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Indico Resources Reports Drill Results From Ocana Porphyry Cu-Mo-Au Project, Peru

Indico Resources Ltd. (IDI.V) today reported "encouraging" drill results from the Phase 2 drilling campaign at the Ocana Cu-Au-Mo porphyry in Arequipa Region, Peru.

In Phase 2, a total of 4733 metres were drilled in 19 holes. Based on the successful Phase 2 results, Indico plans to continue with a Phase 3 program of about 30 short (100 metre) infill drill holes at about 100-metre spacing to further delineate the supergene blanket. This program is expected to start in early 2013.

IDI shares fell 1.5 cents to $0.155 on volume of 44,500.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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