Gold fit for a king: Indiana kicks off drilling at Minos

Indiana Resources has started a 15-hole drilling campaign on its Central Gawler Craton exploration projects in South Australia
A 5 hole RC drilling program is designed to extend the 600m strike length of high-grade gold mineralisation at Minos
An aircore drilling program of 8-holes will aim to extend known REE mineralisation and provide further material for metallurgical test work
A 3 hole RC drilling program at the Hopeful Hill to follow up a numbed of targets identified following the completion of the HeliTEM survey

Special Report: A 5-hole drilling program targeting gold and REE mineralisation is underway at the Minos prospect within Indiana Resources’ Central Gawler Craton exploration project (CGCP).

Indiana Resources (ASX:IDA) extensive ground position in South Australia’s Gawler Craton covers 5,713km² of exploration ground located between the historic gold mining centres of Tunkillia and Tarcoola.

The explorer benefits by its positioning in a tightly held region, known for gold but with exciting REE opportunities.

During the March quarter, IDA continued to advance plans for follow-up field exploration and narrowed in on its beneficiation work on select clay-hosted rare earth samples sourced from the Minos prospect.

This work produced encouraging initial outcomes, including a 4.2% total rare earth oxide (TREO) concentrate with 1.8% magnetic rare earth oxide (MREO), which are prized for their use in manufacturing permanent rare earth magnets – a key component in EV motors and wind turbines.

Indiana gets back to drilling

Having extensively reviewed historic results across the South Australian tenement package, IDA is back on the ground drilling at its Minos prospect.

The program has been designed to extend and confirm the known gold and REE target zones at Minos, as well as a parallel structure located at the northwest end of Minos intersected in earlier drill campaigns.

To date, the explorer has outlined a 600-metre strike extent of shallow, near-surface high grade gold mineralisation with results returning 38m at 6.54 g/t gold from 29m, including 16m at 13 g/t gold from 37m and 21m at 8.43 g/t gold from 176m.

Over at another exciting prospect, Hopeful Hill in the southern portion of IDA’s CGCP, an RC drilling program comprising 3 holes for ~600m will be carried out on a number of drill targets identified in a 2022 HeliTEM survey.

Results to drive next phase of exploration in the Gawler

“Results from this campaign will support the expansion of our exploration program for the remainder of the year as we continue to focus on the REE and gold mineralisation at Minos,” IDA executive chair Bronwyn Barnes says.

“We are also very pleased to have received further exploration approvals from the Government of South Australia, which will enable us to advance activities at high priority areas of Moolkra, Double Dutch and Hopeful Hill.

“These target areas host historic high grade gold intercepts which we have been unable to access until now,” she says.

“We will now progress discussions with native title parties to support land access and progress technical work to plan future exploration programmes at these areas”.

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.