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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.
Indicator identifies new molybdenum zone at Mohave
Indicator Minerals (CVE:IME) said Monday it has found a new molybdenum zone at its Mohave project in northwestern Arizona.
The company announced the results for holes five through eight of its 11 hole first phase program at the copper-molybdenum-silver porphyry property.
"The results from these four holes further demonstrate that there is a large mineralized system present at Mohave and reinforces our belief that the property may host an economic deposit," said president and CEO, Bruce Counts.
"Our strategy of initially drilling widely spaced holes on the property within the 1800 acre chargeability anomaly has been successful and identified an exciting new molybdenum area with the first hole drilled in the Cupola Zone, north of the Central Monzonite Complex."
Highlights include hole MV11008, the first hole collared in the Cupola Zone and drilled to a depth of 324.9 metres, which included an intercept of 0.45 g/t silver and 0.011% molybdenum over 189.8 metres.
Significantly, the hole was the first to test a 2.5 km west-northwest trending molybdenum soil anomaly, located along the northern contact of the Central Monzonite Complex.
In addition, hole MV11005, located in the eastern extremity of the Rio Verde Zone, intersected 27.5 grams per tonne (g/t) of silver over 1.2 metres and 0.01% of molybdenum and 0.51 g/t silver over 24.1 metres.
Meanwhile, holes MV11006 and 11007, located roughly 850 metres north of hole 11005, returned 0.50 g/t silver and 0.032% molybdenum over 2.1 metres, and 15.3 g/t silver over 0.15 metres, respectively.
Indicator's 2011 drill program is being conducted in two phases, with the recently completed first phase intended to test a number of targets identified through geophysical surveys, rock and soil sampling and mapping. The second phase of drilling will build on these results, planned to start in the fourth quarter.
The 11 holes in the first phase were drilled to depths of up to 390 metres, for a total of 3,500 metres, with all holes intersecting anomalous mineralization over wide intervals, the company said. Results from the remaining three holes are due out shortly.
