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Indiana Resources (ASX:IDA) Confirms REE Discovery at Central Gawler, SA – The Market Herald

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  • Indiana Resources (IDA) Reports Significant New Rare Earth Element (REE) Mineralization at Its Wholly Owned Central Gawler Project in South Australia
  • Company receives final assays from 36 core holes completed in 2021, confirming thick concentrations of REE accumulations along eight strike kilometers
  • Air core samples were originally analyzed for gold last year, but Indiana has now analyzed them for the full suite of heavy rare earth elements
  • The company says it will continue to review the data to better characterize the mineralogy of the REE mineralization and better understand its geographic extent.
  • Indiana Resources shares are up 1.49% at 6.8 cents at 10:49 a.m. AEST

Indiana Resources (IDA) has reported significant new rare earth element (REE) mineralization at its wholly-owned Central Gawler project in South Australia.

The company has received final assays for 36 core holes drilled for the first time in 2021. Indiana initially assayed those holes for gold, but has now assayed them for the full REE suite.

The assays returned up to 5290 parts per million (ppm) of total rare earth oxides (TREO) and 2775 ppm of mixed rare earth oxides (MREO).

Some of the best results include 33 meters at 1218 ppm TREO from 44 meters, including eight meters at 3202 ppm TREO from 56 meters, as well as 19 meters at 2166 ppm TREO from 36 meters, including four meters at 4334 ppm TREO and 1416 ppm MREO from 48 meters.

Indiana CTO Felicity Repacholi-Muir said the “outstanding results” confirm a large-scale, high-quality REE discovery at the Central Gawler Project, and the company has “reach immense” to immediately expand a targeted REE program to thoroughly assess the potential. of his landed property.

“Planning has begun to undertake regional air drilling to further assess the regional distribution of REE mineralization,” Ms. Repacholi-Muir said.

“In addition, we are currently investigating the most appropriate mineralogical and metallurgical test work to characterize the style of REE mineralization and determine the processes available to maximize REE recovery from the host material.”

She said the company would undertake this work in conjunction with its already planned gold exploration activity in the area.

The company said it continues to review new data to better characterize the mineralogy of REE mineralization and to deepen its understanding of the vertical zonation and extent of REE mineralization discovered to date.

Currently, the company is awaiting gold assay results from reverse circulation drilling completed in August on the Minos Gold prospect, expected in October.

Indiana Resources shares rose 1.49% to 6.8 cents at 10:49 a.m. AEST.