Indico Provides Update on Ocaña Cu-Au-Mo Porphyry Drilling Campaign in Southern Peru

Indico Resources Ltd. is pleased to provide an update on the Phase 2 drilling campaign at the Ocaña Cu-Au-Mo porphyry in Southern Peru.

The Phase 2 programme is testing the maximum thickness and grade of sulphide and oxide supergene mineralization intersected by two holes in Phase 1, delineating higher-grade hypogene zones that occur mainly within the breccia target at the centre of the system, and delimiting the southern and eastern edges of both hypogene and supergene mineralization.

To date, 2017 metres of the planned 4400 metre minimum have been completed in 6 holes from 5 platforms spaced roughly 200 metres apart (Figure 1). Drilling is on schedule to be completed by early December. All holes reached their target depth or were continued deeper due to encouraging mineralization. For logistical reasons, several holes targeting hypogene mineralization have been drilled ahead of the peripheral holes that mainly target supergene oxide mineralization. However, based on intersections in three of the holes (OCADH004, 5 & 6), the supergene oxide target limit has been expanded into the centre of the system. All assay results are pending.