Indiana Resources Limited (ASX:IDA) announcement highlights

Indiana Resources Limited (ASX:IDA) has received assay results from eight Reverse Circulation (RC) drill holes completed in June 2024 at the Minos REE Prospect within Indiana's 100% owned 5,713 km2 Central Gawler Craton Exploration Project in South Australia. The latest drilling assays confirm the continuity of high-grade Rare Earth Elements (REE) mineralisation at Minos, with up to 35m thick zone of Total Rare Earth Oxide (TREO) enrichment in the weathering profile. The company is pleased to report significant REE clay hosted intersections, indicating a target area of 6.0km long by 4.5km wide open in all directions with up to 40m thick TREO enrichment layer in the weathering profile. Future work programs will include infill RC, metallurgical diamond drilling, and hydrometallurgical test work.

Executive Chair Bronwyn Barnes on Minos REE Prospect

Minos continues to demonstrate its potential to host both high-grade REE and gold mineralisation, with these latest drilling results confirming the high-grade and continuity of the REE mineralised zone in focus. Supported by the recent beneficiation test results, the REE potential at Minos is clear, and we are planning drill programs for November that will follow up both gold and REE potential and will be looking to expand our knowledge of Minos and the broader Lake Labyrinth Shear Zone.

Summary of Indiana Resources Limited announcement

The assay results from the Minos REE Prospect confirm the continuity and lateral extent of the REE mineralisation, with a target area of 6.0km long by 4.5km wide open in all directions. Indiana Resources Limited (ASX:IDA) has outlined upcoming catalysts, including Met Test Work Update in September 2024, Hydrometallurgical Test Work Update in November 2024, and REE metallurgical sample diamond drilling in Q4 2024. The company's focus on advancing a portfolio of tenements, including rare earths, gold, and base metals, in the highly prospective Central Gawler Craton Province in South Australia, positions it strategically for growth and exploration opportunities.