Indiana Resources’ RC drilling extends Minos gold mineralisation

• Drilling returns 21m at 2.31g/t gold from 115m including 8m at 4.67g/t
• Minos mineralisation extended 60m southeast with holes representing deepest drilling to date on respective sections
• Company awaiting remaining RC assays and assays from diamond drilling, prepares for aircore drilling

Special Report: Extensional drilling at Indiana Resources’ flagship Minos gold project within the broader Gawler Craton project in South Australia continues to deliver the goods.

Further strong intersections achieve the program’s goal of extending known gold mineralisation at Minos to the southeast and northwest.

Assays from 25 of the 27 reverse circulation holes returned results topping up at 21m grading 2.31g/t Au from a down-hole depth of 115m including 8m at 4.67g/t from 128m in hole 25LLRC006.

Notably for Indiana Resources’ (ASX:IDA), the extensional drilling at the southeastern end of Minos intersected consistent mineralisation, infilling and extending the mineralised footprint a further 60m in that direction.

Holes 25LLRC004, 25LLRC006 and 25LLRC007 in this area also represent the deepest drilled to date on their respective sections, with mineralisation remaining open at depth.

“Our ongoing and well-funded exploration program within the Gawler Craton is aimed at growing the Minos gold project,” managing director Matthew Bowles said.

“These latest results continue to extend mineralisation at Minos and we are looking forward to receiving further assays, including the diamond drilling targeting high-grade at depth.

“We are also expanding our exploration focus with a major aircore drilling program to test multiple compelling targets along the Lake Labyrinth Shear structural shear which hosts the Minos prospect.”

Minos project

The company holds more than 5700km2 of ground in South Australia’s Gawler Craton that sits between the historical gold mining centres of Tunkillia (965,000oz resource) and Tarcoola (15,800oz resource).

Minos is hosted within the fertile Lake Labyrinth Shear Zone which extends over 50km of strike.

Mineralisation has been outlined over a strike length of 650m and to depths of 380m with previous drilling having returned results like 38m at 6.54g/t gold from 124m and 21m at 8.43g/t from 75m.

Regional sampling across the Gawler Craton has also identified new gold-in-calcrete anomalies across the fertile Lake Labyrinth Shear Zone (LLSZ), including a large 6.5km x 800m coherent gold-in-calcrete anomaly at the Ealbara prospect.

Next steps

IDA is currently awaiting assays for the remaining two reverse circulation holes as well as assays from diamond drilling that had targeted potential high-grade plunge orientations at depth within the mineralised system.

Results from the drilling will be incorporated into the geological model to refine follow up drilling and targeting in the Minos – Ariadne Trend.

The company is also preparing to start a broad-spaced aircore program of ~5000m in mid-October to test a number of gold targets along the Lake Labyrinth Shear Zone and Company Well area.

A priority of this program is following up on excellent gold in calcrete results from the recently completed regional sampling program over the Minos, Ariadne and Company Well prospects.

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.