Indiana Resources Unveils New High-Grade Gold Zone at Minos Prospect
Indiana Resources Limited has confirmed a new high-grade gold zone at its Minos Gold Prospect in South Australia, with recent drilling revealing multiple significant intercepts. The company plans an aggressive 2025 exploration program to expand the deposit and establish a maiden resource.
- New high-grade gold zone confirmed at Minos Southwest Zone
- Multiple significant gold intercepts up to 45.8 g/t reported
- Main Zone mineralisation extends 650m strike and over 200m depth
- Diamond drilling underway to test down-dip extensions
- 2025 exploration program prioritises further drilling to expand resource
Exploration Breakthrough at Minos
Indiana Resources Limited (ASX, IDA) has delivered a compelling update from its Minos Gold Prospect located in South Australia's Gawler Craton. The latest reverse circulation drilling program has confirmed a new high-grade gold zone in the Southwest area of the deposit, complementing the already extensive Main Zone mineralisation. Assay results from October and November 2024 drilling have revealed multiple significant intercepts, including standout grades up to 45.8 grams per tonne (g/t) gold.
Expanding the Mineralisation Footprint
The Main Zone continues to impress with gold mineralisation intercepted over a strike length of 650 metres and extending more than 200 metres below surface. Recent drilling highlights include 10 metres at 4.95 g/t gold and 8 metres at 11.6 g/t gold, with high-grade intervals within these intercepts. Meanwhile, the newly defined Southwest Zone has delivered promising results such as 15 metres at 4.14 g/t gold and 8 metres at 6.76 g/t gold, including a remarkable 1 metre at 45.8 g/t gold.
Diamond Drilling and Future Plans
To deepen understanding of the deposit’s extent, Indiana has commenced diamond drilling to extend seven of the recent reverse circulation holes. These “diamond tails” aim to test down-dip extensions to depths between 250 and 500 metres, marking the first deep drilling at Minos. Results from this program are expected progressively, with completion anticipated by February 2025.
Strategic Position in the Gawler Craton
Indiana’s 100% owned Gawler Craton project spans 5,713 square kilometres, strategically positioned between historic gold mining centres. The Minos Prospect lies within the Lake Labyrinth Shear Zone, a highly mineralised corridor that has proven challenging for surface geochemical exploration due to transported cover. The company’s ongoing drilling efforts are designed to overcome these challenges and build towards a maiden resource estimate.
Management Perspective
Chief Executive Officer Lindsay Owler expressed optimism about the results, highlighting the high-grade tenor of the Southwest Zone and the continuity of the Main Zone mineralisation. He emphasised that the 2025 exploration program will aggressively target expansion of the Minos deposit, supported by a strengthening gold price and a strong news flow expected in the coming months.
Bottom Line?
Indiana Resources is poised to unlock further value at Minos as drilling advances towards a maiden resource.
Questions in the middle?
- How will upcoming diamond drilling results impact the overall resource estimate?
- What is the potential scale and economic viability of the newly identified Southwest Zone?
- How might evolving gold prices influence Indiana Resources’ exploration and development strategy?
