- Indiana Resources (IDA) has identified up to 9.9g/t gold from historical diamond hole THDD-006 at the Minos Prospect in South Australia
- Hole THDD-006 was drilled in 2015 to a depth 62.8 metres with core assayed from 15.2 metres to 62.8 metres
- The result of 9.9g/t gold confirms and enhances intersections of significant mineralisation in neighbouring holes
- Infill drilling has been planned to provide a suitable drill hole density to produce a maiden resource estimate
- Indiana has ended the day 3.08 per cent in the green with shares trading at 6.7 cents
Indiana Resources (IDA) has identified up to 9.9g/t gold from historical diamond hole THDD-006 at the Minos Prospect.
Minos is situated within Indiana’s wholly owned Central Gawler Craton Project which lies in South Australia.
Hole THDD-006 was drilled in 2015 to a depth 62.8 metres with core assayed from 15.2 metres to 62.8 metres.
Indiana has now received results with best of 20 metres at 1.55g/t gold from 32 metres including one metre at 9.9g/t gold from 44 metres returned.
These results both confirm and enhance intersections of significant mineralisation in neighbouring holes.
Infill drilling has been planned to provide a suitable drill hole density to produce a maiden resource estimate.
Furthermore, Indiana recently completed a reverse circulation (RC) drilling program at Minos, and results are expected within the next three weeks.
“With exploration activity underway on our Central Gawler Craton Gold Project, shareholders should expect steady news flow in 2021 as the company progressively tests known prospects and identifies further prospects within our highly prospective tenement package,” Executive Chairman Bronwyn Barnes said.
“Historical drilling results at Earea Dam, Double Dutch and Boomerang warrant follow-up and the company is equally excited by the potential for new greenfield discoveries within the project area,” she added.
RC drilling is in the process of being planned at additional prospect to expand the current zones of mineralisation.
Additionally, aircore drilling is being planned along the Lake Labyrinth Shear Zone to outline potential mineralisation zones.
Indiana has ended the day 3.08 per cent in the green with shares trading at 6.7 cents in a $16.42 million market cap.