Impressive Indiana results consistent with highly prospective area

By Trevor Hoey. Published at Jul 15, 2019, in Mining

Indiana Resources Ltd (ASX:IDA) has released the first phase of assay results from its recently completed reverse circulation (RC) drilling programme at the Koussikoto Ouest Licence, at the southern end of its West Mali Gold Project.

A 1740 metre RC drilling programme was recently completed comprising 24 holes, and results for 16 of the 24 holes have been received to date, with the results for the remaining 8 holes expected in the near term.

Results to date have identified two new significant zones of mineralisation at anomalies A5 and A7 North as indicated below.

IDA has identified two new significant zones of gold mineralisation.

Mineralisation at anomaly A5 is hosted within Greywacke within a moderately west-dipping structure, with a best result returned of 2 metres at 12.3 g/t gold from 44 metres.

At anomaly A7 north, two holes following up an initial aircore result of 5 metres at 4.9 g/t gold intersected multiple lodes of moderately west-dipping mineralisation hosted within a quartz porphyry.

Significant intersections returned included 8 metres at 1.4 g/t gold from 15 metres, and 12 metres at 1.1 g/t gold from 30 metres in hole, and 2 metres at 5.5 g/t gold from 28 metres, and 5 metres at 2.3 g/t gold from 37 metres in a hole that was drilled further down-dip.

Licence area surrounded by multi-million ounce projects

Indiana’s project is situated in a highly prospective area which includes outstanding discoveries and mines with multi-million ounce production profiles as indicated below.

IDA's project is surrounded by several outstanding discoveries.

Highlighting the promising nature of these results and their significance in shaping future exploration activity, Indiana’s chair, Bronwyn Barnes said, “These initial results are a solid endorsement of the prospectivity of the West Mali Gold Project area.

‘’We look forward to receiving the results for the remaining holes and the soil geochemistry programme.

“This will enable our team to review existing data combined with the new data sets and design follow up exploration activity.”

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

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S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

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