Can Indiana Resources Sustain Momentum as Minos Deposit Remains Open in All Directions?
Indiana Resources has launched a significant drilling program at its Minos gold deposit in South Australia, aiming to expand high-grade gold zones ahead of a maiden resource estimate.
- 27-hole, 6,600m reverse circulation drilling underway at Minos
- Targeting extensions to high-grade gold intercepts including 21m at 8.43 g/t and 38m at 6.54 g/t
- Minos Main Zone extends 380m deep and 650m along strike, remains open in all directions
- Diamond drilling to commence in June for deeper deposit extensions
- Company well-funded and expects sustained news flow amid strong gold prices
Drilling Campaign Kicks Off at Minos
Indiana Resources Limited (ASX: IDA) has commenced a focused reverse circulation (RC) drilling program at its wholly owned Minos gold deposit, located within the expansive Gawler Craton Project in South Australia. The campaign, consisting of 27 planned holes totaling approximately 6,600 metres, aims to delineate and extend high-grade gold mineralisation ahead of a maiden resource estimate.
The Minos deposit has already demonstrated impressive gold grades, with recent drilling intercepts including 21 metres at 8.43 grams per tonne and 38 metres at 6.54 grams per tonne. These results underscore the deposit’s potential and have encouraged the company to pursue further extensions along strike and at depth.
Expanding the High-Grade Zone
The Minos Main Zone currently extends 380 metres below surface and stretches 650 metres along strike, remaining open in all directions. The ongoing drilling program targets northwest and southeast strike extensions, down-dip extensions, and a newly defined southwest zone. This comprehensive approach reflects Indiana’s confidence in the deposit’s continuity and scale.
Following the RC drilling, a diamond drilling rig is scheduled to commence work in June 2025 to complete approximately 1,500 metres of deeper drilling. This phase will focus on testing down-dip extensions, which could significantly enhance the deposit’s resource potential.
Strong Financial Position Supports Exploration
CEO Lindsay Owler highlighted the company’s strong financial position, enabling sustained exploration activity through to at least August 2025. "Minos has continued to deliver exceptionally high gold grades," Owler said, "and we are excited to further test its extents as we progress towards a maiden resource estimate. Supported by a robust gold price environment, shareholders can expect a steady flow of drilling results."
Indiana’s strategic landholding of 5,713 square kilometres in the Gawler Craton places it between historic gold mining centres, offering a promising backdrop for both gold and rare earth element exploration. The company’s experienced management team and well-funded status position it well to capitalise on current market conditions.
Looking Ahead
As drilling progresses, the market will be watching closely for assay results that could confirm the scale and grade of the Minos deposit. With the deposit remaining open and exploration intensifying, Indiana Resources is poised to potentially redefine its resource base in a favourable gold price environment.
Bottom Line?
Indiana’s aggressive drilling at Minos could unlock significant new high-grade gold resources, setting the stage for a pivotal resource update later this year.
Questions in the middle?
- Will the upcoming diamond drilling confirm deeper extensions to the Minos deposit?
- How might sustained high gold prices influence Indiana’s broader exploration strategy in the Gawler Craton?
- What timeline can investors expect for the maiden resource estimate and subsequent development plans?
