- Indiana Resources (IDA) extends gold mineralisation at the Minos prospect within the Central Gawler Craton project in South Australia
- Seven drill holes were completed, four of which were step-out holes to test the down-dip extensions of previously identified mineralisation
- Indiana says the gold mineralisation at Minos now extends over 600 metres of strike length and remains open along strike and at depth
- Assays are pending from drilling undertaken in December and plans for an additional reverse circulation drilling program are being finalised
- Shares have been trading steady at 6 cents each
Indiana Resources’ (IDA) latest assays results have extended gold mineralisation at the Minos prospect within the Central Gawler Craton project in South Australia.
The prospect is located within the Lake Labyrinth Shear Zone and is interpreted to be a
30-kilometre-long regional structure that is at least 50 to 100 metres wide.
In November, seven reverse circulation drill holes were completed. However, one had to be terminated prior to reaching depth due to water issues.
Four of the holes were step-out holes to test the down-dip extensions of previously reported mineralisation.
Of these four holes, core from LLRC063 highlighted continuity of the mineralisation at depth. Results included nine metres at 2.77 grams per tonne (g/t) gold from 186 metres downhole, including one metre at 17.2 g/t gold.
Drill hole LLRC062 was completed to test the up-dip extension of mineralisation, and returned 11 metres at 0.8 g/t gold from 41 metres and seven metres at 3.18 g/t gold from 54 metres.
The company said gold mineralisation at Minos is now confirmed over 600 metres strike length.
Executive Chair Bronwyn Barnes said the results confirm that the Minos prospect is developing into a continuous orebody that remains open both along strike and at depth.
“These wide gold results continue to indicate the real potential and scale of the Lake Labyrinth Shear Zone, with as much as 30 kilometres of strike length yet to be drill tested,” Ms Barnes said.
Assays are pending from drilling completed in December, with results expected in late January or early February.
Assays are also pending from a calcrete sampling program also completed in December, the results of which are expected to identify further gold anomalies, mineralisation trends and assist with drill hole targeting.
IDA has organised for the drill rig to return to site later this month to carry out further reverse circulation drilling which is being finalised.
The company plans to release details on the scope and timing of the upcoming program in due course.
Shares were trading steady at 6 cents each at 10:04 am AEDT.