VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/09/13 -- Indico Resources Ltd. ("Indico" or the "Company") (TSX VENTURE: IDI)(OTCQX: IDIFF) is pleased to provide the final encouraging drill results from the Phase 2 drilling campaign at the Ocana Cu-Au-Mo porphyry in Arequipa Region, Southern Peru. In Phase 2, a total of 4733 metres were drilled in 19 holes; the additional significant assay results from holes received since the last news release are shown in Figure 1 and Table 1, and all significant intersections are listed in Table 2.
The eastern-most hole drilled, OCA014, intersected additional high-grade primary (hypogene) Cu-Au mineralization within the diorite breccia and, together with hole OCA011, appears to have delimited the southern extent of the copper-gold breccia zone. From 27 to 94 metres, this hole intersected 67 metres of 0.35% copper and 0.27 g/t gold, or 0.59% CuEq(i), within diorite and diorite breccia. Below this are 198 metres of 0.35% copper and 0.05 g/t gold within dacite and dacite breccia (Figure 2). The diorite and diorite breccia with the higher-grade copper and gold is open to the east and north along the concession boundary. This mineralization will be drilled out in a future drill programme using a man-portable drill rig capable of being installed on the steep rocky slopes in this area. Mapping indicates the breccia extends for 200 metres east of the high-grade mineralization in hole OCA010 (Figure 1). The current known extent of the copper-gold zone is approximately 500 metres east-west by 200 metres north south and truncated by the concession boundary; it is open at depth, but is drill-tested to extend at least 300 metres vertically.
The remainder of the holes mostly tested the extent, thickness and grade of sulphide and oxide supergene mineralization intersected by previous holes along the main east-west ridge. These holes indicate the supergene blanket is consistently approximately 50 metres thick, consisting of copper oxide and sulphate minerals near the top, grading down into dominantly chalcocite at the base, where it transitions sharply to hypogene chalcopyrite mineralization. The blanket dips to the west subparallel to the ridge crest, and has an east-west dimension of over 700 metres, with a width over 200 metres at the west end, increasing to 400 metres on the east end. Under the central part of the system the blanket averages about 30-45 metres thick and thins to the east as the slope steepens. Near the base of this slope, the last vertical infill hole, OCA016, intersected 33.6 metres of 0.80% copper, mostly as copper sulphate and chalcocite (Figures 1 and 2).
Two holes drilled in the southeast corner of the supergene target intersected weaker mineralization over wider widths, which will have to be followed up in subsequent drilling. Hole OCA015 intersected strongly leached oxide material to a depth of 88.5 metres, followed by a very thin (1.5 metre) chalcocite-enriched layer, below which it intersected 90.4 metres of 0.19% copper in the hypogene zone. Strong fracturing of the core and in adjacent outcrops suggest the hole is within a fault zone that has seen higher-than-normal leaching of copper. Hole OCA019, located almost 200 metres to the south and angled to the northeast (Figures 1 and 2), has deep-penetrating (to 140 metres) but wider-spaced fractures with pervasive leaching confined to narrow intercepts; from 47 to 147 metres it intersected 100 metres of 0.28% copper mostly as chalcocite on pyrite and chalcopyrite. The hole crossed several highly fractured and leached fault zones with neglible copper, similar to the material intersected by OCA015.
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