Minos Drilling Yields 71 g/t Gold and Broad Silver Halo, Indiana Advances Exploration

Strong Gold Continuity at Depth

Indiana Resources Limited (ASX, IDA) has released compelling assay results from its ongoing exploration at the Minos Gold Project, located in South Australia's Gawler Craton. The latest diamond drilling has confirmed that the fertile gold mineralisation, which underpins the shallow Minos discovery, extends significantly at depth. Highlights include intercepts such as 10.83 metres at 1.75 grams per tonne (g/t) gold from 219 metres, and a standout 1 metre at 71 g/t gold from 140 metres, underscoring the prospect's high-grade potential.

Silver Emerges as a Significant Byproduct

Beyond gold, the assays have revealed a broad silver halo surrounding the more constrained gold zones. Silver grades reaching up to 68.8 g/t over narrow intervals suggest a valuable secondary mineralisation that had been historically underexplored at Minos. Indiana plans to re-assay historical samples to better understand the silver potential across the project, which could enhance the overall economic viability of the deposit.

Expanding the Footprint with Air-Core Drilling

In line with its hub and spoke development model, Indiana has commenced a 7,000-metre air-core drilling program targeting the Ariadne and Company Well prospects, situated immediately south of Minos. These areas have shown strong gold anomalism in recent calcrete sampling, with peak results up to 3 grams per tonne gold. Despite a brief pause due to heavy rains, drilling has already progressed over 1,500 metres, aiming to delineate new zones of mineralisation that could complement the Minos resource.

Financial Strength Supports Aggressive Exploration

Indiana Resources remains well-capitalised with $35 million in cash reserves and no debt, providing a solid financial foundation to advance its exploration programs. Managing Director Matthew Bowles emphasised that the recent drilling success validates the company’s strategy to grow the Minos Gold Project and expand its footprint through systematic exploration of adjacent prospects.

Outlook and Strategic Implications

The confirmation of high-grade gold mineralisation at depth, coupled with significant silver findings, positions Minos as a promising asset within the Central Gawler Craton. The ongoing drilling at Ariadne and Company Well could unlock further value, potentially establishing a multi-asset hub that leverages shared infrastructure. While true widths of mineralisation remain to be determined, these results provide a strong foundation for future resource estimation and development planning.