Indiana Resources Limited - Significant High-Grade Gold - Central Gawler Craton

About this update from Indiana Resources Limited

Indiana Resources Limited (ASX: IDA) (' Indiana ' or the 'Company') is pleased to report assays results from the Reverse Circulation (RC) drilling campaign completed at the Minos Prospect within Indiana's 100% owned 5,713 km2 Central Gawler Craton Gold Project in South Australia . A total of five (5) drill holes for 732m were completed at Minos in June 2024 , with the programme primarily designed to test the previously identified northwest parallel zone (12m @ 9.06g/t Au and 16m @ 3.43g/t Au ASX announcement 13 Feb 2023 ) and tighten the existing drill density of the main Minos mineralisation. The holes targeted the new parallel structure and intersected additional high-grade mineralisation strengthening confidence in the continuity of gold zones at the Minos Prospect within the Lake Labyrinth Shear Zone (LLSZ). Importantly, Minos remains open across strike, along strike in both directions and at depth with further drilling planned to be undertaken in September 2024 . Company Comment - Executive Chair Bronwyn Barnes : ' Minos continues to deliver strong, high grade gold results that demonstrate parallel lode repetitions across strike and to the south of the prospect area, and remains open in all directions. With the Company now strongly funded, we will be accelerating exploration activity at Minos, and across the broader LLSZ project area, over the coming months. Assay results for REE and at Hopeful Hill remain outstanding. A further announcement will be made when these results are received and collated.' I look forward to seeing the full value of our projects in the Central Gawler Craton demonstrated for shareholders in the future, and we will be releasing details of our expanded exploration programme in due course. As we ramp up exploration activity we expect strong news flow in the foreseeable future. The June 2024 RC drilling programme at Minos comprised five (5) drill holes (24LLRC001 to 24LLRC005) for a total of 732m and was designed to infill the main structure plus test the new parallel zone to the south. Drilling intersected multiple significant zones of veining, shearing and alteration corresponding with the planned target zones. The results received from the June programme confirm the Company's geological interpretation and reinforces the LLSZ as a major gold bearing system. Significant results include Gold mineralisation at Minos remains open along strike in both directions and at depth. Drilling to date has outlined a 600-metre strike extent of shallow, near-surface gold mineralisation. Significantly the intercepts in 24LLRC003 and 24LLRC005 confirm a new zone of high-grade mineralisation that remains openIndiana is planning to recommence RC drilling at Minos to increase the understanding of the scale of the LLSZ potential. Auger soil geochemistry in the Minos-Ariadne-Company Well corridor is also being planned to test both across and along strike for additional drill targets. This announcement is authorised for release to the market by the Executive Chairman of Indiana Resources Limited with the authority from the Board of Directors. Contact: Tel: +61 (0) 417 093 256 (C) 2024 Electronic News Publishing, source ENP Newswire

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