Indiana Resources’ latest diamond assays reveal gold continuity at Minos

Three reverse circulation (RC) drill holes (LLRC027, LLRC028, and LLRC045) were extended with diamond tails in July with assays now received for LLRCD028.

Indiana Resources’ (ASX:IDA) second batch of results have been received for diamond drilling at the Minos prospect within the wider Central Gawler Craton Gold Project in South Australia.

Results demonstrate a continuity of mineralisation on Section 10560 with highlights including:

26m at 3.58g/t gold from 76m, including 2m at 18.9g/t gold from 92m;
5m at 1.08g/t gold from 158m; and
2m at 1.88g/t gold from 152m.

‘An exceptional gold target’

Indiana Resources says the results confirm and infill earlier intersections of mineralisation returned above and below the target zone and expects the remaining diamond tail results to be received within the next 2-4 weeks.

IDA executive chairman Bronwyn Barnes said Minos “remains one of our priority areas and these assay results confirm that Minos is an exceptional gold target.”

Minos remains open along strike and at depth with the current RC drill program designed to test the extension of the mineralised zone.

Background

Indiana acquired the Central Gawler Craton Gold Project in late 2020 before undertaking exploration activity in early 2021.

The tenement package comprises 5,713 sq km and IDA believes there remains several other high potential targets within the tenement portfolio.

The company is working through land access requirements in order to expand its exploration footprint in the region, which IDA says “has outstanding potential for the discovery of significant gold deposits as indicated by the Tunkillia Gold Project adjoining the company’s tenements.”

Tarcoola, a historical mining centre also adjoins the northern edge of the tenements, where historic production and current resources total around 93,000 ounces.

Both Tarcoola and Tunkillia are now owned by Barton Gold Holdings (ASX:BGD).

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.