Indiana Resources is set to begin drilling the depths of its Minos gold discovery in South Australia, with diamond drilling scheduled to start later this week. The company says previous rounds of shallow reverse circulation drilling have now set the stage for the next diamond program, which will explore the roots of the gold-rich system that has already yielded assays in excess of half an ounce per tonne.
Previous drilling at Minos returned a number of interceptions that suggest high grade source core in the system at depth. The deeper intervals include 12 meters at 10.36 grams per tonne of gold at 120 m and 5 m at an astonishing grade of 24.35 g / t from 106 m downhole.
The company claims that as part of the previous drilling campaign, three pre-collars were placed along the length of Minos, allowing diamond drilling to test under several thick intersections of shallow, high-grade mineralization. , including 38m at 6.54 g / t gold of only 28m downhole.
Indiana said the diamond drilling will provide key geological data for the discovery and allow the company to begin to unravel the geochemical and structural controls of the mineralization.
The Minos discovery in Indiana is located on a regional structure known as the Lady Labyrinth Shear Zone which is oriented northwest and extends over 30 km east of the Company’s territory.
The company’s 5,000 km² landholding is located approximately 620 km north of Adelaide in the mineral-rich Gawler Craton of South Africa. This re-emerging province is quickly becoming a mecca for copper and gold explorers following a wave of discoveries in the region, including the recent discovery of iron oxide, copper and d ASX-listed Gold Emmie Bluff, which recently tripled the company’s stock price.
Other players in the region include aspiring ASX Barton Gold, which owns the Tunkillia, Challenger and Tarcoola mining centers west of Indiana soil, and copper explorer Taruga Minerals, whose Mt. Craig is to the east.
While Indiana remains firmly focused on finding Minos, the company is already broadening its horizons and is close to completing reconnaissance drilling over 6 km of the Lady Labyrinth shear direction. The original 60-hole drill program was designed to test the shear extensions northwest and southeast of Minos, but this program has been extended to include additional drilling between the Minos and Ariadne prospects.
The work between Minos and Ariadne covers approximately 1000m of direction and is designed to test a theory that the two prospects are part of a larger gold system. The first shallow drilling at Ariadne has already yielded encouraging results, including 11 m grading 2.44 g / t gold at only 40 m depth.
With Indiana regional drilling nearing completion and diamond drilling scheduled to investigate the bowels of the Lady Labyrinth shear, punters won’t have to wait long to see if the company has a tiger by its tail in it. this terrane reappears.
Is Your ASX Listed Company Doing Something Interesting? Contact: [email protected]