Indiana Resources Limited (ASX: IDA) has obtained further high-grade results from assaying of the follow-up Reverse Circulation drilling programme at the Minos Prospect located within Indiana’s 100% owned 5,090 sq. km Central Gawler Craton Gold Project in South Australia.
Assay results have now been received for all 16 holes completed for a total of 2,196m varying in depth from 90m to 252m.
Executive Chairman, Bronwyn Barnes, said the programme was designed to infill the existing drill pattern and test the NW and SE strike extent of the known mineralised zone within the Lake Labyrinth Shear Zone (LLSZ). The results confirm and enhance earlier intersections of significant mineralisation intercepted.
“Minos continues to reveal itself as an exceptional gold target and these stunning high-grade intersections and broad widths of mineralisation confirm the results from our most recent RC drilling programme,” she said,
Minos remains open along strike and at depth, so we believe there is still plenty of scope to grow our high-grade footprint at Minos as we move closer to establishing a Maiden JORC Resource. Minos is one of several exciting and significantly underexplored gold targets within our extensive Gawler Craton portfolio, and with a busy exploration programme scheduled for the coming months we look forward to providing regular updates.”
A total of 16 holes were completed for 2,196m designed to infill previous drilling to provide further information which will potentially form part of a maiden Mineral Resource Estimate. The programme was designed to test the north-western and south-eastern extents of the Minos Prospect and to provide further geological information to assist with the geological model for Minos.
As previously reported significant mineralisation has been intersected in previous drilling at the Minos and Ariadne targets located within the 30km long LLSZ.
Initial review of historic drill hole data, including diamond drilling completed at Minos, has highlighted significant high-grade structures within the mineralised zone that were not tested effectively by earlier drilling programmes. Discussion of RC Assay Results High-grade results were received for several holes completed in the April/May drilling, confirming high-grade results intersected in the January 2021 RC programme.
Significant results include:
· 21m @ 8.43 g/t Au from 176m in Hole LLRC041; including 1m @ 159 g/t Au from 185m and
· 2m @ 18.4 g/t Au from 162m in Hole LLRC041; including 1m @ 35.6 g/t Au from 163m
· 23m @ 6.44 g/t Au from 186m in Hole LLRC035; including 1m @118 g/t Au from 198m
· 10m @ 8.83 g/t Au from 39m in Hole LLRC042; including 3 m @ 26.03 g/t Au from 40m
The majority of drill holes intersected the mineralised shear zone and varying amounts of sericite-silica-siderite pyrite alteration in mafic/felsic gneiss host rocks.
Indiana will now review all of the drilling data for Minos, including historical drilling, with a view to assessing whether the drilling density is sufficient to produce a Maiden Resource Estimate or further infill drilling is required.
Further geological information from the current diamond drilling programme at Minos will also provide input into the proposed resource estimation for Minos. Indiana has established a district scale ground position covering 5,090km² in the highly prospective Central Gawler Craton, which hosts a suite of advanced to early-stage targets proximal to existing gold mines and major gold discoveries.
The Lake Labyrinth Shear Zone is a priority exploration focus for Indiana and contains several drill ready targets positioned along a 30km strike including, Minos, North Hicks, Ariadne and Partridge. The majority of targets within the LLSZ remain considerably underexplored and have the potential for significant exploration upside as demonstrated by initial drilling results from Minos.
For further information please visit: https://indianaresources.com.au/
