Indiana Resources flags larger gold system at Minos as new splay delivers strong hits

An announcement from Indiana Resources Limited ( (AU:IDA) ) is now available.

Indiana Resources has reported encouraging early exploration results from its Minos Gold Project in South Australia’s Gawler Craton, confirming gold mineralisation on a newly identified splay off the main Lake Labyrinth Shear Zone at the Ariadne-Company Well prospect area. Assay work from air-core drilling, including an 18-metre intersection grading 1.2 grams per tonne gold plus silver credits, indicates a hydrothermal signature consistent with the nearby Minos prospect and suggests a larger, regionally extensive mineralised system extending over 10 kilometres that remains largely untested.

The company has identified three new structural targets, confirmed historic high-grade intercepts at Company Well and is integrating reprocessed aeromagnetic and mineral mapping data into a 3D geological model ahead of follow-up drilling planned for late May to early June. Backed by a cash balance of $31.2 million at quarter-end, Indiana is also reviewing options to realise value from its broader Gawler Craton portfolio while an ACICA arbitration process related to Tanzanian settlement proceeds continues, a timetable that may influence capital allocation and strategic focus across its exploration assets.

More about Indiana Resources Limited

Indiana Resources Limited is an Australian exploration company focused on gold assets in South Australia’s Gawler Craton, where it controls a 100%-owned land package of about 5,000 square kilometres. Its flagship Minos Gold Project, including the Minos, Ariadne and Company Well prospects, targets structurally controlled gold mineralisation associated with the Lake Labyrinth Shear Zone.

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