Indiana Strikes Gold at Labyrinth Shear: Drilling Fast-Tracked

Indiana Resources Unearths Promising New Gold Zone in South Australia, Accelerating Exploration

Indiana Resources (ASX:IDA) is set to ramp up drilling activities at its significant Minos gold project in South Australia, following the exciting discovery of a previously unrecognised mineralised splay. Recent drilling results from the Gawler Craton region project have revealed substantial gold and silver mineralisation, indicating the potential for a larger, more extensive mineralised system.

The latest assay results have pinpointed an intersection of 18 metres grading 1.2 grams per tonne (g/t) of gold from a depth of 10 metres, alongside 6.1g/t of silver. This discovery at the Company Well prospect is particularly significant as it identifies gold mineralisation on a new structure branching off the primary Lake Labyrinth Shear Zone (LLSZ).

Matthew Bowles, Managing Director of Indiana Resources, highlighted the importance of these findings. “These initial results from the Company Well prospect have identified gold mineralisation on a new structure off the primary Lake Labyrinth Shear Zone,” he stated. “The most significant aspect of this intersection is its proximity to a major structural feature and the presence of a strongly developed hydrothermal signature.”

The multi-element assay results have revealed a distinct hydrothermal signature that is strongly associated with the gold mineralisation. This signature, characterised by a robust elemental association including gold, copper, bismuth, tellurium, and lead, is consistent with that observed at the nearby Minos prospect. This consistency bolsters the company’s belief in the potential for a much larger mineralised system at the project.

Strategic Exploration and Future Plans

Indiana Resources is actively reassessing historic datasets, which will be integrated into the upcoming follow-up Reverse Circulation (RC) drilling plans. The objective is to determine the most effective strategies for targeting these newly identified mineralised structures at greater depths, within fresh rock.

“Our systematic approach to exploration over the broader Minos-Ariadne-Company Well area is continuing to deliver,” Bowles added. “We look forward to further updating shareholders on our exploration activities as we focus on growth and discovering additional new zones of gold mineralisation.”

The Ariadne-Company Well prospect area, where the new mineralised structure has been identified, is situated approximately one kilometre south-east of the already advanced Minos gold prospect. Encouragingly, this newly identified mineralised structure is interpreted to extend over an impressive 10 kilometres and remains relatively underexplored, presenting a significant opportunity for future discoveries.

Unveiling the Potential of the Minos Gold Project

Further analysis has also confirmed a hydrothermal signature with a clear gold–sulphur association at the Company Well prospect. This recognition of a distinct hydrothermal signature in drilling results at both Company Well and the Minos prospect strongly supports the interpretation that these areas are part of a much larger, cohesive mineralised system.

The company is currently undertaking planning for follow-up Air Core (AC) and RC drilling. These programs are designed to systematically explore along the main Lake Labyrinth Shear Zone (LLSZ) and the newly identified mineralised splay. The anticipated completion of these planned follow-up programs is expected in the coming weeks.

Indiana Resources’ strategic approach to exploration in the Minos-Ariadne-Company Well region is proving fruitful, consistently delivering promising results. The company remains focused on expanding its gold mineralisation footprint and capitalising on the significant potential of this underexplored area within the Gawler Craton.

Key Project Highlights:

• New Mineralised Splay: Discovery of a previously unidentified mineralised structure at the Company Well prospect.
• Significant Intersections: Latest drilling results include 18m at 1.2 g/t gold and 6.1 g/t silver.
• Hydrothermal Signature: Identification of a distinct hydrothermal signature associated with gold and other key elements, indicative of a larger system.
• Strategic Location: The new structure is located near the Lake Labyrinth Shear Zone (LLSZ) and the advanced Minos gold prospect.
• Extensive Potential: The new structure is interpreted to extend over 10km and is largely untested.
• Accelerated Exploration: Plans are underway for immediate follow-up AC and RC drilling to further delineate the mineralised zones.

The ongoing exploration efforts by Indiana Resources at the Minos project are poised to provide valuable insights into the full extent and potential of this promising gold deposit. Shareholders will be kept informed of further developments as the company progresses its systematic and growth-focused exploration strategy.