Indiana Resources (ASX: IDA) has resumed a major drilling campaign at the Minos Gold Prospect within Indiana’s 100% owned, 5,713 sq. km Gawler Craton project in South Australia.
A diamond drilling program of approximately 1,300m started at Minos in December 2024. This drilling will extend seven of the 28 recently drilled Reverse Circulation (RC) holes via the addition of diamond tails. These diamond tails will deepen holes to depths of between 250m and 500m to test interpreted down-dip extensions to the Minos gold deposit.
The first tail was completed in December 2024. Drill core from this hole is being cut and sampled for laboratory analysis. Results will be reported progressively. Importantly, this is the first deep drilling to be undertaken at the Minos prospect. Work is expected to be completed during February 2025.
The 28-hole RC drilling programme was designed to achieve key objectives including: infilling existing drilling to better define the geometry of the high-grade gold deposit; extend the deposit’s footprint beyond the current 650m of known gold mineralisation; and to test for down-dip extensions to gold mineralisation.
Importantly, initial assays suggest that these key objectives appear on track to be achieved, with highlights including drill hole 24LLRC008 returning a high-grade intersection of 8m at 8.90g/t gold from 208m, to end of hole. This intercept appears to represent a down-dip extension of the main gold mineralisation zone.
“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,” CEO, Lindsay Owler, said.
“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.”
