October 5, 2011 – Vancouver, British Columbia. Indigo Exploration Inc. (TSX-V: IXI, FSE: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”
R.Tim Henneberry, P.Geo.
President and CEO
For further information, please contact:
Tim Henneberry: (604) 681-3422
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.
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.
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.