VENTURE: IXI)(FRANKFURT: INE) has
commenced Phase II follow up core drilling program at its Moule
gold exploration permit in Burkina Faso, West Africa.
Key points are:
-- The program will follow up on the Phase I drill intercepts of 29.67 gpt
Au over 7 metres and 10.86 gpt Au over 3 metres at Vein 3.
-- The program will also follow up on recently received soil results to
drill test Vein 2 for the first time.
Grid soil sampling at Vein 3 was recently completed over an area
2000 metres long and 500 metres wide, sampled at 25 metre intervals
along 50 metre spaced lines. Results from the soil survey define
several sub-parallel anomalous gold trends within the broad Vein 3
structure. One of the anomalous trends corresponds to the Phase I
drill intercepts of 29.67 gpt Au over 7 metres and 10.86 gpt Au
over 3 metres. A number of these anomalous trends will be tested in
this phase of the drilling program, with the aim of tracing the
Vein 3 structure along strike.
Grid soil sampling at Vein 2 was recently completed over an area
1000 metres long by 450 metres wide, sampled at 25 metre intervals
along 50 metre spaced lines. Results from the soil survey define a
long northwest trending gold anomaly extending the full length of
the grid and ranging from 50 to 240 metres wide. The anomalous
trend will be tested in multiple locations throughout its length in
this phase of the drilling program, with the aim of tracing the
Vein 2 structure along strike. Vein 2 is a parallel zone to Vein 3
and lies 4 kilometres to the northeast.
Assay results have also been received for the Zelingpe 1 trench
that tested the lower western slope below the Zelingpe 1 target. A
total length of 500 metres was excavated. Assay results were
generally below 100 ppb Au, suggesting the source of the gold
recovered by the artisanal miners and elevated gold soil
geochemistry is the Zelingpe 1 target under the laterite
plateau.
Indigo's President, Tim Henneberry, said: "After completing a
large number of ground surveys over the past few months, Indigo is
now prepared to commence its fully funded Phase II drilling
program."
Moule Permit
The 249 sq. km Moule gold permit is located in the Boromo
greenstone belt, approximately 270 km by road from the capital city
of Ouagadougou and 70 km south of the Poura Gold Mine. Indigo
geologists have identified multiple prospective targets for bulk
tonnage gold systems, based on the artisanal workings and previous
exploration programs of property-wide mapping and sampling of
quartz veining and quartz float. Subsequent efforts focused on the
7 km by 6 km Zelingpe area where a soil grid, detailed mapping and
local induced polarization (IP) survey identified multiple linear
targets. Three of these targets were drilled earlier in the year:
Zelingpe 1, Zelingpe 2 and Vein 3. The present drill program is
directed at follow up on Vein 3 and initial drilling on Vein 2.
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.
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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