Indigo Works Up Drill Targets at Kodyel
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/10/12 -- 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:
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Hole ID From (m) To (m) Interval (m) Au (g/t)
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DDH-544 101.0 197.0 96.0 1.46
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DDH-546 0.0 29.1 29.1 0.97
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DDH-547 111.0 136.0 25.0 1.29
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DDH-548 54.0 100.0 46.0 1.17
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RC-498 45.0 64.0 19.0 1.57
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RAB-8 23.0 52.0 29.0 1.03
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RAB-9 25.0 53.0 28.0 1.08
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RAB-196 8.0 58.0 50.0 4.37
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RAB-232 0.0 50.0 50.0 0.94
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RAB-241 6.0 45.0 39.0 0.8
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RAB-364 9.0 36.0 27.0 1.4
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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.
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.
Paul Cowley
Interim CEO
(604) 340-7711
pcowley@indigoexploration.com
www.indigoexploration.com