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Indiana dresses up Minos with more high-grade gold hits
Mining
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Indiana continues to demonstrate the potential of its Minos prospect with drilling returning more thick, high-grade hits including a bonanza intersection of 159g/t gold.
While this top 1m intersection – located at a depth of 185m within a broader 21m zone, and grading 8.43g/t gold from 176m – in LLRC041 was the highlight from drilling completed in early May, it’s certainly not the only notable result.
Other results such as 23m at 6.44g/t gold from 186m including 1m at 118g/t gold from 198m in LLRC035, and 10m at 8.83g/t gold from 39m in LLRC042, served to confirm and enhance earlier intersections of significant mineralisation.
And there’s potentially more to come with Indiana Resources (ASX:IDA) noting that mineralisation at Minos remains open along strike and at depth.
“Minos continues to reveal itself as an exceptional gold target and these stunning high-grade intersections and broad widths of mineralisation confirm the results from our most recent RC drilling program,” executive chairman Bronwyn Barnes said.
“Minos remains open along strike and at depth, so we believe there is still plenty of scope to grow our high-grade footprint at Minos as we move closer to establishing a maiden JORC resource.
“Minos is one of several exciting and significantly underexplored gold targets within our extensive Gawler Craton portfolio, and with a busy exploration program scheduled for the coming months we look forward to providing regular updates.”
Drill results
The 16-hole drill program totalling 2,196m was designed to infill previous drilling and test the northwestern and southeastern extents of the Minos prospect.
Most of these holes intersected the mineralised shear zone and confirm the high-grade results intersected in the January RC program, which returned results such as 16m at 13.12g/t gold from a depth of 37m.
And as prospective as Minos appears to be, it is worth noting that it is just one of several highly prospective targets that Indiana plans to test at its Central Gawler Craton project.
Next steps
Indiana is reviewing all drill data from Minos to assess whether the drilling density is sufficient to produce a maiden resource or if further infill drilling is required.
Further geological information from the current diamond drilling program at Minos will also provide input into the proposed resource estimate.
The company is actively progressing regulatory approvals to expand its exploration activities within the Lake Labyrinth Shear Zone that contains several drill targets along a 30km strike, which is its priority focus within the project.
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.
