Indiana REE project SA

Indiana Resources soars as it confirms REE mineralisation within Central Gawler Project, SA

Indiana Resources (ASX:IDA) has confirmed rare earth elements (REEs) mineralisation within its 100% owned Central Gawler Project in South Australia.

The company reports that a review of previous drilling results highlighted the prospectivity for clay hosted ionic type REE in the regolith.

An initial batch of sample pulps from six holes drilled in 2021 were submitted for the full suite of light and heavy rare earth elements (Total REE) in which significant values up to 15,486ppm (1.55% TREO) were returned.

Indiana’s share price was up 32% to $0.066 as of 10.30am AWST.

The results … provide confidence to test the various rare earth targets indicated by this historical drilling

Indiana reports the results not only confirm and enhance the values indicated by the previously reported historical partial REE assay data but also provide confidence to test the various rare earth targets indicated by this historical drilling over the broader project area.

Given these previous programs were focused on gold, were largely non-systematic in regard to ionic clay hosted REE exploration and of limited extent, the frequency with which rare earth accumulations were intersected is promising, the company reports.

The company has started to collect additional data to define the distribution of the different rare earths in the weathering profile. It will also seek to identify any underlying potential bedrock lithological or structural controls on the distribution of the mineralisation.

Indiana is an Australian-based gold exploration company focused on advancing its portfolio of exploration tenements in the ‘highly prospective’ Central Gawler Craton Gold Province in South Australia.

Indiana’s ground position in the Gawler Craton covers 5,090 km-square – with the Company’s tenements strategically located between the historic gold mining centres of Tunkillia and Tarcoola.

The Central Gawler Craton has ‘outstanding’ potential for the discovery of significant gold deposits, as indicated by the Tunkillia deposit (588,000 ounce gold resource), which adjoins the southern edge of Indiana’s portfolio and the historical mining centre of Tarcoola, which adjoins the northern edge of Indiana’s portfolio, where historic production and current resource total approximately 190,000 ounces.

Images: Indiana Resources Limited
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Written By Adam Orlando Editor-in-Chief Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Orlando has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.