- Indiana Resources (IDA) completes reverse circulation (RC) drilling at the Minos and Ariadne prospects in South Australia
- A total of 19 RC holes were drilled at both prospects and samples have been sent to the laboratory in Adelaide for analysis with results expected in four to six weeks
- Seven holes were drilled at Minos to infill the existing holes and provide further geological information for the proposed resource estimate
- The remaining 12 holes were drilled at Ariadne to further advance the geological understanding of the nature and geometry of the mineralised zone
- Indiana ends the day 1.61 per cent in the green with shares trading at 6.3 cents
Indiana Resources (IDA) has completed reverse circulation (RC) drilling at the Minos and Ariadne prospects in South Australia.
Both prospects are part of Indiana’s Central Gawler Craton Gold Project which covers a total area of 5713 square kilometres.
A total of 19 holes, for 2387 metres, were drilled at both Minos and Ariadne and samples have been sent to the laboratory in Adelaide for analysis with results expected in four to six weeks.
Seven of the holes were drilled at Minos to infill the existing drill holes and provide further geological information for the proposed resource estimate at the prospect.
Four of the seven holes tested the down-dip extensions of previously reported mineralisation which include 21 metres at 8.43 grams of gold per tonne (g/t) from 176 metres including one metre at 159g/t gold from 185 metres.
The remaining 12 holes, for 1259 metres, were drilled at Ariadne with a focus on the centre of the known gold mineralised zone.
Drilling aimed to further advance the geological understanding of the nature and geometry of the mineralised zone.
Previous drilling returned results of eight metres at 3.12g/t gold, 12 metres at 2.27g/t gold and 12 metres at 1.18/t gold.
Indiana has ended the day 1.61 per cent in the green, with shares trading at 6.3 cents in a $26.93 million market cap.