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Indigo Exploration Announces Mali Property Acquisition, Corporate Restructuring including Share Consolidation, Debt Settlement and a Financing
Vancouver, British Columbia--(Newsfile Corp. - April 13, 2020) - Indigo Exploration Inc. ...
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[{"type":"text","content":"Indigo Exploration Announces Mali Property Acquisition, Corporate Restructuring including Share Consolidation, Debt Settlement and a FinancingVancouver, British Columbia--(Newsfile Corp. - April 13, 2020) - Indigo Exploration Inc. (TSXV: IXI) (FSE: INE) (the \"Company\") announces that it has signed an option agreement, as described in more detail below, with Desert Gold Ventures Inc. (\"Desert Gold\") and its local Mali subsidiary, Desert Gold Mali SARL (\"DGM\"), to acquire up to a 100% interest in the Djimbala Permit in southern Mali, West Africa. The Djimbala Permit lies immediately east of Hummingbird Resources' 0.7 million oz Au Komana gold mine1, 21 kilometres north, along strike, of the Kodieran gold Mine and 28 kilometres north, along strike, from Endeavour's high grade 3.3 million oz Au Kalana project2. The Djimbala Permit will complement the Company's West African gold-focused portfolio with the two permits in Burkina Faso, the Hantoukoura and Lati 2 permits.The Djimbala Permit is located in southern Mali, West Africa, 220 km south of the capital of Bamako and covers a 100 km2 area. The permit is situated in the Yanfolila Gold Belt and is surrounded by a significant number of gold deposits, mines and prospecting permits. The bulk of the permit has not been explored. Two small soil sampling campaigns and a limited artisanal pit sampling program were completed by Desert Gold over parts of the permit with positive Au anomalies coinciding with interpreted favourable mineralized structures. Four north-south trending gold soil anomalies were defined, reflecting the regional structural trend. These soil anomalies also appear to correspond to the southern extension of the Faliko Fodela mineralized zones drilled by Gold Fields immediately north of the Djimbala Permit. To date, several active artisanal workings were located during the soil campaigns, confirming Au mineralization.Paul Cowley, President and CEO of the Company, states: \"The Djimbala acquisition will complement our existing gold portfolio and maintain our West African focus. The Company's share restructuring, debt settlement and financing are well timed for the strengthening gold market. We are very much looking forward to reactivating our exploration efforts in Burkina Faso and Mali once financed. A work plan and budget are being developed for 2020 with...