Indigo Exploration Inc. (TSXV:IXI)

Indigo Exploration Inc. is a Vancouver based junior exploration company focused on exploring for precious metal deposits in highly perspective geological terrains.

Indigo's projects are in Burkina Faso, one of the West African countries underlain by the productive and highly prospective Lower Proterozoic Birimian Greenstone Belt. Unlike the more mature exploration terrains of Ghana and Mali, Burkina Faso is relatively underexplored and offers excellent gold potential. Burkina Faso currently has nine operating gold mines and has a number of advanced stage projects advancing to production. The Company holds two exploration permits in Burkina Faso.

The Company has recently signed an option agreement with Desert Gold for 100% interest in the Djimbala Permit in southern Mali, strategically surrounded by a significant number of gold deposits, mines and prospecting permits, including those of Hummingbird Resources and Endeavour Mining.

Indigo Exploration Inc.’s corporate objective is to increase shareholder value by directing exploration dollars into the ground to advance and develop its quality mineral projects.

Paul Cowley, P. Geo. President, CEO, director and consultant of Indigo Exploration Inc., is the qualified person who has reviewed the technical material contained on this website.

-Projects:

-Burkina Faso

Indigo Exploration Inc. holds two gold exploration permits in Burkina Faso, West Africa. These projects lie within the Birimian Greenstone Belt of West Africa, one of the most prolific gold producing regions of the world.

The Birimian Greenstone Belt consists of Lower Proterozoic age volcanic and sedimentary units intruded and surrounded by related plutonic rocks and has a long history of gold mining with industrial history beginning in Ghana at the end of the 19th century. The modern Birimian Mining Era began in the 1980’s with the discovery of very fine gold, which had been previously unknown, in the Loulo and Syama gold deposits in Mali. These discoveries underlined the gold potential of the Birimian Greenstone Belt of West Africa, which had remained underestimated outside Ghana.

On going exploration and development since the 1980’s has lead to the discovery of several world class deposits as shown in the following table. Grades in these deposits vary greatly from 7.59 grams per tonne (gpt) Au at Obuasi to 1.21 gpt Au at Siguiri.

-Gold Reserves and/or Production from Key Mines in the Birimian Greenstone Belt
-Deposit
-Country
-Ounces
-Grade

Obuasi
Ghana
38,803,425
7.59

Afaho
Ghana
27,127,024
2.26

Akyem
Ghana
20,300,000
1.68

Tarkwa
Ghana
17,935,000
1.40

Loulo
Mail
16,020,000
4.49

Sadiola
Mali
14,022,000
2.03

Siguiri
Guinea
7,500,000
1.21

Morila
Mali
8,500,000
6.28

Syama
Mali
7,900,000
3.20

Fekola
Burkina Faso
5,150,000
2.16

Gounkoto Burkina Faso 5,400,000 4.4

Most Birimian hosted gold deposits occur in corridors 10 to 15 kilometres wide, in the transition zone between volcanic belts and sedimentary basins which are characterized by regionally extensive shear zones. Two major styles of gold mineralization occur in the Birimian: structurally controlled quartz vein style deposits and chemical sediment hosted deposits where gold is associated in selvages to quartz veins.


Greenstone Belts of Burkina Faso:

Indigo has chosen to concentrate in Burkina Faso, a politically stable country within French West Africa. Gold exploration in Burkina Faso has recently taken off, spurred by the revision of the country’s mining code in 2003. Exploration in Burkina Faso is in its infancy, compared to the more mature exploration climates in the adjoining countries of Ghana and Mali, where most of the major Birimian Gold Mines currently lie. However, in the short time since 2003, nine mines have opened in Burkina Faso and total gold reserves and resources have tripled to 50 million ounces. Burkina Faso is the fourth largest gold producer in Africa after South Africa, Ghana and Mali.

Burkina Faso remains under explored in comparison to Ghana and Mali. Indigo management believes there are strong probabilities for major gold discoveries in Burkina Faso.

Indigo has a land package of 2 properties spread throughout the various greenstone belts of Burkina Faso:

-Permit Sq. Km. Greenstone Belt Mineralization

-Hantoukoura 191 Fada N'Gourma Stacked veins

-Lati 184 Boromo Shear hosted veins

Note: The Company is regaining the original Lati permit as Lati 2 which has been paid for and should be granted shortly.

-Djimbala:

Indigo has signed an option agreement 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 mine, 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 project.

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.

