Company Overview

Company Overview

About Indiana

Indiana Resources (ASX:IDA) is a gold focused Australian exploration company with a strategic position in western Mali and a significant development asset in the Ntaka Hill Nickel Sulphide deposit in south-eastern Tanzania.

The Malian projects consist of the Koussikoto Ouest, Kenieko Nord and Kossanto West licences which are located in the well-endowed Kenieba Province of western Mali, approximately 550 km west of the capital city of Bamako. Indiana is looking to aggressively grow its Malian portfolio going forward.

The Tanzanian projects include the Ntaka Hill Nickel Sulphide deposit and surrounding tenements. The company is actively seeking partners for its Tanzanian assets.

Koussikoto Ouest Project – Gold

  • Assays from reconnaissance drilling produced highly encouraging results including:
    • 8m @ 3.37 g/t Au, from 12m
    • 5m @ 4.86 g/t Au, from 12m
    • 4m @ 2.16 g/t Au, from 4m
    • 8m @ 3.00 g/t Au, from 16m, ending in mineralisation
  • The licence hosts extensive artisanal gold workings and significant historical drill and trench results
  • Licence is located on the Main Transcurrent Zone which is a controlling structure hosting a combined 8 million ounces of Gold

Kenieko Nord Project – Gold

  • 2km anomalous strike length of gold-in-soil identified
  • Initial drilling yielded broad low-grade results at either end of the anomaly
  • Access to drill restricted by active artisanal mining over the central anomaly
  • Follow up drilling planned in future campaigns
  • The licence is located near to the Senegal-Mali Shear Zone which hosts the world class Sadiola and Yatela mines with a combined 17 million ounces of Gold

Kossanto West Joint Venture – Gold

  • A Joint Venture between Indiana and Caracal Gold, a wholly owned subsidiary of Cradle Arc PLC
  • 137km2 licence package with previous exploration work including mapping, soil geochemistry and drilling
  • Significant results from previous exploration:
    • 15m @ 10.12 g/t Au, from 14m
    • 6m @ 7.84 g/t Au, from 24m
    • 10.2m @ 2.50 g/t Au, from 38.8m
    • 17m @ 1.69 g/t Au, from 34m
  • Data from these licences suggests a potentially mineralised trend extending into western Koussikoto

 

2A. ida012_Nach_GreaterRegional_Prospects