Indiana Resources Limited’s (ASX: IDA) initial technical review of historical drill intercepts has highlighted the potential for Rare Earth Elements (REE) mineralisation to be hosted within Indiana’s 100% owned 5,713 sq. km Central Gawler Project in South Australia.
The Gawler Craton has recently attracted interest for ionic adsorption clay-hosted rare earth element (‘ionic REE’) opportunities, including Petratherm Limited’s recent exploration success with the discovery of REEs within a prospective clay horizon at its Comet Project. The Petratherm project abuts Indiana’s northern tenements.
“This is an exciting development for Indiana as our initial review of historical assays, highlights the clear potential for ionic REE mineralisation,” – Technical Director, Felicity Repacholi-Muir, said.
“The assays are only for three common REE elements considered to be geochemical indicators for IOGC copper-gold deposits. They are clearly anomalous opening up the REE potential for other areas of our extensive Central Gawler Project area.
“It is important for us to analyse for the other 12 rare earth elements, including the critical ‘magnet metals’ – Nd, Pr, Tb and Dy to determine the enrichment of these elements in the weathered clay profile.
“Fortunately we are able to access our extensive sample-pulp inventory to assay for the full REE suite. Our Central Gawler Craton Project has already demonstrated its clear potential to host a significant gold mineralisation system and we are now eager to unlock further value from this asset through the review of potential REE mineralisation.
“We look forward to providing shareholders with further updates as we advance this opportunity.”
Ionic REE deposits offer the potential for large scale and low-cost mining compared to hard rock REE deposits. Until recently, there has been limited exploration for this style of REE mineralisation outside of China, however exploration for this style of REE mineralisation is now underway in various parts of Australia and the United States of America.
For further information please visit: https://indianaresources.com.au/