Vancouver, British Columbia--(Newsfile Corp. - September 21, 2023) - Indigo Exploration Inc. (TSXV: IXI) (OTCQB: IXIXF) (FSE: INEN) (the "Company") is pleased to provide an update on the timing for its maiden lithium brine resource estimate for the wholly-owned Fox Creek West project in Alberta, Canada. Following on from the engagement of Sproule as announced on September 6, 2023, the Company and Sproule have been actively working on compiling the necessary information for Sproule to calculate an initial resource. Based on significant advancements in data compilation and geological modelling, Indigo has been informed by Sproule that the inferred resources are anticipated in early October.
"The delivery of a maiden NI 43-101 resource estimate for the first of our lithium brine projects represents a significant milestone for the team and Company," commented Paul Cowley, President & CEO of Indigo Exploration. "Working with one of the preeminent oil and gas engineering firms that has extensive experience in petroleum reservoirs and deep knowledge of the Western Canadian Sedimentary Basin, coupled with their execution of multiple resource estimates for lithium brine resources in Western Canada, is what allows us to expedite the delivery of a resource estimate with confidence. This is an opportune time for lithium and lithium brine projects given the current supply deficits driven by the increasing adoption rate of electrified transportation and recent advancements within the area with E3 Lithium's commissioning of the first DLE plant to process lithium brines."
About the Fox Creek Lithium Brine Projects
The Fox Creek Projects are located adjacent to active exploration and development work being undertaken by Lithium Bank, namely their Boardwalk and Park Place projects. The Fox Creek Projects cover an area of 114,522 hectares and is comprised of the Fox Creek East (45,568 hectares), Fox Creek West (59,738 hectares) and Fox Creek Central (9,216 hectares) areas. The Fox Creek West Project targets the Devonian-aged reefs, including the Wabamun and the Swan Hills Formation of the Beaverhill Lake Group, which has the highest consistent lithium concentrations according to sampling data from the Alberta Geological Survey.
About Indigo Exploration
Indigo Exploration is an emerging petro-lithium brine explorer with 147,904 hectares of Metallic and Industrial Minerals 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.
On Behalf of the Board of Directors,
"Paul Cowley",
President and CEO
For further information, please contact: Paul Cowley: (604) 340-7711 Website: www.indigoexploration.com
This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
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