Indiana Resources deepens Minos economic potential with 44.9g/t result

• IDA hits up to 44.9g/t gold at Minos deposit in the Gawler Craton project
• Follows gold up to 45.8g/t earlier this year, along with titanium host rock
• Plan to complete more drilling to release a maiden resource estimate

Special Report: Indiana Resources has received down-dip grades of up to 44.9g/t gold at the Minos deposit of its Gawler Craton project in South Australia.

This bonanza-grade result follows one earlier this year of 45.8g/t.

Diamond drilling at the Minos Main Zone extending seven RC holes was completed and this has extended the zone to 380 metres below surface with a strike length of 650m. Notable intercepts include:

• 05m at 2.62 g/t gold from 151.95m
• 19m at 0.99g/t from 167m;
• 2m at 25.85 g/t from 351m; and
• 1m at 1.67 g/t from 137.9m.

The plan now is to complete further RC drilling in late April followed by diamond drilling to work toward a maiden resource estimate.

The project sits between the historical gold mining centres of Tunkillia and Tarcoola, and as well as gold, is also prospective for titanium and rare earths.

Indiana Resources (ASX:IDA) also discovered several occurrences of the Muckanippie Suite Anorthosite (the source rock for the Rosewood deposit) at the Carne prospect where drilling returned up to 8m at 1.3% titanium from 12m.

Titanium dioxide feedstocks are seeing growing demand from technology and defence applications such as electric vehicles, battery storage, wind turbines and as a steel alloy and even in pigments.

Big boost to economic potential

Indiana said the new gold intercepts significantly added to the potential for an economic mining operation at Minos.

“The success of this deep diamond drilling program is resounding. The maximum known extent of the Minos gold deposit has nearly doubled from 200m below the surface to 380m,” CEO Lindsay Owler said.

The significance of these intercepts has given the company the confidence to progress Minos to a JORC resource.

“The company will now fast-track plans to recommence RC and diamond drilling at Minos in order to test extensions to the gold deposit in all directions.

“The team will be on site from April 28, 2025 for a major drilling campaign that is expected to continue until August 2025.”

A drilling program comprising 27 holes is planned, totalling approximately 7,000m.

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.