Indigo Extends Length of Gold Trend to 2.5 Kilometres at Lati, Burkina Faso
April 18 2012 - 9:38AM
Marketwired Canada
Indigo Exploration Inc. (TSX VENTURE:IXI)(FRANKFURT:INE) announces assays from
the remaining 34 holes of the 50 hole Phase I reverse circulation drill program
on its Lati gold permit in Burkina Faso, West Africa. The entire drill program
was a first pass prospecting effort, with broad spaced drill transects (200m -
1km apart) exploring a collective 7 kilometre long anomalous strikelength. The
1.5 kilometre long mineralized gold trend reported March 14, 2012 has been
extended a further 1 kilometre to the north with an intercept of 50 metres
grading 0.42 g/t Au.
The eastern target was tested for 4 kilometres by 8 broad spaced drill
transects, 4 of which were reported previously. On the Company website, a map
shows these 8 transects as Lines 5 through 12. This target covers two areas of
extensive artisanal workings. The drilling along this trend yielded numerous
intercepts of elevated gold mineralization. The best of the most recent drilling
included 50m grading 0.42 g/t Au. Together with the previously reported
intercepts, a 2.5 kilometre trend of wide, low-grade gold mineralization is
evident on Lati. The Company believes there is further potential to find
additional gold mineralization east and west of these transects as well as under
the extensive artisanal workings in this trend that have not been fully tested.
The highlights from these transects are tabulated below.
Line 8
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Hole ID From (m) To (m) Interval (m) Au (g/t)
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LTRC-25 15.0 65.0 50.0 0.42
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LTRC-26 26.0 27.0 1.0 1.05
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LTRC-27 0.0 7.0 7.0 0.42
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LTRC-27 23.0 28.0 5.0 0.33
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LTRC-27 49.0 51.0 2.0 0.47
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LTRC-27A 15.0 22.0 7.0 1.16
-----------------------------------------------------------------
Line 7
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Hole ID From (m) To (m) Interval (m) Au (g/t)
-----------------------------------------------------------------
LTRC-24 96.0 108.0 12.0 0.22
-----------------------------------------------------------------
LTRC-23 46.0 47.0 1.0 1.75
-----------------------------------------------------------------
LTRC-23 87.0 88.0 1.0 1.01
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LTRC-23 116.0 120.0 4.0 0.85
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Line 6
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Hole ID From (m) To (m) Interval (m) Au (g/t)
-----------------------------------------------------------------
LTRC-20 18.0 21.0 3.0 0.75
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LTRC-21 9.0 14.0 5.0 0.34
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LTRC-21A 26.0 34.0 8.0 0.59
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LTRC-21A 133.0 138.0 5.0 0.20
-----------------------------------------------------------------
Line 5
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Hole ID From (m) To (m) Interval (m) Au (g/t)
-----------------------------------------------------------------
LTRC-16 118.0 119.0 1.0 1.06
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LTRC-17 128.0 130.0 2.0 1.23
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LTRC-18 80.0 84.0 4.0 0.32
-----------------------------------------------------------------
The Northwest target area explored a 1 kilometre trend of extensive artisanal
workings by 4 drill transects numbered 1 through 4. The Northwest target is
approximately 1 kilometre northwest of the Eastern target. The best intercept
here was 4.16 g/t Au across 4m. This area reported a previous drillhole by UNDP
of 12m grading 2.5 g/t Au. The drilling in the northwest target encountered
multiple intercepts of elevated gold, however, were found to be narrow or too
dispersed to generate substantial zones. The highlights are tabulated below.
Line 1
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Hole ID From (m) To (m) Interval (m) Au (g/t)
-----------------------------------------------------------------
LTRC-01 56.0 65.0 9.0 1.03
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LTRC-01 86.0 90.0 4.0 0.74
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LTRC-4 91.0 93.0 2.0 0.47
-----------------------------------------------------------------
LTRC-4 103.0 110.0 7.0 0.25
-----------------------------------------------------------------
LTRC-4 140.0 143.0 3.0 0.42
-----------------------------------------------------------------
LTRC-9 129.0 131.0 2.0 3.05
-----------------------------------------------------------------
Line 2
-----------------------------------------------------------------
Hole ID From (m) To (m) Interval (m) Au (g/t)
-----------------------------------------------------------------
LTRC-5 1.0 4.0 3.0 0.44
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LTRC-6 129.0 140.0 11.0 0.30
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LTRC-7 1.0 12.0 11.0 0.39
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Line 3
-----------------------------------------------------------------
Hole ID From (m) To (m) Interval (m) Au (g/t)
-----------------------------------------------------------------
LTRC-11 95.0 99.0 4.0 4.16
-----------------------------------------------------------------
LTRC-11 120.0 123.0 3.0 1.23
-----------------------------------------------------------------
LTRC-12 70.0 73.0 3.0 0.73
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LTRC-12 96.0 98.0 2.0 0.49
-----------------------------------------------------------------
LTRC-12 133.0 144.0 10.0 0.23
-----------------------------------------------------------------
Line 4
-----------------------------------------------------------------
Hole ID From (m) To (m) Interval (m) Au (g/t)
-----------------------------------------------------------------
LTRC-15 87.0 90.0 3.0 0.56
-----------------------------------------------------------------
LTRC-15 98.0 101.0 3.0 0.45
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Approximately 1.5 kilometres south of the Northwest zone, hole LTRC-40
intercepted 22m grading 0.32 g/t Au under separate artisanal workings.
Indigo's Interim CEO, Paul Cowley, said: "This was a good first pass on Lati and
we are encouraged by tagging into a sizeable gold trend with potential for more
opportunity east and west of it."
The 100% owned, 246 sq. km Lati permit is located in the Boromo greenstone belt,
approximately 150 km by road from the capital of Ouagadougou and 45 km north of
the Poura Gold Mine. Much of this large permit remains unexplored. Mineralized
quartz veins are common through the area, ranging from thin stockworks to
metre-scale structures associated with regional scale shearing and fracturing
mainly in mafic volcanic rocks. Several artisanal workings and prospects lie
proximal to the both contacts between the sheared volcanics and intrusives.
Quality Control and Assurance
All samples were 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 reverse circulation cuttings collected using a
cyclone in 1 metre intervals that are riffle split at the drill site. 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., Interim CEO and
director of Indigo, is the qualified person for the drilling campaign.
About Burkina Faso
The Kodyel, Loto, Lati, 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,
Keir Reynolds, Interim President
Paul Cowley, P.Geo., Interim CEO and 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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