Golden days for Indiana with high-grade hits in South Australia

Significant results have been returned from June 2024 RC drilling at Minos
Up to 25.9g/t gold with the main zone intersected
Further RC drilling planned at Minos for September

Special report: Results of a June reverse circulation drilling program have returned significant gold grades up to 25.9g/t with multiple target zones intersected.

Indiana Resources (ASX:IDA) owns 5,713km2 of exploration tenure in South Australia’s Gawler Craton, one of Australia’s oldest and largest geological provinces, right in the middle of two historic mining centres – Tunkillia and Tarcoola.

A total of five holes were drilled for 732m at the Minos prospect in June, with the program primarily designed to test the previously identified north-west parallel zone and tighten the existing drill density of the main Minos mineralisation.

So far, drilling activities have outlined a 600m strike extent of shallow, near-surface gold mineralisation that remains open in all directions.

Strong results with further drilling planned

IDA believes the latest results confirm the company’s geological interpretation and reinforces the Lake Labyrinth Shear Zone as a major gold bearing system, with intersections including:

26m at 1.66g/t Au from 33m, including 1m at 10.1g/t Au from 35m
6m at 5.26g/t Au from 43m, including 1m at 17.3g/t Au from 44m; and
3m at 10.3g/t Au from 68m, including 1m at 25.9g/t Au from 69m.

IDA is fully funded and ready to carry out further drilling in September at Minos as well as the broader Lake Labyrinth Shear Zone project area.

Indiana, Resources, Gold, Results — Significant drilling results from Minos. Pic: IDA

Strong news flow over coming months

“Minos continues to deliver strong, high grade gold results that demonstrate parallel lode repetitions across strike and to the south of the prospect area and remains open in all directions,” IDA executive chair Bronwyn Barnes said.

“We will now be accelerating exploration activity at Minos, and across the broader LLSZ project area, over the coming months.

“Assay results for REE and at Hopeful Hill remain outstanding – as we ramp up exploration activity we expect strong news flow in the foreseeable future.”

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.