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Indiana Resources Limited ( (AU:IDA) ) just unveiled an announcement.
Indiana Resources has reported new air-core drilling results from its Minos Gold Project in South Australia, confirming a previously unidentified mineralised splay off the main Lake Labyrinth Shear Zone. Key intercepts at the Company Well prospect include 18 metres at 1.2 grams per tonne gold and 4.6 grams per tonne silver from 10 metres, within a structure interpreted to extend over 10 kilometres of largely untested strike.
Multi-element assays show a hydrothermal Au–Cu–Bi–Te–Pb signature consistent with mineralisation at the nearby Minos prospect, suggesting a larger connected system across the Minos–Ariadne–Company Well corridor. Indiana is finalising follow-up air-core and reverse circulation drilling to test the new structure along strike and at depth, supported by a strong cash position of $33.8 million to advance regional-scale exploration.
The most recent analyst rating on (AU:IDA) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Indiana Resources Limited stock, see the AU:IDA Stock Forecast page.
More about Indiana Resources Limited
Indiana Resources Limited is an Australian mineral exploration company focused on gold exploration at its 100%-owned Gawler Craton Project in South Australia. The flagship Minos Gold Project targets structurally controlled gold systems along the Lake Labyrinth Shear Zone, where the company is systematically testing multiple prospects over a large, underexplored strike length.
YTD Price Performance: -4.88%
Average Trading Volume: 1,895,820
Technical Sentiment Signal: Buy
Current Market Cap: A$25.13M
Find detailed analytics on IDA stock on TipRanks’ Stock Analysis page.