Indiana is unlocking its Minos riches with drilling returning thick gold mineralisation with high-grade zones.

Assays from the first five holes from its December reverse circulation drill program returned outstanding results such as 21m grading 3.14 grams per tonne (g/t) gold from a depth of 75m including 1m at 19.7g/t gold and 1m at 21.8g/t gold and 25m at 2.42g/t gold from 140m including 2m at 14.85g/t gold.

Gold mineralisation has now been confirmed over 600m of strike at Minos with Indiana Resources (ASX:IDA) noting that the results reinforce its interpretation that the Lake Labyrinth Shear Zone is a significant gold bearing system.

The company is certainly not done with Minos given that it remains open along strike in both directions and at depth.

Drill data also continues to define high-grade zones while assays are pending for the remaining 10 holes in the program.

“Drilling at Minos continues to return highly encouraging zones of gold mineralisation, which supports our theory that Minos is a continuous orebody, remaining open both along strike and at depth,” technical director Felicity Repacholi-Muir said.

“Each program completed across our Lake Labyrinth Shear Zone targets has returned impressive gold results and highlighting the strong potential for a much larger gold system to be hosted.

“We look forward to resuming our aggressive exploration campaign as soon as heavy vehicle access to our tenements is permitted following the rain event in South Australia earlier this year.”

The drill program was aimed at tightening the existing drill density, defining some of the known high-grade zones and extending some known lodes at depth.

More results imminent ahead of further exploration

Indiana is currently waiting on assay results from the calcrete sampling program that it completed in December across the Partridge, Earea Dam and Ealbara prospects.

This is expected to identify further gold anomalies, mineralisation trends and assist with drillhole targeting.

The company added that while it had planned to recommence drilling at Minos last month, this was delayed due to the unusually high rainfall in central South Australia that damaged major roads and railway lines.

Drilling over Minos and other key targets within its Central Gawler Craton Gold Project will resume once access is restored.




This article was developed in collaboration with Indiana Resources, a Stockhead advertiser at the time of publishing.


This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.