Announcement Date: 2022-09-19
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Indiana Resources Ltd.
Project name: Central Gawler
Location: Australia
Commodities: REO
Highlight: Drilling results incl. 33m at 1218ppm REO from 44m
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 that further significant REE mineralisation has been returned from Indiana’s 100% owned 5,713 km² Central Gawler Project in South Australia. The assay results relate to samples from 36 aircore (AC) holes that were previously assayed for gold during 2021 and have now been re-assayed for the full suite of light and heavy rare earth elements (Total REE). These holes were drilled along an 8km strike within an identified prospective 10km strike extent of the Lake Labyrinth Shear Zone (LLSZ) with REE mineralisation remaining open in all directions. Assays highlight a high proportion of high-value Magnet Rare Earth Oxides (MREOs). The Central Gawler Project represents a potentially large-scale rare-earth opportunity. The reassaying exercise has tested only a small portion of the Project that was indicated to be prospective for REEs (refer ASX Release dated 14th June 2022). Indiana is looking forward to systematically testing the REE potential of the additional target areas (Figure 6). The REE results returned to date have given the Company confidence to commit to a specific REE focused drilling campaign.
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