Indigo Exploration Inc. (TSX VENTURE: IXI)(FRANKFURT: INE) provides
exploration updates on its Moule, Lati and Kodyel gold exploration
permits in Burkina Faso, West Africa.
Key points are:
-- Diamond drilling continues at Moule.
-- Eleven holes have been completed on the Vein 3 shear-hosted gold target
along a 1,200 metre strike length. Previous reverse circulation drilling
at Vein 3 included the discovery hole which returned 29.67 gpt Au over 7
metres (see NR April 11, 2011).
-- One of 3 holes has been completed to date, initially testing the
coincident soil and geophysical anomalies at Vein 2.
-- Airborne geophysics has identified new targets at Moule and Kodyel.
-- At Lati, sampling has been completed over the 8 km by 1 km Prospect 1,
which includes a 4.5 km by 1 km area of numerous active artisanal sites.
Moule
A diamond drilling program commenced in mid-July at Moule and
continues. To date, 11 holes have been completed on Vein 3. The
program has tested Vein 3 along 1,200 metres of strike and locally
to a depth of 200 metres. One of 3 holes has been completed to
initially test the plus 1 kilometer long gold soil anomaly with
coincident ground geophysical IP anomalies at Vein 2. Half core is
being submitted to ALS Chemex for gold assaying. Results will be
released when received.
The preliminary results from a resistivity / IP survey over the
2,000 metre by 750 metre Vein 3 soil grid and the 2,000 metre by
500 metre Vein 2 soil grid has identified several new drill
targets. The current diamond drilling program was modified to test
some of these anomalies. The remaining anomalies will be tested
during the 15,000 metre fall reverse circulation phase of this
drill program. The drill targets consist of a series of
chargeability and resistivity highs trending N-S and NNW-SSE,
parallel to mineralized quartz veins exposed in subcrop and
artisanal workings. These highs suggest parallel occurrences of
mineralization may be present.
The radiometric airborne survey completed over the Moule/Loto
project has identified a major new anomaly that is 9 kilometres
long by 500 to 1500 metre wide and is suggestive of strong
hydrothermal alteration. Indigo crews have already commenced a grid
soil sampling survey over the full length of the radiometric
anomaly to prepare this trend for future drilling.
Lati
Soil sampling covered an area 8 kilometres long by up to 800
metres wide at a line spacing of 200 metres with a sample spacing
of 50 metres. A total of 1539 samples were collected. Quartz float
sampling was also completed within the grid resulting in a further
861 samples. Results for these sampling surveys are pending.
The artisanal sites at Lati continue to grow in size and remain
extremely active. New artisanal sites have been noted in the area
between the two previously reported sites. Again, the activity is
concentrated in the thin saprolite layer above bedrock, which is
encouraging to Indigo's geological team, as gold appears sourced
from the bedrock. The newest site has yet to be surveyed or
examined in detail.
A portion of the 15,000 metre fall RC drill program will test
the artisanal sites as well as targets generated from the soil and
rock sampling surveys.
Kodyel
The Kodyel airborne geophysical survey shows the greenstone belt
on the Kodyel permit is structurally deformed and complex over its
entire 15 km length. Most importantly, the radiometric survey
suggests strong hydrothermal alteration through the centre of the
permit, coincident with a large area of anomalous gold in stream
sediments. The radiometric survey re-confirms the area as a very
high priority target.
Indigo's President, Tim Henneberry, said: "We're excited to be
following up on our high-grade discovery at Moule with the current
diamond drilling phase of the program and hope to add some strike
length to the discovery. The large RC phase of the program will
start after the rainy season."
About Indigo Exploration
Indigo Exploration Inc. (TSX VENTURE: IXI) is an exploration
company focused on exploring for major precious metal deposits in
Burkina Faso, one of the West African countries underlain by the
highly prospective Early Proterozoic Birimian Greenstone Belt.
Unlike the more mature exploration terrains of Ghana and Mali,
Burkina Faso is relatively underexplored and offers excellent
potential for gold discovery. The Company has 4 projects spanning
close to 1,000 sq km in Burkina Faso through the acquisition of
Sanu Resources Burkina SARL, a subsidiary of NGEx Resources Inc.
The Company made an all-new high-grade gold discovery (7m of 29.67
g/t Au) on its Moule gold project in April 2011 and will be
aggressively drilling and exploring its projects.
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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