Indigo Exploration Inc.: Q4 Burkina Faso Field Update
October 05 2011 - 7:30AM
Marketwired
Indigo Exploration Inc. (TSX VENTURE:IXI)(FRANKFURT:INE) provides
the following update on its planned Q4 gold exploration programs in
Burkina Faso, West Africa.
Key points are:
-- Indigo is in the final stages of securing three drill contracts for an
aggregate of 45,000 metres.
-- Reverse circulation drilling is expected to commence in early November
with a second rig scheduled to arrive on site later in November.
-- This will allow Indigo to aggressively explore both the Moule and Lati
gold permits simultaneously.
-- Field crews will mobilize to Moule to test the 9 kilometre long by 500
to 1500 metre wide airborne radiometric anomaly suggestive of strong
hydrothermal alteration as soon as weather conditions permit.
-- Assay results from the July 2011 Moule diamond drilling program remain
pending.
Indigo has one 15,000 metre drill contact in place for early
2012 and has just signed a second 15,000 metre contract commencing
in early November. Indigo is in the final stages of closing a third
15,000 metre contract to commence later in November.
Follow up drilling at Moule will focus on Vein 3, Vein 2 and
Zelingpe 1. Initial Vein 3 drilling highlights include: 29.67 gpt
Au over 7 metres and 10.86 gpt Au over 3 metres. Initial Zelingpe 1
drilling highlights include 1.12 gpt Au over 28 metres.
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: "Q4 2011 and Q1 and Q2
2012 will be instrumental in the growth of Indigo. Forty-five
thousand metres of drilling over the 2011-2012 African field season
will provide Indigo with a steady stream of assay and geological
information well into 2012."
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",
"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)
681-3422www.indigoexploration.com
Indigo Explorations (TSXV:IXI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Indigo Explorations (TSXV:IXI)
Historical Stock Chart
From Apr 2023 to Apr 2024