Indiana Resources delivers up to 45.8g/t in Minos gold drilling

IDA reports assays up to 45.8g/t gold from RC drilling at the Gawler Craton project
Drilling also defined the new high-grade Southwest zone
Company currently undertaking diamond drilling

Special Report: Indiana Resources says RC drilling at the Minos gold prospect at its Gawler Craton project in South Australia last year has confirmed a new high-grade gold zone returning up to 45.8g/t gold.

The company’s tenements in the Gawler Craton are smack bang between the historic gold mining centres of Tunkillia (965,000-ounce gold resource) and Tarcoola (15,800-ounce gold resource).

However, gold isn’t the only commodity at play, with the Minos prospect featuring two adjacent mineralised zones – the Minos gold prospect and the Minos rare earths prospect.

The company is now focused on enlarging the Minos gold prospect where gold mineralisation has previously been intercepted over a strike length of 650m with a high-grade highlight of 8m at 8.90g/t gold from 208m, to end of hole.

Now, the latest RC drilling has flagged a new high-grade gold zone – dubbed Southwest.

Notable intercepts from new zone include:

8m at 6.76 g/t gold from 174m, including 1m at 45.8 g/t gold from 174m; and
15m at 4.14 g/t Au from 82m, including 1m at 11.0 g/t gold from 84m and incl. 2m at 11.8 g/t gold from 94m.

The Main Zone returned new intercepts of:

10m at 4.95 g/t gold from 112m, including 1m at 27.8 g/t gold from 114m;
13m at 3.1 g/t gold from 196m, including 1m at 10.4 g/t gold from 199m and 1m at 13.2 g/t gold from 201m; and
8m at 11.6 g/t gold from 78m, including 3m at 24.9 g/t gold from 78m.

Gold mineralisation at the Main Zone has now been intercepted over a strike length of 650m and extends to more than 200 metres below surface.

Looking to establish a maiden resource

The next step for the company – beyond the current diamond drilling program underway – is to establish a resource at the project.

“We are delighted by these latest drill hits from Minos, which continue to expand the footprint of the Minos gold deposit by confirming the high-grade tenor of the new southwestern gold zone,” Indiana Resources (ASX:IDA) CEO Lindsay Owler said.

“Given the high-grade nature of these results and potential upside, additional drilling of this zone is now a high priority for Indiana’s 2025 exploration program as we build towards establishing a maiden resource.

“Pleasingly, recent drilling has confirmed the continuity of gold mineralisation along the 650m Main Zone strike and to a current depth of more than 200m.

“The company also has good reason to push Minos drilling outwards to the northwest after generating several excellent new intercepts in that direction.

“Supported by a strengthening gold price, we have hit the ground running in 2025 with an aggressive exploration program underway.

“The coming months continue to shape as an exciting period for Indiana on the exploration front with a strong news flow anticipated as we progress.”

An extensive regional auger drilling is also underway at Partridge, Minos, Ariadne and Company Well, and field mapping at Minos, Ariadne and Partridge, along with Earea Dam, Double Dutch and Moolkra prospects.

IDA says these programs are a significant undertaking that demonstrate the company’s commitment to build on its existing discoveries of high-grade gold and rare earth elements at Minos.

And the company is cashed up to follow through on its promises, with a current cash balance of $23m to support its exploration plans in the state.

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.