Announcement Date: 2021-12-21
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Indiana Resources Ltd.
Project name: Lake Labyrinth
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 10m @ 2.24g/t Au from 9.0m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Indiana Resources Limited (ASX: IDA) (‘Indiana’ or the ‘Company’) is pleased to announce the results from the maiden Reverse Circulation (RC) drilling program at the Ariadne Prospect within Indiana’s 100% owned 5,713 km2 Central Gawler Craton Gold Project in South Australia. The drilling program at Ariadne focused on the centre of the known gold mineralised zone where many of the historical drill holes were only assayed as 4m composites. The drilling at Ariadne was designed to further advance the geological understanding of the nature and geometry of the mineralised zone and was planned to add to a potential resource base for the Minos-Ariadne area. Company Comment Indiana’s Executive Chairman Bronwyn Barnes said: “The Ariadne and Minos Prospects represent less than one kilometre of strike length along the Lake Labyrinth Shear Zone, with as much as 30km of strike length yet to be drill tested. The geophysical signature, historical workings and repeated occurrences of gold mineralisation along the structure provide Indiana with an exciting area to explore.
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