Indiana sprints ahead with thick, high-grade gold at Minos
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Indiana’s maiden drilling at its Minos prospect has struck literal gold again with assays from the final five holes returning thick, high-grade intersections.
Results such as 16m grading 13.12 grams per tonne (g/t) gold from a depth of 37m within a broader intercept of 38m at 6.54g/t gold from 29m along with 26m at 4.2g/t gold from 68m including 3m at 20.21g/t gold from 82m confirms the prospectivity of its Central Gawler Craton project in South Australia.
The first five holes had returned results such as 2m at 59 g/t gold from 106m, 3m at 18.33 g/t from 189m and 22m at 3.07 g/t from 125m.
Additionally, nine of the 10 reverse circulation holes drilled by Indiana Resources (ASX:IDA) in the recently completed program have ended in the mineralised shear zone with the Minos prospect appearing to be open along strike and at depth.
This means there is potential for drilling to further extend mineralisation.
“Our 2021 exploration campaign is off to a brilliant start and these exceptional results from Indiana’s maiden drilling program confirm the excellent prospectivity of our ground position in the Gawler Craton,” executive chairman Bronwyn Barnes said.
“These high grade intersections, and broad widths of mineralisation, have exceeded our initial expectations and we are now moving quickly to finalise our follow up RC and diamond drilling programs for the next two months.
“This is an exciting time for Indiana, and we look forward to ramping up our work programs over the coming months at several key targets within our Gawler Craton portfolio.”
Indiana’s initial focus on the Minos prospect is due in no small part to the fact that mineralisation had already been found with historical intersections such as 12m at 10.36g/t gold from 120m and 6m at 12.37g/t gold from 136m.
But that’s not all on offer at its Central Gawler Craton project.
The company’s work has identified a belt scale opportunity that has seen only limited and sporadic exploration over the past 20 years.
Minos is just the first of several highly prospective targets to be drill tested.
Other likely targets include the Ariadne prospect that is located – like Minos – within the central part of the Lake Labyrinth Shear Zone, a 30km long west-northwest/east southeast trending regional structure that is at least 50m to 100m long.
The Partridge and North Hicks prospects are located at the west-northwest and east southeast extensions respectively.
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.