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Additional Information
Market: TSX-V
Sector: General Mining - Diamonds & Gemstones
EPIC: IME
Latest Price: C$0.01  (0,00%)
52-week High: C$0.26
52-week Low: C$0.01
Market Cap: C$1.33M
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Indicator Minerals Inc.
www.indicatorminerals.com/s/Home.asp

Indicator Minerals Inc. (TSXV: IME) is a Canadian exploration company focused on the discovery and development of economic mineral deposits.

Founded in 2004, the company has assembled one of the most qualified technical teams in worldwide exploration. Management has quickly positioned Indicator to be a sophisticated player in both Canadian and international exploration by forming strategic partnerships, acquiring highly prospective properties and conducting systematic and efficient exploration programs.

Full Indicator Minerals Inc. profile here
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Indicator Minerals options 60% of Barrow to Diamonds North Resources

30th Mar 2011, 6:12 pm by Deborah Sterescu

Indicator Minerals (CVE:IME) said Tuesday it has optioned its Barrow property in the Pelly Bay diamond region in Nunavut to Diamonds North Resources (CVE:DDN).

Under the agreement, Diamonds North can earn a 60% interest in the diamond rights on the property by spending $2.0 million over five years. The company's shares rose more than 6.6% on Tuesday to trade at $0.16 as of 10:02am EST.

The Barrow property is next to Diamonds North's Amaruk claims, where a total of 25 kimberlites have been discovered. Kimberlites are a type of volcanic rock best known for  containing diamonds.

"This transaction provides access to a larger, prospective geological area to test a new generation of kimberlite targets," said president and CEO of Diamonds North, Mark Kolebaba.

Diamonds North will be the operator of the project during the earn-in period, and will remain operator provided it holds the largest single interest in the property.

Indicator is exploring for diamonds on more than 2.3 million acres of ground in the Eastern Arctic of Canada. It owns an 80% interest in the diamond rights of several properties, acquired from Hunter Exploration Group, including Darby, Barrow, Nanuq North and Grail.

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