Indiana Resources has identified significant high-order gold anomalies at its Minos Gold Project, setting the stage for upcoming drilling and a maiden resource estimate.
- High-order gold anomalies up to 292 ppb at Ariadne Prospect
- Follow-up infill calcrete sampling underway, drilling planned for Q4 2025
- Resource drilling and metallurgical programs progressing on schedule
- Proposed capital return of A$0.05 per share subject to shareholder approval
- Minos Gold Project covers 5,713 km² in the Gawler Craton, South Australia
Exploration Breakthrough at Minos
Indiana Resources Limited (ASX – IDA) has announced compelling new exploration results from its 100% owned Minos Gold Project, located in the highly prospective Gawler Craton region of South Australia. Regional calcrete sampling has revealed broad, high-order gold anomalies, with peak values reaching 292 parts per billion (ppb) at the Ariadne Prospect, levels comparable to those seen in the Challenger discovery samples. These findings underscore the significant potential for a high-grade gold resource within Indiana’s extensive 5,713 square kilometre landholding.
Strategic Follow-Up and Drilling Plans
Building on these encouraging geochemical results, Indiana has commenced follow-up infill calcrete sampling to better delineate the gold anomalies. This work is expected to complete by late July 2025, paving the way for Reverse Circulation (RC) drilling scheduled for the fourth quarter of 2025 at both the Ariadne Prospect and the nearby Company Well target. These drilling campaigns aim to test the lateral extent and depth of mineralisation, critical steps toward defining a maiden gold Resource Estimate.
Advancing Towards Resource and Production
Indiana’s broader Minos project development strategy is advancing steadily. A 27-hole RC drilling program totaling 6,600 metres has recently been completed, with assay results anticipated by late July. Concurrently, a 1,500-metre diamond drilling program is underway and expected to continue through August 2025. These efforts support an ongoing Scoping Study designed to assess the project’s potential for commercial gold production. Complementing the drilling, metallurgical test work has commenced, focusing on gravity concentration and cyanide leach tests across different mineralisation domains, with expert consultants engaged to guide this phase.
Financial Strength and Shareholder Returns
Reflecting its robust financial position, Indiana Resources has announced an intention to return A$0.05 per share to shareholders as a capital return, subject to shareholder approval expected in mid-August. This move signals confidence in the company’s cash flow and commitment to delivering shareholder value alongside its exploration ambitions.
Outlook and Market Positioning
With a strategic land position between historic gold mining centres and a management team experienced in resource development, Indiana Resources is well placed to unlock the commercial potential of the Minos Gold Project. CEO Lindsay Owler highlighted that the company is “only just scratching the surface” of the exploration upside, emphasizing the scale and high-grade potential of the system. As the company progresses through its technical milestones, market participants will be watching closely for assay results and resource updates that could redefine the project’s valuation.
Bottom Line?
Indiana’s unfolding exploration story at Minos could soon translate into tangible resource milestones and shareholder returns, but key assay results remain imminent.
Questions in the middle?
- Will the upcoming drilling confirm the extent and grade of the gold anomalies indicated by calcrete sampling?
- How will metallurgical test results influence the economic viability of the Minos Gold Project?
- What are the implications of the proposed capital return on Indiana’s funding capacity for ongoing exploration?