Indico Resources Releases Positive Results for Ocaña Property

Indico Resources Ltd. (TSXV:IDI) announced assay results for eight additional drill holes of its Phase 3 program at Ocaña, Peru. Results indicate that the mineralization should be amenable to low-cost heap leach processing.

As quoted in the press release:

Three of these holes tested the outer extents of deep chalcocite mineralization in the southeast portion of the prospect. The holes intersected wide intervals of mainly chalcocite mineralization (see Figure 1) and all ended in primary (hypogene) mineralization above 0.1% Cu, most above 0.2% Cu (Table 2) demonstrating that the sulphide mineralisation continues to the north, south and east.

Indico’s CEO, Bob Baxter, said:

We are on track to deliver a PEA on the potential for an SX-EW project at Ocaña by early Q3 2014. The benefits of an SX-EW project being that copper metal can be produced on site as cathodes with up to 99.9% or higher copper content, which results in lower cost per pound of copper for transportation to market. This, together with other positive aspects of our infrastructure, including availability of power and water within a 10-15 km radius, is very positive. We expect that, based on a positive result of our PEA, we will go on to complete a feasibility study of the oxide project by Q1 2015 and make a decision on the project development at that time.

Click here to read the Indico Resources Ltd. (TSXV:IDI) press release.