05/05/2021 - 17:07

Indiana native title deal opens door for expanded SA gold hunt

05/05/2021 - 17:07

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Indiana Resources has signed a native title mining agreement that paves the way for an expansion of its exploration activities across a major mineralised shear structure at its Central Gawler Craton gold project in SA’s venerated Gawler Craton region. The company will now be able to test a bevy of “high-priority” prospects within its massive project landholdings, one of which has already returned bonanza gold drill intersections.

ASX-listed Indiana Resources has secured a native title mining agreement that paves the way for an expansion of its exploration activities across a major mineralised shear structure at its Central Gawler Craton gold project in South Australia’s venerated Gawler Craton region. The Perth-based company will now be able to test a bevy of “high-priority” prospects within its massive project landholdings, one of which has already returned bonanza gold drill intersections.

The native title agreement – with the Antakirinja Matu-Yankunytjatjara Aboriginal Corporation – speaks to 16 of Indiana’s tenements that cover most of the gold-bearing Lake Labyrinth Shear Zone.

The Lake Labyrinth Shear Zone takes in several of the company’s exploration targets including the Ariadne, Partridge, Company Well, North Hicks and Minos prospects.

The exciting Minos prospect has been coughing up some spectacular drill numbers in 2021, with the company having just completed a follow-up reverse circulation program comprising 16 holes for an aggregate drilling coverage of 2,196m.

Indiana says the second, latest round of drilling at Minos was designed to infill historic and more recent drill patterns and test the north-west and south-east strike extent of the known mineralised zone.

Assay results are now pending.

The company previously sunk 10 RC drill holes totalling 1,596m into Minos during the March quarter this year.

High-grade gold RC drill intersections from that first program included a cracking 38 metres grading an average 6.54 grams per tonne gold from 29m including 16m at 13.12 g/t from 37m and 5m going 24.35 g/t from 106m including 2m at 59 g/t from 106m.

Other stellar Minos drill hits among a clutch of encouraging intercepts were 3m at an average grade of 18.33 g/t gold from 189m including 1m at 42.1 g/t from 190m, 26m at 4.28 g/t from 68m including 3m at 20.21 g/t from 82m.

Another 22m intersection graded 3.07 g/t from 125m including 1m at 23 g/t from 142m.

Indiana Resources Executive Chairman, Bronwyn Barnes said: “I look forward to working with (the Antakirinja Matu-Yankunytjatjara Aboriginal Corporation) to undertake the required heritage clearances to facilitate exploration in this exciting mineral province.”

“With over 30km of potential strike, the Lake Labyrinth Shear Zone has always been a major exploration focus for the Company, and we look forward to building on our initial exploration success at Minos as we expand our exploration footprint within the Gawler Craton.”

Indiana’s Central Gawler Craton gold project area spans a whopping 5,090-square kilometres.

The company plans to kick off a further, expanded campaign of RC, diamond and aircore reconnaissance drilling at Minos soon that will consist of three diamond holes totalling about 500m, 15 RC holes totalling 2,000m and approximately 3,600m of aircore along strike of Minos.

 

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au 

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