Indiana Resources to accelerate SA gold exploration strategy

Indiana Resources is targeting highly prospective regional gold trends in an expanded exploration program at the Central Gawler Craton project
Multiple work streams including mapping and sampling will run concurrently, with follow-up drilling also planned
Indiana fully funded to advance near-term exploration campaigns

Special Report: Indiana Resources has started a systemic exploration program over several prospective gold target areas within the 5,713km² Central Gawler Craton project in South Australia.

Indiana Resources’ (ASX:IDA) Central Gawler Craton asset, smack bang in the middle of two historical mining centres – Tunkilia and Tarcoola – has been the focus of recent gold and rare earth exploration following the discovery of high-grade REE mineralisation at the Minos prospect.

Recent RC drilling of eight holes for 576m returned high-grade clay-hosted total rare earth oxides (TREO) and magnetic rare earth oxides including 35m at 1215ppm TREO and 375ppm MREO from 42m.

With a war chest of $10m via the repayment of an intercompany loan, the explorer has plans to advance a pipeline of targets in an upcoming exploration program over the next six months, focusing on gold and the future potential of the Central Gawler Craton tenement package.

Targeted exploration set to increase over coming months

The proposed program, planned to be completed during the December quarter, has been based on a detailed review of historical data combined with existing heritage and Department of Mines approvals.

Numerous prospective areas have been identified around IDA’s Lake Labyrinth trend (including Minos), Double Dutch, Earea Dam and Moolkra prospects based on existing heritage clearances and statutory approvals under the company’s mining agreements, specifically with the Gawler Ranges and AMYAC native title agreements.

The program will follow a systematic process through several concurrent work streams such as detailed geological mapping, auger assisted calcrete sampling and geochemistry, as well as reverse circulation and RC drilling.

Drilling to uncover potential of tenement package

“With Indiana Resources now in a strong financial position, it is exciting to expand our exploration programs in South Australia with a focus on gold,” IDA executive chair Bronwyn Barnes said.

“A targeted RC and diamond drilling campaign at Minos will provide a deeper insight in the subsurface geology and validate the company’s belief in the future potential of the tenement package.

“Mapping, soil sampling and geochemistry will provide strong technical data to assist in future planning for exploration, for which the company has committed funding to the next two to three years.”

What’s on the horizon?

IDA’s field team and RC contractor will mobilise to the Central Gawler Craton project this week with an auger geochemical contractor mobilising at the end of October.

A mapping contractor will mobilise to site in November and first assay results are expected in December with strong new flow to follow for Q1 2025.

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.