Indiana Resources Targets Shallow Gold at New Ealbara Prospect

Indiana Resources (ASX:IDA) is preparing to drill a new shallow gold target at the Ealbara prospect in South Australia's Gawler Craton Project. The anomaly runs over seven kilometres in interpreted bedrock calcrete and sits along a northeast-southwest trending structure corridor, which managing director Matthew Bowles called an "outstanding undrilled gold target."

The company is pushing to start drilling as soon as heritage clearances come through. Talks with traditional owner groups continue to expand access for the next phase of regional exploration.

Bowles told shareholders that historical soil data reanalysed with discriminant analysis suggests the gold anomaly comes from bedrock mineralisation, not transported calcrete. The company merged the large historic calcrete dataset with regional geology and magnetics to reach that conclusion.

Field work is already ramping up. RC drilling begins in the coming weeks at Indiana's Company Well and Minos gold prospects. The Ealbara drill program will follow once clearances are secured.

The Ealbara target sits inside a structural setting the company considers highly prospective for gold, and Bowles said the find demonstrates the quality of prospects in Indiana's regional pipeline.

For context on metals exploration plays, see AlphaScala's commodities analysis.

IDA carries an Alpha Score of 41 out of 100, classified as Mixed, in the Utilities sector.