Indigo Exploration files 43-101 Fox Creek West report
2023-11-20 16:50 ET - News Release
Mr. Paul Cowley reports
INDIGO EXPLORATION FILES NI 43-101 TECHNICAL REPORT FOR THE FOX CREEK WEST PROJECT, ALBERTA
Indigo Exploration Inc.'s National Instrument 43-101 technical report titled "NI 43-101 Technical Report: Resource Assessment of the Fox Creek West Lithium Project in West Alberta, Canada, for Indigo Exploration Inc. (As of Oct. 1, 2023)" has been filed on SEDAR+.
The report documents a maiden lithium brine resource estimate at its wholly owned Fox Creek West property in Alberta completed by Sproule Associates Ltd., as initially reported by way of the company's news release dated Oct. 4, 2023.
Key highlights:
- 231,100 tonnes of LCE in the inferred mineral resource category from two Devonian-aged formation aquifers: the Wabamun and Beaverhill Lake group formations;
- Fox Creek West property has an estimated 3.8 billion barrels of brine, with lithium concentrations between 31 milligrams per litre to 93 milligrams per litre and an estimated average lithium concentration of 72 milligrams per litre;
- In comparison, Lithiumbank's Broadwalk project 30 kilometres away has an average grade of 68 grams per litre;
- Indigo's total land position at Fox Creek West equals 55,103 hectares and is adjacent to Lithiumbank properties.
- Indigo intends to focus development on those areas of its asset base featuring the highest lithium concentrations in the Beaverhill Lake group formations, which are expected to drive strong economic returns and robust cash flows.
The resource estimate, along with various scientific and technical information in this press release, has been prepared and approved by Indigo Exploration's multidisciplinary team of Meghan Klein, PEng, Doug Ashton, PEng, and Alexey Romanov of Sproule, a global leader in subsurface fluid resource evaluations with over 70 years of experience. Each of the above persons meets the qualifications for a qualified person within the meaning of National Instrument 43-101.
About Indigo Exploration Inc.
Indigo Exploration is an emerging petrolithium brine explorer with 147,904 hectares of metallic and industrial mineral permits in central Alberta, Canada. The company's three primary lithium projects are the Fox Creek (114,522 hectares), Leduc-Legal (23,488 hectares) and Peace River (10,048 hectares), which are located within the heart of lithium exploration and development in Western Canada.
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