Indigo Exploration Inc. Increases Moule Drill Program on New Sample Results
28.01.2011 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Jan. 28, 2011) - Indigo Exploration Inc. (TSX VENTURE: IXI) has completed a systematic surface grab sampling program over the Zelingpe 2 target on its Moule Permit, Burkina Faso, West Africa. Results from the 1.1 kilometre by 700 metre grid over the target show significant multiple anomalous gold trends that range from 25 metre to 150 metres wide. Sixty-eight grab samples within the trends returned values between 1 gram/tonne (g/t) gold and 38.6 g/t gold. The 3,000 metre reverse circulation drill program on Zelingpe 2 currently underway has been expanded to 5,000 metres because of the new grab sample results.At Zelingpe 2, there are substantial amounts of quartz fragments with limonitic fracture fillings lying on surface along its trend (quartz float). Grab samples were systematically taken at 25 metre centres over an area 1.1 kilometres long by 700 metres wide, with each sample representing a composite of quartz float material collected within a 10 metre radius of each grid point. In this manner, values are averaging grade over a larger area than from a single point sample. 17.70% of the total 1116 samples returned gold values >0.1 g/t gold to a maximum of 38.6 g/t gold. 6.1% of the samples returned values in excess of 1.0 g/t gold and 1.1% of the samples returned values >5g/t gold.
Indigo\'s President, Tim Henneberry, said: "We are very pleased with the high proportion of elevated gold values and the multiple wide trends developing on this target. The sampling has strengthened the drill target considerably. As we are currently drilling this target, we are able to take advantage of these encouraging results, by expanding the drill program immediately."
The following table lists the grab sample values in excess of one gram per tonne gold.
Sample No. Description g/t Au Sample No. Description g/t Au
MOR-654 Quartz float 1.08 MOR-1035 Artisanal waste dump 1.34
MOR-655 Quartz float 1.26 MOR-1037 Artisanal waste dump 1.11
MOR-699 Quartz float 1.82 MOR-1040 Artisanal waste dump 9.08
MOR-700 Quartz float 19.20 MOR-1041 Quartz float 1.52
MOR-813 Quartz float 1.68 MOR-1051 Artisanal waste dump 1.70
MOR-822 Quartz float 14.45 MOR-1053 Quartz float 1.92
MOR-824 Quartz float 3.51 MOR-1056 Quartz float 3.10
MOR-825 Quartz float 4.65 MOR-1101 Quartz float 2.36
MOR-826 Quartz float 3.03 MOR-1109 Artisanal waste dump 1.41
MOR-848 Quartz float 1.51 MOR-1111 Quartz float 3.11
MOR-851 Quartz float 1.89 MOR-1119 Quartz float 2.16
MOR-861 Quartz float 1.06 MOR-1202 Quartz float 1.03
MOR-867 Quartz float 2.54 MOR-1204 Quartz float 3.45
MOR-890 Quartz float 1.28 MOR-1219 Quartz float 38.60
MOR-899 Quartz float 8.57 MOR-1226 Quartz float 4.94
MOR-919 Quartz float 1.21 MOR-1230 Quartz float 4.95
MOR-935 Quartz float 4.04 MOR-1253 Quartz float 6.26
MOR-953 Quartz float 6.36 MOR-1261 Quartz float 1.45
MOR-960 Quartz float 1.57 MOR-1270 Quartz float 1.62
MOR-961 Quartz float 4.43 MOR-1272 Quartz float 2.00
MOR-964 Quartz float 2.45 MOR-1276 Quartz float 1.33
MOR-966 Artisanal waste dump 1.49 MOR-1278 Quartz float 5.99
MOR-969 Artisanal waste dump 12.10 MOR-1344 Quartz float 1.20
MOR-970 Artisanal waste dump 1.95 MOR-1395 Quartz float 2.66
MOR-971 Artisanal waste dump 2.25 MOR-1409 Quartz float 12.85
MOR-973 Artisanal waste dump 4.30 MOR-1455 Quartz float 1.68
MOR-975 Artisanal waste dump 1.05 MOR-1500 Quartz float 1.37
MOR-978 Artisanal waste dump 5.44 MOR-1510 Quartz float 1.93
MOR-1015 Artisanal waste dump 13.95 MOR-1529 Quartz float 1.19
MOR-1019 Quartz float 2.13 MOR-1563 Quartz float 1.32
MOR-1026 Artisanal waste dump 1.33 MOR-1653 Quartz float 1.45
MOR-1027 Artisanal waste dump 1.63 MOR-1675 Quartz float 1.10
MOR-1031 Artisanal waste dump 2.26 MOR-1767 Quartz float 1.33
MOR-1034 Artisanal waste dump 1.31
Maps of the sampling can be found on the Company website (www.indigoexploration.com) under "Projects/Burkina Faso/Moule". Samples were sent to ALS Laboratory Group in Ouagadougou, Burkina Faso for fire assay.
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 Zelingpe 1 target is a plus 1 kilometre long chargeability anomaly covered by laterite capping with associated fringe artisanal workings. The Zelingpe 2 target is 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. The Zelingpe grid 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.
About Burkina Faso
The Moule property lies 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", "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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Contact:
Indigo Exploration Inc.
Tim Henneberry
(604) 681-3422
www.indigoexploration.com