Maiden drilling at the Ariadne prospect has returned gold hits. Pic: via Getty Images
Indiana’s Ariadne gold hits are just the tip of the iceberg
Mining
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Indiana continues to prove up the potential of the Lake Labyrinth Shear Zone at its Central Gawler Craton project with drilling confirming the presence of gold at the Ariadne prospect.
The maiden reverse circulation program, which focused on the centre of the known gold mineralised zone where most historical drill holes were only assayed as 4m composites, returned results such as 10m grading 2.24 grams per tonne (g/t) gold from 9m and 5m at 3.59g/t gold from 49m.
Importantly for Indiana Resources (ASX:IDA), the intersected alteration is the same as that found at the Minos prospect, indicating that both prospects are the result of the same mineralising event.
“The Ariadne and Minos Prospects represent less than one kilometre of strike length along the Lake Labyrinth Shear Zone, with as much as 30km of strike length yet to be drill tested,” executive chairman Bronwyn Barnes said.
“The geophysical signature, historical workings and repeated occurrences of gold mineralisation along the structure provide Indiana with an exciting area to explore.”
“We have a drill rig booked to return to the Central Gawler Craton Gold Project in early 2022 to expand on our exploration of the Lake Labyrinth Shear Zone.”
Ariadne prospect
Indiana drilled 12 holes totalling 1,379m at the Ariadne prospect to further advance the geological understanding of the nature and geometry of the mineralised zone.
Ariadne is about 800m southeast of Minos with historical workings lying to the south of the Lake Labyrinth Shear Zone and area of drilling.
It has experienced limited drilling to date, with previous drilling designed to evaluate a gold-in-soil anomaly returning 29m at 1.61g/t gold from a depth of 23m.
Additional drilling intercepted gold mineralisation and favourable alteration within a strike length of 400m.
Mineralisation remains open in both directions along strike and at depth.
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.
