Indigo Drills 6.16 gpt Au over 3.1 metres and 11.02 gpt Au over 1.77 metres at Moule
October 26 2011 - 8:30AM
Marketwired
Indigo Exploration Inc. (TSX VENTURE:IXI)(FRANKFURT:INE) provides
results from the 13 hole July 2011 diamond drilling program on its
Moule gold permit in Burkina Faso, West Africa. Drilling was
focussed on Vein 3 and Vein 2.
Key points are:
-- Indigo intersected 11.02 gpt Au across 1.77 metres, approximately 40
metres below the previously reported drill intersection of 29.67 gpt Au
across 7 metres, confirming continuity to depth.
-- Vein 3 shows lateral continuity for 350 metres and is open northward.
-- Indigo intersected 6.16 gpt Au across 3.10 metres at the southern end of
Vein 3, approximately 1,400 metres south of the 1.77 metre intercept of
11.02 gpt Au.
-- Indigo intersected 0.47 gpt Au across 13.07 metres, including 1.12 gpt
Au across 3.25 metres in one of the three holes completed on Vein 2.
-- The reverse circulation phase of the program is scheduled to commence in
November to follow up on Vein 2, Vein 3 and Z1 results at Moule and
initially test Prospect 1 at Lati.
-- Plans and selective sections can be found under the current exploration
section on the Indigo Website:
http://www.indigoexploration.com/index.php/location-burkina-faso
Table 1. Moule July 2011 Diamond Drilling Highlights
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Hole No. From (m) To (m) Length (m) gpt Au
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MODD-01 59.74 62.58 2.84 1.78
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and 83.30 87.56 4.26 0.65
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MODD-02 129.64 131.41 1.77 11.02
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and 142.46 145.47 3.01 1.25
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MODD-03 151.37 151.84 0.47 1.08
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MODD-04 119.65 121.27 1.62 1.34
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MODD-07 102.81 104.20 1.39 0.54
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MODD-08A 43.02 44.20 1.18 0.27
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MODD-09 88.84 89.88 1.04 2.26
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MODD-10 75.50 78.60 3.10 6.16
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MODD-11 74.25 75.20 0.95 1.43
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and 87.35 94.20 7.85 0.27
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MODD-12 90.33 93.55 3.22 1.35
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and 108.84 110.54 1.70 0.73
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MODD-13 14.50 27.57 13.07 0.47
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including 21.60 24.85 3.25 1.12
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and 36.15 37.77 1.62 0.80
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and 96.50 98.08 1.58 0.53
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and 146.00 148.00 2.00 0.44
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The July 2011 diamond drill program consisted of 10 holes at
Vein 3 and 3 holes at Vein 2. Visible gold was noted in hole
MODD-02.
The November 2011 RC program will focus on testing Vein 3 and
Vein 2 along strike and testing Z1 (Zelingpe 1) along strike and at
depth.
Initial drilling on Lati will focus on the two new soil
anomalies discovered on Prospect 1. These anomalies are 4.75km long
by 100-750m wide and 1.5km long by 250-350m wide respectively, with
values generally between 25 and 5,000 ppb Au. The soil anomalies
coincide with portions of the two known artisanal sites and a newly
developing site lying on strike between the two known sites.
Indigo's President, Tim Henneberry, said: "The July 2011 diamond
drilling program indicates continuity of gold mineralization to
depth and along strike at Vein 3. The initial Vein 2 drilling
results warrant a systematic reverse circulation program. Indigo
management continues to be encouraged by exploration results and
looks forward to further success in late 2011 and 2012."
Quality Control and Assurance
All samples were initially analyzed by 50 gram fire assay. The
widths and grades reported are drill intercept widths and may not
represent the true width of mineralization. Samples are from
diamond drill core and sawn in half, with 1/2 of the core retained
and the other half bagged and sent to the lab for analysis. 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.
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 it 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",
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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.
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accuracy of this release.
Contacts: Indigo Exploration Inc. Tim Henneberry (604)
681-3422www.indigoexploration.com
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