Indiana Resources (ASX: IDA) has commenced a systematic exploration programme to identify and advance a pipeline of gold targets within Indiana’s 100% owned 5,713 sq. km Central Gawler Craton Exploration Project (CGCP) in South Australia.
The proposed programme, planned to be completed during the December quarter, has been based on a detailed review of historical data combined with existing heritage and Department of Mines approvals. The proposed programme of works will follow a systematic process through several concurrent work streams, including:
o Detailed geological mapping
o Auger assisted calcrete sampling and geochemistry.
o Reverse Circulation (RC) and Diamond drilling at Minos.
Several prospective target areas have been identified around the Company’s Lake Labyrinth trend (including Minos), Double Dutch, Earea Dam and Moolkra prospects. These selections are based on existing heritage clearances and statutory approvals under the company’s mining agreements, specifically with the Gawler Ranges and AMYAC native title agreements. This careful selection will ensure compliance and respect for local heritage and indigenous agreements, which are crucial for sustainable operations.
The expanded and accelerated exploration programme will be fully funded from existing capital reserves and will not require any additional fundraising for the foreseeable future.
Mapping
There has been little or no detailed geological mapping completed historically within the CGCP project area in South Australia. An experienced mapping contractor has been engaged and will mobilise mapping teams during November. Initially the focus will be the Lake Labyrinth corridor including Minos, Ariadne and Partridge followed by the Earea Dam, Double Dutch and Moolkra areas
A calcrete soil sampling programme totalling about 13,900 samples at 80m by 80m spacing has been designed to follow up existing wide spaced calcrete geochemistry and test areas where no sampling has been previously undertaken. This programme is scheduled to commence late October and will focus on several areas listed below in order of priority.
This phased approach allows for continuous assessment and refinement of the programme as new data is received. The objective of this sampling programme is to identify areas for further infill geochemistry and drill targets.
RC & Diamond Drilling - Minos
An RC drill programme comprising a minimum of 27 holes for a total of 4,270 metres has been planned to infill existing drilling and extend mineralisation at depth and along strike at Minos. In addition, the recently identified sub parallel mineralisation across strike to the southwest will be tested. Infill drilling will provide the information required to develop a more accurate geological model as the Minos prospect is advanced towards a resource assessment.
Diamond drilling comprising a minimum of 3 holes for 1,800 metres has been planned to test the Minos structure between 300 and 400 metres below surface which is 100 to 150 metres below the current drilling limits. These holes are designed to test both the continuity of the controlling structures at depth and for the presence of extensions and/or repetitions of gold mineralisation. Rigs are currently being mobilised for this programme and a further announcement will be made in due course once drilling commences.
“With the company now in a strong financial position, it is exciting to expand our exploration programmes in South Australia with a focus on gold.” Executive Chair, Bronwyn Barnes, said.
“A targeted RC and diamond drilling campaign at Minos will provide a deeper insight in the subsurface geology and validate the Company’s belief in the future potential of the tenement package. Mapping, soil sampling and geochemistry will provide strong technical data to assist in future planning for exploration, for which the Company has committed funding to the next two to three years.
"This commitment to exploration activity will provide strong news flow for the Company over the next six months and provide the information we require to proceed to resource definition at Minos. I look forward to sharing these developments with shareholders over the next few months.”