- Indiana Resources (IDA) reports further significant rare earth element (REE) mineralisation at its wholly-owned Central Gawler project in South Australia
- The company receives its final assays from 36 aircore holes completed back in 2021, confirming thick concentrations of REE accumulations along eight kilometres of strike
- The aircore samples were initially assayed for gold last year, but Indiana has now assayed them for the full suite of heavy rare earth elements
- The company says it will continue to look at the data to better characterise the mineralogy of the REE mineralisation and gain a further understanding of its areal extent
- Shares in Indiana Resources are up 1.49 per cent to 6.8 cents at 10:49 am AEST
Indiana Resources (IDA) has reported further significant rare earth element (REE) mineralisation at its wholly-owned Central Gawler project in South Australia.
The company has received the final assays from 36 aircore holes first drilled in 2021. Indiana initially assayed these holes for gold but has now assayed them for the full suite of REEs.
The assays returned up to 5290 parts per million (ppm) total rare earth oxides (TREO) and 2775ppm mixed rare earth oxide (MREO).
Some of the best results include 33 metres at 1218ppm TREO from 44 metres including eight metres at 3202ppm TREO from 56 metres, as well as 19 metres at 2166ppm TREO from 36 metres including four metres at 4334ppm TREO and 1416ppm MREO from 48 metres.
Indiana Technical Director Felicity Repacholi-Muir said the “outstanding results” confirmed a large-scale and high-grade REE discovery within the Central Gawler project, and the company had “immense scope” to immediately expand a targeted REE program to thoroughly assess the potential of its landholding.
“Planning has commenced to undertake regional air core drilling to further assess the regional distribution of REE mineralisation,” Ms Repacholi-Muir said.
“In addition, we are currently investigating the most appropriate mineralogical and metallurgical test work to characterise the style of REE mineralisation and determine the processes available to maximise the recovery of the REEs from the host material.”
She said the company would undertake this work in conjunction with its already-planned gold exploration activity in the region.
The company said it was continuing to review the new data to better characterise the mineralogy of the REE mineralisation and to deepen its understanding of the vertical zonation and the areal extent of REE mineralisation discovered to date.
Currently, the company is awaiting gold assay results from reverse circulation drilling completed in August at the Minos Gold prospect, expected in October.
Shares in Indiana Resources were up 1.49 per cent to 6.8 cents at 10:49 am AEST.