Indiana on the path to a maiden resource as drilling wraps up at Minos
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Indiana has finished diamond drilling at the Minos prospect, part of its 5,090 km2 Central Gawler Craton Gold Project in South Australia.
Three diamond holes were completed totalling 593m, with results expected in 4-6 weeks.
Indiana Resources (ASX:IDA) also completed regional aircore/slimline RC drilling (79 holes for a total of 4,494m) along the Lake Labyrinth Shear Zone (LLSZ) with initial results expected in early August.
The company believes that the LLSZ may potentially host further zones of gold mineralisation – and it will be a major focus of future exploration.
Indiana will review all of the drilling data for Minos – including historical drilling – to assess whether the drilling density is sufficient to produce a maiden resource estimate or further infill drilling is required.
“Following the fantastic high-grade gold results received from RC drilling at Minos we are pleased to have completed air core and diamond drilling programs at this exceptional gold target,” executive chairman Bronwyn Barnes said.
“Minos remains open along strike and at depth and we look forward to receiving the results from the AC drilling in late July, along with the sampling of the diamond core, as we transition towards establishing a Maiden JORC Resource.”
Indiana has identified multiple, potentially high-grade targets within its extensive tenement portfolio and is progressing land access requirements to expand its exploration footprint in the region.
Barnes said planning is underway for expanded exploration activities.
“Minos is one of several exciting and significantly underexplored gold targets within our extensive Gawler Craton portfolio, and we are currently reviewing our exploration plans for the remainder of the year with the intention of expanding our program to test other exciting prospects within our strategic holding,” he said.
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.