Indiana Resources Extends Gold Mineralisation at Minos with Strong Drilling Results
Indiana Resources reports significant gold intercepts at its Minos Gold Project, extending mineralisation by 60 metres and confirming open depth potential. A new air-core drilling campaign is set to test further targets along the Lake Labyrinth Shear Zone.
- 21m at 2.31 g/t gold intersected from 115m depth
- Mineralisation extended 60m to the south-east and remains open at depth
- Assays pending for two RC holes and seven diamond drill holes
- Upcoming ~5,000m air-core drilling program to test additional targets
- Company holds $37 million cash with no debt to fund exploration
Strong Gold Intercepts Confirm Growth at Minos
Indiana Resources Limited (ASX, IDA) has delivered encouraging extensional drilling results from its flagship Minos Gold Project in South Australia. The recent reverse circulation (RC) drilling program intersected multiple significant gold zones, including a standout 21 metres grading 2.31 grams per tonne (g/t) from 115 metres depth. These results extend the known mineralised footprint by approximately 60 metres to the south-east, with mineralisation remaining open at depth, signalling further upside potential.
Drilling Program and Pending Assays
The August 2025 drilling campaign comprised 27 RC holes totaling 5,550 metres and 1,150 metres of diamond drilling aimed at testing extensions along strike and at depth. While assays from 25 RC holes have been received, results from two RC holes and seven diamond holes remain pending. The diamond drilling specifically targets high-grade plunge orientations within the mineralised system, which could reveal richer zones at depth.
Strategic Focus on Lake Labyrinth Shear Zone
The Minos prospect is hosted within the Lake Labyrinth Shear Zone, a structurally fertile corridor extending over 50 kilometres within Indiana’s tenure. The company plans to commence a ~5,000-metre air-core drilling program in early October to test multiple gold targets along this shear zone and the nearby Company Well area. This program follows up on promising gold-in-calcrete results from recent regional sampling, underscoring the broader potential of the Gawler Craton Project.
Financial Position Supports Aggressive Exploration
Indiana Resources remains well-capitalised with $37 million in cash and no debt, providing a solid financial foundation to advance its exploration campaigns. Managing Director Matthew Bowles emphasised the company’s commitment to expanding the Minos Gold Project and exploring new targets along the Lake Labyrinth Shear. The ongoing investor marketing program aims to highlight the significant potential of the project and the broader Gawler Craton region.
Outlook and Next Steps
With mineralisation at Minos extending deeper and along strike, and further assay results imminent, Indiana Resources is well positioned to refine its geological model and target follow-up drilling. The upcoming air-core program will also provide critical data to assess the broader gold system. While true widths of mineralisation remain to be confirmed, these results reinforce Minos as a significant gold-bearing system in South Australia’s Central Gawler Craton.
Bottom Line?
As assay results and new drilling unfold, Indiana Resources could unlock further value from the Minos Gold Project’s expanding gold system.
Questions in the middle?
- What will the pending diamond drilling assays reveal about high-grade zones at depth?
- How will the upcoming air-core drilling results influence the broader exploration strategy?
- When might Indiana Resources be able to define a maiden resource estimate for Minos?
