Indiana Resources Limited (ASX: IDA) ('Indiana' or the 'Company') is pleased to report further significant gold intersections have been received from Reverse Circulation (RC) drilling completed at the Minos Prospect within Indiana's 100% owned 5,713 km2 Central Gawler Craton Gold Project in South Australia.
A total of fourteen (14) drillholes for 1,868m were completed at Minos in April, with the programme designed to infill the existing drill hole coverage within the central portion of the defined mineralisation and to provide further geological information for inclusion in the proposed resource estimate for Minos.
Company Comment - Technical Director Felicity Repacholi-Muir said: 'The consistent delivery of high-quality results from drilling within the Minos Prospect has been nothing short of sensational, and these latest results continue to demonstrate the potential for the area to host a mineralised system of significance. Importantly, drilling reinforces that mineralisation identified to date commences near surface and is coherent with the clear potential to define additional mineralisation along strike. This provides our technical team with great confidence as we push towards defining a maiden mineral resource estimate for Minos later this year.''
The results received from the April programme confirm the Company's geological interpretation and reinforces the Lake Labyrinth Shear Zone as a significant gold bearing system. Gold mineralisation at Minos remains open along strike in both directions and at depth. This release captures the results from the first nine (9) RC drillholes received from the drilling programme, the remaining five (5) drillholes will be released upon receipt of assays.
Minos Results Summary
Drilling was designed to tighten the existing drill density within the central portion of the mineralisation defined at Minos and increasing the confidence levels to enable Indiana to deliver a maiden Mineral Resource estimate. Drilling to date has outlined a 600-metre strike extent of shallow, near-surface gold mineralisation.
It is anticipated that assay results from the remaining five (5) drillholes completed at Minos will be received in late June 2022. Indiana looks forward to advising the market when the remaining assays are received. Indiana is currently planning further drilling targeting the thicker and higher-grade intersections in the north-western portion of the Minos orebody. The Company is also planning to expand Indiana's exploration footprint during its next drilling campaign by testing additional targets along the Lake Labyrinth Shear Zone including Company Well.
Contact:
Felicity Repacholi-Muir
Tel: +61 8 6241 1873
Forward Looking Statements
Indiana Resources Limited has prepared this announcement based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this announcement. To the maximum extent permitted by law, none of Indiana Resources Limited, its directors, employees or agents, advisers, nor any other person accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any loss arising from the use of this announcement or its contents or otherwise arising in connection with it. This announcement may contain forward looking statements that are subject to risk factors associated with exploration, mining and production businesses. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially, including but not limited to price fluctuations, actual demand, currency fluctuations, drilling and production results, reserve estimations, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory changes, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimate.
INDIANA RESOURCES LIMITED 
