- Indiana Resources (IDA) wraps up drilling for rare earth elements (REE) and gold at the Minos prospects within its Central Gawler gold project in South Australia
- The company drilled 72 aircore holes to test for extensions to known REE mineralisation, while ten reverse circulation holes tested for gold mineralisation
- Samples from both programs have been sent for analysis, with the aircore results expected in January and the RC results by February
- Phase two of the aircore program is scheduled for the first quarter of the new year
- Shares in IDA are up 1.96 per cent and trading at 5.2 cents at 1:40 pm AEDT
Indiana Resources (IDA) has wrapped up drilling for rare earth elements and gold at the Minos prospects within its Central Gawler gold project in South Australia.
Aircore drilling for rare earth elements at Minos included seventy-two drill holes for 3251 metres to infill and extend a two-kilometre-long area within the ten-kilometre strike length defined along the lake Labyrinth shear zone.
Here, IDA previously recorded high total rare earth oxide (TREO) grades, including 37 metres at 1687 parts per million TREO, and thick clay-hosted REE mineralisation.
The first phase of the program at Minos also included an initial test across strike for repetitions of REE mineralisation one kilometre south and two kilometres north of an existing REE trend.
All samples from the aircore drilling have been sent for analysis of REE, and a few will also be analysed for gold.
Meanwhile, the company also completed ten reverse circulation drill holes in the Minos area to test the extent of a 600-metre zone of shallow, near-surface gold mineralisation.
Indiana said the prospect remained open along-strike in both directions and at depth.
“With exceptional results received to date from both our REE and gold explorations, these two drill programs will deliver us strong news flow in early 2023 and provide a solid technical base for our continuing geological evaluation,” Indiana CEO Richard Maish said.
Assay results from the aircore program are expected by late January, while the RC assay results are anticipated by late February.
Phase two of the aircore program is also due to begin in the first quarter of the new year.
Shares in IDA were up 1.96 per cent and trading at 5.2 cents at 1:40 pm AEDT.