Management & Directors

-Paul S. Cowley, P. Geo. - President, Chief Executive Officer and Director
For over forty years, Mr. Cowley, P.Geo. has held technical and managerial positions exploring for gold, base metals, diamonds, industrial minerals and coal worldwide. He has extensive experience in a major company setting based in Canada and South America (18 years with BHP Minerals). Projects include the Escondida world-class copper mine in Chile, Country Manager for Bolivia, and the Ekati diamond mine and the Slave gold project in the Canadian arctic. As manager of the Slave Gold Project, his team discovered and advanced 4 gold deposits amounting to over 6 million ounces of gold. Mr. Cowley also has extensive involvement in junior mining companies at President/CEO, VP Exploration, consultant and directorship levels. Mr. Cowley was instrumental in putting the Lexington-Grenoble gold-copper mine in BC into production, in doubling the resource at the polymetallic and precious metal J&L deposit in BC, adding resources at the Wolverine VMS deposit in the Yukon and establishing the largest highest grade primary vanadium resource in North America. Mr. Cowley is a Professional Geologist, P.Geo. and the Qualified Person for Indigo Exploration Inc. Mr. Cowley is also President and CEO of First Vanadium Corp.

-Rebecca Moriarty - Secretary and Chief Financial Officer
Ms. Moriarty earned her B.Sc. (Geology) from Queens University. She achieved her Chartered Accountant designation in 2002. During an eleven year period with PwC, she worked exclusively with resource companies. Since 2011, she has worked as a Senior Consultant with Malaspina Consultants Inc., continuing to work with resource companies, including First Vanadium Corp.

-Thomas Henricksen - VP Exploration and Director
Dr. Henricksen, received a BS in Geology from the University of Wisconsin-Oshkosh and has a PhD in Economic Geology from Oregon State University. He has extensive experience in gold and silver exploration, previously heading up the discovery and acquisitions in Peru, while with Rio Tinto, of the Ollachea orogenic gold deposit (now IRL) and the Corani polymetallic silver deposit (now Bear Creek Mining Company). He also served as the Chief Geologist at Norsemont Mining Inc., where he was involved with the acquisition from Rio Tinto and early exploration of the Constancia porphyry copper project that was sold and now in production with Hudson Bay Mining. Dr. Henricksen co-founded AQM Copper Inc. and served as the Chief Geologist and recommended for acquisition from Teck of the Zafranal porphyry copper deposit in Peru. He oversaw the early exploration program of the Zafranal, currently now back with Teck. He was also a founder of Midas Gold, that is now developing the large gold-antimony Stibnite deposit in central Idaho, US. Recently, he led the acquisition and early exploration of the high grade Hot Maden gold-copper deposit for Aegean Metals in eastern Turkey, now being developed by a Turkish private company. For the initial work at Hot Maden, Dr. Henricksen received the 2018 Colin Spence award for worldwide exploration from the AME in British Columbia. He is currently involved in West African gold exploration with GoldWater Guinee.

-Marino J. Sveinson - Director
Mr. Sveinson is a member of the Law Societies of British Columbia and the Yukon and a partner at Pulver Crawford Munroe LLP. Mr. Sveinson provides strategic results-oriented advice and representation with respect to all stages of workplace matters and has represented clients at all levels of the courts in B.C., labour arbitrations, the Human Rights Tribunal, and the Labour Relations Board. Mr. Sveinson also advises on labour and employment issues arising from corporate transactions and restructuring. He was raised in a family that is heavily involved in the mining industry and has provided legal advice and representation to a range of clients in the mining industry from junior exploration companies to a large international mining company.

-Lorne Warner, P.Geo. –Director
Mr. Warner is a professional geologist registered in BC, NWT and Nunavut of Canada and a graduate from the University of Alberta. He has over 30 years of experience with major and junior mining companies, including Noranda Exploration and Placer Dome. Since 2002 he has been involved in exploration management worldwide and has been highly successful in the discovery and delineation of several mineral deposits for various junior mining companies including: M Gold Zone at Detour Lake mine, the Falea uranium/silver/copper deposit in Mali and the Fatou Main gold zone in Mali. His African experience includes work in Mali, Niger, Burkino Faso, Namibia, and South Africa.

-Dr. Demetrius Pohl –Advisory Board
Dr. Pohl was instrumental in assembling the current Indigo Burkina Faso land package. Dr. Pohl spent 9 years working in West and East Africa as the principal geologist for BHP Minerals Africa, primarily engaged in gold exploration during the period from the late 1980’s to mid-1990’s. He was involved in the early identification and development of the Syama and Sadiola deposits in Mali, the Essakane deposit in Burkina Faso, and the Golden Pride deposit in Tanzania.