Indigo Works Up Drill Targets at Kodyel
April 10 2012 - 11:03AM
Marketwired Canada
Indigo Exploration Inc. (TSX VENTURE:IXI)(FRANKFURT:INE) announces that the
Company has begun a surface exploration program at Kodyel aimed at generating
drill targets for an upcoming drill program. The Company is also re-evaluating
historic drill data on Kodyel from 1997 and 1998, which demonstrated a 600 metre
long trend of gold mineralization.
Key points are:
-- The current surface program consists of soil and lag quartz sampling
over approximately 56 square kilometres at a line spacing of 200 metres
and a sample spacing of 50 metres.
-- Grid covers anomalous drainages defined by highly anomalous BLEG
sampling between the Tangounga artisanal site and the Hantekoura CFA
site, a linear distance of 17 kilometres.
-- The Company is reassessing the historic drilling by SEMAFO at Hantekoura
CFA with significant intercepts including 4.37 g/t Au across 50.0 metres
and 1.46 g/t Au across 96.0 metres.
-- At least five thousand metres of reverse circulation drilling is planned
for Kodyel.
The 191-square-kilometre revised Kodyel permit lies close to the Niger border,
approximately 300 km east of Ouagadougou. The Kodyel permit, where several
artisanal workings occur along a 17 kilometre plus trend, is an extension of the
Fada N'Gourma greenstone belt. The most significant artisanal sites are the
Hantekoura CFA, Kodyel 1 and Tangounga sites. The Tangounga workings occur in a
2.7 kilometre wide strip currently excluded from the original permit, until such
time as the position of the border with Niger is arbitrated and settled by the
World Court. Both Burkina Faso and Niger have agreed to abide by the terms of
the World Court arbitration.
The Hantekoura CFA site was explored by SEMAFO in 1997 and 1998 with over 493
rotary air blast (RAB), 26 reverse circulation (RC) and 12 diamond drill holes
(DDH). The best intersection was a vertical RAB hole with 50 metres of 4.37 g/t
gold that stopped in mineralization.
Highlights of Historic Semafo Drilling:
-----------------------------------------------------------------
Hole ID From (m) To (m) Interval (m) Au (g/t)
-----------------------------------------------------------------
DDH-544 101.0 197.0 96.0 1.46
-----------------------------------------------------------------
DDH-546 0.0 29.1 29.1 0.97
-----------------------------------------------------------------
DDH-547 111.0 136.0 25.0 1.29
-----------------------------------------------------------------
DDH-548 54.0 100.0 46.0 1.17
-----------------------------------------------------------------
RC-498 45.0 64.0 19.0 1.57
-----------------------------------------------------------------
RAB-8 23.0 52.0 29.0 1.03
-----------------------------------------------------------------
RAB-9 25.0 53.0 28.0 1.08
-----------------------------------------------------------------
RAB-196 8.0 58.0 50.0 4.37
-----------------------------------------------------------------
RAB-232 0.0 50.0 50.0 0.94
-----------------------------------------------------------------
RAB-241 6.0 45.0 39.0 0.8
-----------------------------------------------------------------
RAB-364 9.0 36.0 27.0 1.4
-----------------------------------------------------------------
The historic Semafo drilling demonstrates a 600 metre long trend of gold
mineralization. The Company is reassessing the historic Semafo drilling at
Hantekoura for further follow-up drilling.
Indigo's interim president, Keir Reynolds, said: "We are very excited that we
have gained access to Kodyel and that our activities have begun there,
particularly with the 17 kilometre strikelength that remains untested between
Semafo's previous gold discovery and the Tangounga workings."
Unrelated, the balance of drill results from the Lati permit RC drill program
are pending.
About Burkina Faso
The Lati, 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,
Paul Cowley, P.Geo., Interim 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, planned drill program 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.
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