Indiana Resources has confirmed a new gold mineralised splay off the Lake Labyrinth Shear Zone at its Minos Gold Project, revealing promising assay results and a hydrothermal signature indicative of a larger system.
- 18m intersection at 1.2 g/t gold including higher-grade zones
- New mineralised splay extends over 10 kilometres and remains largely untested
- Multi-element assays reveal a distinct hydrothermal signature consistent with Minos prospect
- Follow-up air-core and reverse circulation drilling planned to test strike and depth
- Company holds $33.8 million in cash to fund ongoing exploration
Exploration Breakthrough at Minos Gold Project
Indiana Resources Limited (ASX – IDA) has announced encouraging assay results from recent air-core drilling at its flagship Minos Gold Project in South Australia. The drilling has identified a previously unrecognised mineralised splay off the primary Lake Labyrinth Shear Zone (LLSZ), a major structural feature known for its gold potential within the Gawler Craton.
The standout result comes from hole CWAC034, which intersected 18 metres at 1.2 grams per tonne (g/t) gold from just 10 metres downhole, including a higher-grade 3-metre section at 3.6 g/t gold and 6.1 g/t silver. Additional assays from the broader Ariadne-Company Well prospect area returned multiple shallow gold intersections, reinforcing the prospectivity of the region.
Hydrothermal Signature Suggests Larger Mineralised System
Beyond the gold grades, the multi-element assay results revealed a distinct hydrothermal signature characterised by an association of gold with copper, bismuth, tellurium, and lead. This elemental fingerprint closely matches that observed at the nearby Minos prospect, suggesting these zones are part of a much larger, interconnected mineralised system.
Magnetic data further supports this interpretation, indicating the new mineralised splay extends over 10 kilometres of strike length and remains largely untested. This opens up significant exploration upside for Indiana Resources as it seeks to delineate the full extent of the system.
Strategic Follow-Up Drilling and Strong Financial Position
The company is currently finalising plans for follow-up drilling programs, including both air-core and reverse circulation methods, to test the new structure along strike and at depth. These programs aim to build on the initial results and better understand the geometry and continuity of the mineralisation.
Indiana’s Managing Director, Matthew Bowles, emphasised the importance of these findings – "The proximity of this mineralised splay to a major structural feature and the robust hydrothermal signature are highly encouraging. Our systematic exploration approach continues to deliver, and we look forward to advancing these targets with upcoming drilling."
Financially, Indiana Resources remains well-positioned with $33.8 million in cash, enabling it to fund the planned exploration activities without immediate capital constraints. This strong balance sheet provides flexibility as the company pursues multiple targets across its extensive 5,700 square kilometre tenure in the Central Gawler Craton.
Broader Regional Potential
The Minos Gold Project sits within a highly prospective region that has historically yielded significant gold resources. The Lake Labyrinth Shear Zone itself stretches over 50 kilometres within Indiana’s ground, hosting multiple prospects including Minos, Ariadne, and Company Well. The recent drilling results add to a growing body of evidence that this region could host a substantial gold system.
Looking ahead, the company plans to integrate historic datasets and conduct hylogger analysis on previous diamond drill holes to refine targeting and better understand alteration patterns. Metallurgical testing is also underway to assess ore characteristics, which will be critical for future development considerations.
Bottom Line?
Indiana Resources’ discovery of a new mineralised splay with a strong hydrothermal signature marks a pivotal step in unlocking the Minos Gold Project’s regional potential.
Questions in the middle?
- How will follow-up drilling refine the understanding of the mineralised system’s size and grade?
- What impact will metallurgical test results have on the project’s development prospects?
- How might integration of historic data and new geophysical analysis influence future targeting strategies?