USD $4,127.96
Goldman High-Grade Intercepts Targeted in South Australia
Indiana Resources Limited (ASX:IDA) has resumed diamond drilling at its Minos Gold Prospect, located in South Australia’s 5,713 km² Gawler Craton project. The program aims to test high-grade extensions to the primary gold mineralisation zone.
The current campaign will extend 7 of the 28 reverse circulation (RC) drill holes completed in November 2024, targeting down-dip extensions to depths between 250m and 500m. Drill core analysis from the first completed tail is underway, with results expected progressively. The diamond drilling program is expected to conclude by February 2025.
Notably, the RC program returned standout assays, including:
- 8m at 8.90g/t gold from 208m (hole 24LLRC008), representing a high-grade intercept at the down-dip extension of the main gold zone.
The Minos gold system, currently delineated over a 650m strike length, is supported by recent results indicating significant expansion potential.
Indiana reports a strong cash position of $23 million, ensuring robust funding for ongoing exploration activities in South Australia.
Lindsay Owler, CEO, commented:
With the Australian dollar gold price at an all-time high and an ongoing drilling campaign expanding on a string of impressive gold intercepts, Indiana is perfectly placed to deliver continued exploration success to the market at the right time.
Additional assay results from drilling completed last November are due in January 2025, and current diamond drilling is testing expected extensions to high-grade gold zones at Minos in South Australia.
Indiana’s systematic development of Gawler Craton gold targets will allow the Company to target a broader resource base and will benefit shareholders via a flow of drilling results throughout the coming year.
