TSX.V: IXI

 

April 18, 2012 – Vancouver, British Columbia. Indigo Exploration Inc. (TSX-V: IXI, FSE: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 0.42g/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

Hole ID

From (m)

To (m)

Interval (m)

Au (g/t)

LTRC-25

15.0

65.0

50.0

0.42

LTRC-26

26.0

27.0

1.0

1.05

LTRC-27

0.0

7.0

7.0

0.42

LTRC-27

23.0

28.0

5.0

0.33

LTRC-27

49.0

51.0

2.0

0.47

LTRC-27A

15.0

22.0

7.0

1.16

Line 7

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

LTRC-23

116.0

120.0

4.0

0.85

Line 6

Hole ID

From (m)

To (m)

Interval (m)

Au (g/t)

LTRC-20

18.0

21.0

3.0

0.75

LTRC-21

9.0

14.0

5.0

0.34

LTRC-21A

26.0

34.0

8.0

0.59

LTRC-21A

133.0

138.0

5.0

0.20

Line 5

Hole ID

From (m)

To (m)

Interval (m)

Au (g/t)

LTRC-16

118.0

119.0

1.0

1.06

LTRC-17

128.0

130.0

2.0

1.23

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

Hole ID

From (m)

To (m)

Interval (m)

Au (g/t)

LTRC-01

56.0

65.0

9.0

1.03

LTRC-01

86.0

90.0

4.0

0.74

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

LTRC-6

129.0

140.0

11.0

0.30

LTRC-7

1.0

12.0

11.0

0.39

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

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

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”

Keir Reynolds

Interim President

For further information, please contact:

Paul Cowley: (604) 340-7711 or Keir Reynolds: (778) 998-9242

Website:  www.indigoexploration.com

 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.

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.

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.