Indiana Resources’ diamond drilling to test for deep high-grade gold at Minos

Indiana Resources starts diamond drilling for high-grade gold at the Minos prospect
Program will deepen seven recently drilled RC holes to test the prospect’s down-dip potential
Assays from RC drilling expected in December

Special Report: Indiana Resources has started diamond drilling that will deepen some of the recently drilled reverse circulation holes in the hunt for high-grade gold at the Minos prospect within its Central Gawler Craton project in South Australia.

The 1300m program will extend seven of the 28 recently drilled RC holes to depths of between 250m and 500m to test for down-dip extensions of the Minos deposits.

Importantly for Indiana Resources (ASX:IDA), the diamond program will be the first deep drilling to be undertaken at the prospect.

Drilling is expected to be completed in February 2025 with core to be progressively cut, sampled and submitted for laboratory analysis.

Assays from the RC drilling are expected later this month.

The combined programs are designed to infill existing drilling to better define the geometry of the high-grade gold deposit, extend its footprint beyond the current 600m of known gold mineralisation, and test for down-dip extensions to gold mineralisation.

Exploration at Minos has also found high-grade REE mineralisation with drilling returning intersections such as 35m at 1215 parts per million (ppm) total rare earth oxides (TREO) and 375ppm magnet rare earth oxides (MREO) from 42m.

“I am very pleased to have joined Indiana at a time when the company has committed to aggressively expanding exploration activities across its portfolio in South Australia,” chief executive officer Lindsay Owler said.

“The gold mineralisation intercepted to date at Minos has a remarkable tenor and the current drilling campaign is exactly the type of aggressive drilling effort that can transform an exploration project into a feasibility study.

“This is the first round of deep drilling to be undertaken at Minos and I look forward to using the findings from this program to accelerate and develop Indiana’s exploration strategy going forward.”

Gold prospective

The 5713km2 Central Gawler Craton project covers the highly mineralised Lake Labyrinth shear zone while the Minos prospect consists of both a gold and REE prospect.

Other gold prospects with notable drill intercepts within the project area include Earea Dam, Ariadne, Boomerang and Double Dutch.

Additionally, significant geochemistry anomalies have been defined at Partridge and Ealbara.

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.