HomeExplorationIndiana Resources looks to reviewing further assays

Indiana Resources looks to reviewing further assays

Indiana Resources’ assay results have been received for diamond drill hole LLRCD028 at the Minos Prospect located within Indiana’s 100% owned 5,713 km² Central Gawler Craton Gold Project in South Australia.

Three Reverse Circulation (RC) drill holes (LLRC027, LLRC028 and LLRC045) were extended with diamond tails during July. Assays have now been received for LLRCD028 with significant results as follows:

  • 26m @ 3.58g/t Au from 76m (includes previously reported RC pre-collar results)
  • 5m @ 1.08g/t Au from 158m
  • 2m @ 1.88g/t Au from 152m

The results for the second diamond hole confirm and infill earlier intersections of significant mineralisation intercepted above and below the target zone within LLRCD028.

Mineralisation on this drill section (10560) extends from 25 metres below surface (mbs) in LLRC039 to 175mbs in LLRC041. The broad medium grade intersection in LLRCD028 is centred around 75mbs and is about 100m above the high-grade intersection in LLRC041 of 21m @8.43g/t Au from 176m down hole.

Further drilling is required to test the extension back to surface and at depth below 200mbs. Mineralised sheared/fractured and altered (silica-siderite-sericite-pyrite) host rock was intersected in all drill holes, interpreted to be located within a subvertical shear zone immediately south of a NW-SE trending chert/quartz marker horizon.

Sulphide mineralisation is commonly associated with multiple stages of fracturing in at least three different orientations. Pyrite is associated with the fine fracturing that sometimes contains quartz and in some orientations is stylolitic in nature.

Results from the remaining diamond tail are expected to be received within the next 2-4 weeks depending on turnaround times from the assay laboratory in South Australia.

Indiana will review all the drilling data for Minos, including historical drilling, with a view to assessing whether the drilling density is sufficient to produce a Resource Estimate or whether further infill drilling is required.

Further geological information from the current diamond drilling program will also provide input into the proposed resource estimation for Minos.

Indiana’s Executive Chairman Bronwyn Barnes said:

“Minos remains one of our priority areas and these assay results confirm that Minos is an exceptional gold target. Minos remains open along strike and at depth, and the current RC drill programme that commenced on October 23rd has been designed to test the extension of the mineralised zone.

“We look forward to receiving the assays from the remaining diamond tail at Minos over the coming weeks and will be able to provide an update on our planned exploration programme for the remainder of the year shortly.”