Indiana dresses Minos with more high quality gold hits

Indiana continues to demonstrate the potential of its Minos prospect with drilling returning thicker, higher grade hits, including a bonanza intersection of 159g / t gold.

Although this 1m upper intersection – located at a depth of 185m in a wider zone of 21m and grading 8.43 g / t gold from 176m – in LLRC041 was the culmination of drilling carried out in early May, this is certainly not the only notable result.

Other results such as 23 m at 6.44 g / t gold from 186 m, including 1 m at 118 g / t gold from 198 m in LLRC035, and 10 m at 8.83 g / t gold from 39 m in LLRC042, was used to confirm and improve previous intersections of significant mineralization.

And there is potentially more to come with Indiana Resources (ASX: IDA) noting that the mineralization at Minos remains open along strike and at depth.

“Minos continues to prove to be an exceptional gold target and these astonishing high grade intersections and wide widths of mineralization confirm the results of our most recent RC drilling program,” said Executive Chairman Bronwyn Barnes.

“Minos remains open along direction and at depth, so we believe there are still many opportunities to expand our high grade footprint at Minos as we move closer to establishing a first JORC resource.

“Minos is one of many exciting and significantly under-explored gold targets within our extensive Gawler Craton portfolio, and with a busy exploration program planned for the coming months, we look forward to providing regular updates. . “

Indiana Resources Gold Concentrate Mines
Pan concentrates showing gold and sulphides. Photo: Supplied

Drilling results

The 16 hole drilling program totaling 2,196 m was designed to complement previous drilling and test the northwest and southeast reaches of the Minos prospect.

Most of these holes intersected the mineralized shear zone and confirm the high quality results cross-referenced in the January RC program, which gave results such as 16 m at 13.12 g / t gold at a depth of 37 m.

And as forward-looking as Minos may be, it’s worth noting that this is just one of many very promising targets Indiana plans to test on its Central Gawler Craton project.

Next steps

Indiana is reviewing all of Minos’ drill data to assess whether the drilling density is sufficient to produce a first resource or whether further infill drilling is required.

Other geological information from the current diamond drilling program at Minos will also provide data on the proposed resource estimate.

The company is actively advancing regulatory approvals to expand its exploration activities in the Lake Labyrinth shear zone which contains multiple drill targets along a 30 km strike, which is its priority objective in the project.

This article was developed in conjunction with Indiana Resources, an advertiser for Stockhead at the time of publication.

This article does not constitute advice on financial products. You should consider getting independent advice before making any financial decisions.

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