Indiana has its hands in the air after positive drilling spots more gold at Minos
Indiana’s drilling continues to highlight the scale of the Minos prospect within its Central Gawler Craton gold project in South Australia.
The first batch of assays from its April drill program of 14 holes confirmed shallow, continuous zones of gold mineralisation with top hits such as 14m at 2.56g/t gold from 44m and 24m at 1.41g/t gold from 37m including 1m at 16g/t gold.
While assays are still pending for another five holes, the results to date have already significantly improved Indiana Resources’ (ASX:IDA) confidence in defining a maiden resource estimate for the project.
Gold mineralisation has now been confirmed over a 600m strike length at Minos, which remains open in both directions and at depth.
“The consistent delivery of high-quality results from drilling within the Minos Prospect has been nothing short of sensational, and these latest results continue to demonstrate the potential for the area to host a mineralised system of significance,” technical director Felicity Repacholi-Muir says.
“Importantly, drilling reinforces that mineralisation identified to date commences near surface and is coherent with the clear potential to define additional mineralisation along strike.
“This provides our technical team with great confidence as we push towards defining a maiden mineral resource estimate for Minos later this year.”
The April program was designed to tighten the existing drill density within the central portion of the mineralisation defined at Minos and increase confidence levels to enable Indiana to deliver a maiden Resource estimate.
Results to date have confirmed the company’s geological interpretation and reinforces the Lake Labyrinth Shear Zone as a significant gold bearing system. Shallow gold was intersected in all sections tested during this program.
Indiana is now planning to carry out further drilling that targets the thicker and higher-grade intersections in the north-western portion of the Minos orebody.
It is also planning to expand its exploration footprint during its next drill campaign by testing additional targets along the Lake Labyrinth Shear Zone.
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.