Results from the December program reinforces the Labyrinth Shear Zone as a major gold-bearing system. Pic: Getty Images
Exploration upside for Indiana Resources as drilling at Minos returns up to 95.6g/t gold
Mining
share
A program of 10 reverse circulation holes for 1,668m has returned high-grade gold results at the Minos prospect, paving the way for more exploration activity in 2023.
Indiana Resources (ASX:IDA) has now verified, in two back-to-back programs, the potential for parallel lode repetitions across strike to the south at the Minos prospect, within the wider Central Gawler Craton Gold Project.
The program was designed to test the previously identified northwest parallel zone and tighten the existing drill density of Minos mineralisation.
IDA says the holes targeted at the new parallel structure intersected more high-grade gold mineralisation, strengthening confidence in the continuity of gold zones within the Lake Labyrinth Shear Zone (LLSZ).
Standout results returned from the December 2022 RC drilling include 12m at 9.06g/t gold from 106m, including 1m at 95.6g/t gold from 109m, 13m at 5.95g/t gold from 110, including 1m at 34g/t gold from 111m and 1m at 21.4g/t gold from 114m.
A major gold-bearing system
“I am delighted with the excellent high grade gold results, significant intercept widths and strike rate achieved from this 10-hole program,” IDA CEO Richard Maish says.
“There exists enormous potential for Indiana to expand exploration activity at Minos and the broader LLSZ, which we will actively pursue in 2023.”
As well as confirming the company’s geological model, the results from the December program reinforce the LLSZ as a major gold bearing system.
Drilling to date has outlined a 600m strike extent of shallow, near-surface gold mineralisation with intersections in drill holes LLRC113 and LLRC115 confirming a new zone of mineralisation that remains open.
Plan ahead
Indiana is planning to recommence RC drilling in the April quarter at Minos to increase the understanding of the scale of the LLSZ potential.
Auger soil geochemistry in the Minos-Ariadne corridor is also planned to test both across and along strike for additional drill targets.
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.
