Indiana Resources Limited (ASX:IDA) has reported ‘stunning high-grade’ results from follow-up RC drilling at the Minos Prospect, located within the company’s 100% owned Central Gawler Craton Gold Project in South Australia.
Key results from 16 RC drill holes include:
- Hole LLRC041: 21m @ 8.43 g/t Au from 176m including 1m @ 159 g/t Au from 185m; and 2m @ 18.4 g/t Au from 162m including 1m @ 35.6 g/t Au from 163m
- Hole LLRC035: 23m @ 6.44 g/t Au from 186m including 1m @118 g/t Au from 198m
- Hole LLRC042: 10m @ 8.83 g/t Au from 39m including 3 m @ 26.03 g/t Au from 40m
The company said that the assays confirm ‘high-grade’ mineralisation, remaining open along strike and at depth.
Assay results have been received for all 16 holes in the programme, for a total of 2,196m. Depth of drilling varied from 90m to 252m, and included a combination of infill drilling along with step-out testing of NW and SE strike extent of the Lake Labyrinth Shear Zone.
What’s next?
Indiana reports that planning is underway for expanded exploration across its 100%-owned tenement package in South Australia, with a review looking at if additional infill drilling is required in order to produce a maiden resource estimate for Minos.
The company has identified the Lake Labyrinth Shear Zone as a priority exploration target, with several drill-ready targets along a 30km strike including Minos, North Hicks, Ariadne and Partridge.
“these stunning high-grade intersections and broad widths of mineralisation confirm the results from our most recent RC drilling programme”
Management comments
Indiana Resources Executive Chairman Bronwyn Barnes said: “Minos continues to reveal itself as an exceptional gold target and these stunning high-grade intersections and broad widths of mineralisation confirm the results from our most recent RC drilling programme. Minos remains open along strike and at depth, so we believe there is still plenty of scope to grow our high-grade footprint at Minos as we move closer to establishing a Maiden JORC Resource.
Minos is one of several exciting and significantly underexplored gold targets within our extensive Gawler Craton portfolio, and with a busy exploration programme scheduled for the coming months we look forward to providing regular updates.”
Images: Indiana Resources Limited