Indiana Resources keeps up drilling and scoping study pace at Minos

• Indiana Resources says more than 50% of the scheduled RC drill holes have been completed
• The diamond drill rig is set to arrive on site by mid-June
• The company expects a solid news flow in the coming months

Special Report: Indiana Resources is continuing reverse circulation drilling and scoping study work in its mission to deliver a maiden resource at the Minos gold deposit in South Australia.

Fifteen of the planned 27 RC holes have been wrapped up with initial drill samples dispatched for analysis ahead of first assays in June.

A diamond drill rig is scheduled to arrive at Minos in mid-June to support the next phase of drilling, which is planned to continue until August.

March also saw the launch of a scoping study and gold production planning, with Indiana Resources (ASX:IDA) re-logging 160 drill holes from the Minos deposit to allow the construction of a detailed geological model of the gold deposit followed by the estimation of a gold resource.

Simultaneously, IDA is conducting metallurgical testwork, including gravity concentration and cyanide leach optimisation for each of the oxide, transitional and primary metallurgical domains within the Minos deposit.

Background on the Minos deposit

The company’s tenements in the Gawler Craton sit between the historical gold mining centres of Tunkillia (965,000oz gold resource) and Tarcoola (15,800oz resource).

IDA has identified a highly prospective gold structure spanning 50km within the Lake Labyrinth Shear Zone that offers considerable possibilities for future discoveries.

Both the Minos and Ariadne prospects exhibit promising signs, remaining open along strike and at depth.

The ongoing drilling is targeting extensions of the Minos Main Zone, including the northwest and southeast strike extensions, the down-dip extension and the newly identified Southwest Zone.

To enhance depth and core quality, the company will extend select RC holes with diamond tails, with a diamond rig set to start in June.

Watch: Minos gold drilling shows promise

Steady news flow in coming months

IDA CEO Lindsay Owler said these important work programs were advancing well, and the company was pleased by the progress being made, with more than 50% of the scheduled holes in the current RC drilling program complete.

“The arrival of a diamond rig in mid-June will allow us to test deeper targets and better define the scale of the deposit as we continue our aggressive drilling campaigns until at least August,” she said.

“This focused activity will ensure a steady news flow on progress over the coming months.

“At the same time, our scoping study is progressing well,” he added.

“The geological re-logging of historical drill holes is improving our understanding of the deposit and will support the construction of a detailed geological model.

“These efforts are a crucial step towards delivering a maiden gold resource estimation for Minos.”

This article was developed in collaboration with Indiana Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.