- Indiana Resources (IDA) has signed a native title mining agreement for 14 exploration licences and one application within its Gawler Craton project in South Australia
- The agreement was signed with the Antakirinja Matu-Yankunytjatjara Aboriginal Corporation and gives the company access to the northern part of its project
- The area related to the agreement reportedly hosts the prospective Lake Labyrinth Shear Zone and is believed to have strong potential for rare earth element mineralisation
- Indiana Resources is conducting a review of the area and historical data to refine targets for exploration
- IDA shares last traded at 5.5 cents on July 6
Indiana Resources (IDA) has signed a native title mining agreement with the Antakirinja Matu-Yankunytjatjara Aboriginal Corporation RNTBC (AMYAC).
The agreement relates to 14 exploration licences and one exploration licence application which are located in the northern part of Indiana’s SA-based Gawler Craton project, giving the company access to explore this area.
The area associated with the native title mining agreement represents about 60 per cent of Indiana Resources’ project package and reportedly hosts the prospective Lake Labyrinth Shear Zone, which extends for 50 kilometres and is at least 50 to 100 metres wide.
Indiana has also identified rare earth element (REE) mineralisation potential within the newly accessible area, and historical drill samples are being re-assayed to better determine the REE content.
Indiana Technical Director Felicity Repacholi-Muir thanked the AMYAC for its support.
“The [agreement] is a major step towards further unlocking the mineral potential of the northern portion of our Gawler Craton portfolio and we look forward to working with the Antakirinja Matu-Yankunytjatjara People to achieve this for shared benefits,” she said.
“With our drilling efforts at Minos continuing to deliver excellent gold grades and a recent technical review highlighting the clear potential for REE mineralisation within the region, we plan to expand our exploration programmes and commence work on the ground as quickly as possible.”
Indiana believes the Lake Labyrinth Shear Zone could host further zones of gold mineralisation and plans to test additional targets along the trend once it receives the necessary approvals.
IDA shares last traded at 5.5 cents on July 6.