Indiana Resources (ASX:IDA) reports the presence of a new ‘significant’ gold bearing system following a reverse circulation (RC) drilling program at its 100% owned Central Gawler Craton Gold Project in South Australia.
The results, generated by 17 drillholes, have confirmed the existence of a new ‘significant’ gold bearing system within the Lake Labyrinth Shear Zone (LLSZ) and have also confirmed gold mineralisation to be situated over a 600m strike length within the Minos prospect.
The identified gold mineralisation within the Minos prospect is reported to remain open at depth and along strike in both directions, with key results including 10m at 4.40g/t Au from 123m including 2m at 17.70g/t Au from 123m (LLRC102) and 1m at 28.3g/t Au from 169m (LLRC098).
Results received from the drilling program confirm the company’s geological interpretation and reinforces the LLSZ as a ‘significant’ gold bearing system.
Recent RC drilling conducted in August of this year was designed to extend the mineralised envelope by testing the extension of the known strike towards the northwest and tighten the existing drill density of the Minos prospect mineralisation.
Commenting on the results, Indiana Resources Chief Executive Officer, Richard Maish said: “Outstanding drill results continue from RC programs at Minos underlining the consistency of gold mineralisation in what we believe to be a large system that remains open along strike and at depth.
“These results demonstrate that the system at Minos continues to deliver ‘high-grade’ results and that the LLSZ has the potential to host a large ‘significant’ gold bearing system.”
These results demonstrate that the system at Minos continues to deliver ‘high-grade’ results and that the LLSZ has the potential to host a large ‘significant’ gold bearing system. We look forward to furthering our understanding of this historically underexplored region in the future.”
Indiana Resources also notes that the new zone of ‘high-grade’ Au mineralisation is situated at the northwest end of the Minos prospect and remains untested on adjacent sections.
Meanwhile, 2 drillholes (LLRC099/100) completed at the Ariadne prospect were designed to test the orientation of the gold mineralisation depth identified from historical workings and have warranted further geological mapping in order to guide further exploration.
Indiana Resources is a gold exploration company focused on advancing its portfolio of exploration tenements in the ‘highly prospective’ Central Gawler Craton Gold Province in South Australia. The company’s Central Gawler Craton project is located in South Australia and comprises several ‘highly prospective’ targets that cover a total land area of 5,713km-square, including Minos prospect, North Hicks prospect, Ariadne prospect, Partridge prospect and the LLSZ.
The LLSZ represents a major regional structure that the company believes to have acted as a pathway for ore forming fluids that produced mineralisation at the Minos and Ariadne prospects and may potentially host additional zones of gold mineralisation. Indiana Resources currently owns 100% interest in all associated tenements for the project.
With results from the August RC drilling program now received. Indiana Resources announces it will move forward with further RC drilling at the Minos and Ariadne prospects, which is scheduled for early December this year.
Images: Indiana Resources Ltd
