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TSX-V: IDI
Indico Resources Ltd. (IDI) is a Canadian based junior exploration
company with a focus in the discovery and exploration of Porphyry
copper gold deposits. The current efforts of the company are on the
Ocaña porphyry copper-gold project in southern Peru - a country with an
extensive history of mining. The maiden resource estimate for
supergene mineralization at Ocaña was released in July 2014, and work
will progress with on-going drilling and metallurgical studies to be part of
a preliminary economic assessment on a proposed heap-leach, SX/EW
copper mine. This work will also help outline higher-grade hypogene
material within this large porphyry system. Exploration efforts are
strengthened by robust prices and strong fundamental long term
outlooks of copper, gold and molybdenum.
Porphyry Copper Gold Exploration in Peru
The Ocaña project lies along the northern extension of the Southern Peru
Porphyry Copper Belt, in the districts of Yanaquihua and Chicas in the province of
Condesuyos, Department of Arequipa of southern Peru. The Toquepala,
Quellaveco, Cuajone, and Cerro Verde Mines are on regional trend to the
southeast. Recent exploration in the belt has also resulted in discovery of the
Zafranal copper - molybdenum - gold porphyry deposit (Measured & Indicated
resources of 301MT of 0.47% Cu, 0.08g/t Au), located approximately 75km to the
southeast of the Ocaña Project.
PERU
LIMA
Cerro Verde
Ocaña
Zafranal
Cuajone
Quellaveco
Toquepala
AREQUIPA
Cerro Negro
Supergene Resource Estimate: In July 2014, Indico announced the maiden
resource estimate for the supergene portion of the Ocaña project, based on 9903
metres of drilling in 57 holes. The technical report for this estimate has been filed
on SEDAR. The table below lists the estimated resources following Canadian
Institute of Mining, Metallurgy and Petroleum ("CIM") classification definitions
at the cut-off grade of 0.1% recoverable (acid and cyanide soluble) copper. The
recoverable copper cut-off, using sequential copper leach analysis, is used
because it is a more conservative limit of economically extractable material.
Classification *
CAPITALIZATION (as of Oct 22, 2014)
Shares issued:
Fully diluted:
Recent Price:
52 week high/low:
Market Capitalization:
100.5M
143.3M
$0.07
$0.19 - $0.04
$4.0M
MANAGEMENT & DIRECTORS
Robert Baxter
John Drobe
Henk Van Alphen
David Savage
Bob Parsons
Brian Kerzner
Asgari Stevens
Tarejk Damerjui
President / CEO & Director
Chief Operating Officer
Director
Director
Director
Director
Director
Director
tel: +1.604.638.5938
Indicated
Inferred
Rec Cu %
Cut-off
0.10
0.20
0.30
0.40
Indicated
Cumulative
Tonnes
(millions)
13.7
12.7
8.2
4.2
*see definitions on reverse
email: [email protected]
Millions of
Tonnes
13.7
36.1
Tot Cu %
0.46
0.47
0.52
0.61
Total Cu %
0.46
0.34
Inferred
Cumulative
Tonnes
(millions) Tot Cu %
36.1
0.34
30.0
0.39
17.1
0.44
7.1
0.52
Strategic Partner
www.indicoresources.com
TSX-V:IDI
Cro
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S
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Ocaña Drill Plan, Area of Resource Estimate,
and Targets
Drilling: Indico has diamond drilled a total of
9903 metres in 57 holes at the project. The
initial five wide-spaced holes totaling 2195
metres drilled in mid-2011 (Phase 1) intersected
strong porphyry copper mineralization over
significant thicknesses. The follow-up Phase 2
programme was completed in late 2012,
totaling 4733 metres, and consisted of 19 holes
that infilled and expanded the area of known
mineralization. Phase 3 drilling, totaling 2975
metres, supports the maiden supergene
resource estimate, and was completed in May
2014.
The mineralized system has dimensions of at least 1000 metres east-west and up to 700
metres north-south. It extends significantly to the north onto the neighbouring property.
Supergene mineralization forms a shallow blanket of varying thickness extending south
from the concession boundary to underneath the gravel covered valley south of the main
east-west ridge. It is consistently approximately 50 metres thick under the main ridge, and
dips to the west subparallel to the ridge crest.
Ocaña Block Model Section
West Zone
The two targets of interest for on-going drilling are: 1) the eastern extension of the
shallow, flat-lying supergene blanket that is part copper oxide and part copper sulphide
(chalcocite), and is amenable to low-cost, acid heap-leaching, based on sequential copper
leach tests on core samples; and 2) higher-grade portions of the hypogene copper-goldmolybdenum mineralization within the central and eastern portions of the breccia that is
central to the mineralized area.
Indicated Mineral Resources have quantity, grade or quality, densities, shape and physical characteristics estimated
with a level of confidence sufficient to allow the appropriate application of technical and economic parameters, to
support mine planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and
reliable exploration and testing information that is spaced closely enough for geological and grade continuity to be
reasonably assumed.
Inferred Mineral Resources have quantity and grade or quality estimated on the basis of geological evidence and limited
sampling and reasonably assumed, but not verified, geological and grade continuity. Uncertainty is sufficient that it
cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded to an Indicated or Measured
Mineral Resource as a result of continued exploration.
tel: +1.604.638.5938
email: [email protected]
DISCLAIMER: Certain statements contained in this
document, including, without limitation, those concerning
the economic outlook for the mining industry,
expectations regarding metal prices and production, the
completion and commencement of commercial operations
of certain of Indico Resources Limited (IDI) projects, and its
liquidity and capital resources and expenditure, contain
certain forward-looking statements regarding IDI's
economic performance and financial condition. Although
IDI believes that the expectations reflected in such
forward-looking statements are reasonable, no assurance
can be given that such expectations will prove to have been
correct. Accordingly, results could differ materially from
those set out in the forward-looking statements as a result
of, among other factors, changes in economic and market
conditions, success of business initiatives, changes in the
regulatory environment and other government actions,
fluctuations in metal prices and exchange rates, and
business and operational risk management. IDI undertakes
no obligation to update publicly or release any revisions to
these forward-looking statements to reflect events or
circumstances after the date of the annual report. All
subsequent written or oral forward-looking statements
attributable to IDI or any person acting on its behalf are
qualified by the cautionary statements herein. John Drobe
is the Qualified Person, as defined by National Instrument
43-101, for all technical content on this factsheet.
CORPORATE OFFICE
Indico Resources Ltd.
1108 - 1166 Alberni Street
Vancouver, BC, Canada, V6E 3Z3
www.indicoresources.com