Indiana Resources Limited (ASX: $IDA) drilling update

Indiana Resources Limited (ASX: $IDA) has commenced drilling at the Minos Prospect in South Australia as part of a combined Rare Earth Elements (REE) and gold programme. The programme aims to extend and confirm the known gold and REE target zones at Minos, with additional drilling at Hopeful Hill. The company expects the combined programme to be completed in 8-10 days, with assay results anticipated in August 2024.

Executive Commentary on Drilling Programme

Having spent considerable time reviewing historic results across the South Australian tenement package, we are pleased to be back on the ground drilling at Minos. The drilling to date has delivered a number of impressive gold and rare earth targets, and this programme has been designed to extend the discovery zones. Results from this programme will support the expansion of our exploration programme for the remainder of the year as we continue to focus on the REE and gold mineralisation at Minos. We are also very pleased to have received further exploration approvals from the Government of South Australia which will enable us to advance activities at high priority areas of Moolkra, Double Dutch, and Hopeful Hill. These target areas host historic high-grade gold intercepts which we have been unable to access until now. We will now progress discussions with native title parties to support land access and progress technical work to plan future exploration programmes at these areas.

Summary of Drilling Programme and Future Prospects

Indiana Resources Limited (ASX: $IDA) has initiated a drilling programme at the Minos Prospect to extend known mineralisation and confirm high-grade targets for both Rare Earth Elements (REE) and gold. The company anticipates assay results in August 2024 and has received approvals for further exploration in high priority areas of Moolkra, Double Dutch, and Hopeful Hill. The successful results from this programme will support the expansion of the company's exploration programme for the remainder of the year, focusing on REE and gold mineralisation at Minos. Indiana Resources aims to progress discussions with native title parties to support land access and advance technical work for future exploration programmes at these areas.