Minos Drilling Yields Up to 45.8 g/t Gold in Newly Confirmed Southwest Zone

Exploration Breakthrough at Minos

Indiana Resources Limited (ASX: IDA) has delivered a compelling update from its Minos Gold Prospect, located within the company’s extensive 5,713 km² Gawler Craton project in South Australia. The latest reverse circulation (RC) drilling results have confirmed a newly identified high-grade gold zone in the Southwest area of the deposit, complementing the already robust Main Zone mineralisation.

Highlights from the recent drilling campaign include intercepts such as 8 meters at 6.76 g/t gold, including a remarkable 1 meter at 45.8 g/t gold in the Southwest Zone, and multiple high-grade hits in the Main Zone, including 8 meters at 11.6 g/t gold with a 3-meter interval grading 24.9 g/t. These results underscore the potential for a substantial expansion of the Minos gold system.

Expanding the Mineralised Footprint

The Main Zone now boasts confirmed gold mineralisation over a strike length of approximately 650 meters and extends to depths exceeding 200 meters below surface. The continuity of mineralisation along this strike length has been reinforced by 21 RC holes drilled during October and November 2024, with several intercepts indicating high-grade shoots that could significantly enhance resource estimates.

Meanwhile, the Southwest Zone, a recently defined sub-parallel mineralised corridor, has emerged as a high-priority target following the discovery of multiple high-grade intercepts. This zone lies across strike from the Main Zone and has demonstrated promising grades and widths that suggest it could materially add to the overall resource potential.

Diamond Drilling to Test Depth Extensions

Complementing the RC drilling, Indiana has initiated a diamond drilling program to extend seven of the RC holes with diamond tails, aiming to test down-dip extensions of the gold mineralisation to depths between 250 and 500 meters. This represents the first deep drilling at Minos and is expected to provide critical data to refine the geological model and support future resource estimation.

Initial diamond tail results are pending, with the program scheduled for completion in February 2025. The company’s CEO, Lindsay Owler, emphasised the importance of these deeper tests in unlocking further upside potential at Minos.

Strategic Position in the Gawler Craton

Indiana’s tenure in the Gawler Craton is strategically positioned between historic gold mining centers such as Tunkillia and Tarcoola, areas known for significant gold resources. The Minos Prospect sits within the Lake Labyrinth Shear Zone, a structurally complex and mineralised corridor that has historically been challenging to explore due to transported cover but is now yielding encouraging results thanks to modern drilling techniques.

Beyond Minos, Indiana’s portfolio includes other gold prospects like Earea Dam, Ariadne, Boomerang, and Double Dutch, each with notable drill intercepts and geochemical anomalies that could provide additional growth avenues.

Looking Ahead

With the gold price environment strengthening, Indiana Resources is accelerating its exploration efforts in 2025. The company plans further drilling campaigns to expand the Minos deposit footprint, test new targets, and progress towards defining a maiden resource. The combination of high-grade intercepts and strategic exploration positioning sets the stage for potentially transformative developments in the near term.