Jan 28 2014
Indico Resources Ltd. ("Indico" or the "Company") is currently drilling the Phase 3 programme at Ocaña, with seven holes completed to date, totalling 620 metres. Visual mineralization in the holes drilled to date supports the geological interpretation from previous drilling in late 2012. Samples for these holes are currently at ACME laboratories preparation facility in Lima, Peru. Geotec S.A., Peru mobilized the drill equipment to site in mid-December, 2013.
The Ocaña Property consists of 22 concessions covering 110.24 km2 and is located on the northwest extension of the Southern Peru Porphyry Copper Belt, a trend defined in part by the Toquepala, Quellaveco, Cuajone, and Cerro Verde Mines to the southeast. Most recent exploration of the belt has resulted in discovery of the Zafranal copper-porphyry deposit, located approximately 75 km to the southeast of the Ocaña Property.
This programme targets supergene mineralization and is primarily an infill programme to tighten the current 200m drill spacing to 100m. A Hydracore 4000 man-portable drill rig is being used and should be able to complete the programme by the end of March, 2014. Currently 32 holes are planned, totalling 3050 metres, and comprising mostly short, vertical holes to infill and further delimit near-surface, flat-lying supergene mineralization. Soluble copper and acid consumption tests indicate the supergene mineralization should be amenable to low-cost, SX/EW heap-leach processing. Figure 1 shows the layout/density of the planned holes and Figure 2 illustrates highlights from the Phase 2 drilling in 2012. Additional maps and cross sections are available at our website (http://www.indicoresources.com/s/Ocana.asp).
To close the programme, four additional longer holes (400 metres each) are planned to test the eastern limits of the larger hypogene mineralization, bringing the total to 4650 metres.
Qualified Person
John Drobe, P.Geo., Indico's Chief Operations Officer and a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information that forms the basis for this news release. Mr. Drobe is not independent of the Company as he is an officer and a shareholder.
On behalf of Indico Resources Ltd.
Robert Baxter, President and Chief Executive Officer
To view Figures 1 and 2 please visit the following link: http://media3.marketwire.com/docs/924020i.pdf
Source: http://www.indicoresources.com/