Indiana Resources Limited announced that it has received the first results from the Air Core (AC) drilling program completed in December 2022
at the Minos REE Prospect within Indiana's 100% owned 5,713 km2 Central Gawler Craton Exploration Project (CGCP) in South Australia. The December AC program comprised 72 holes completed for a total of 3,251m. Assays from the first 3 holes have been received and results confirm that the REE mineralisation extends approximately 1.2 km Southwest from the already identified Minos REE trend. Results from the remaining holes are expected in late February 2023 due to constraints at the assay laboratory. Highlights: Initial assay results confirm significant REE mineralisation 1200m south of Minos trend. 23m thick zone of TREO enrichment in weathering profile. Significant REE clay hosted intersections include: 17m @ 1,619ppm TREO from 64m (LLAC082) including, 14m @ 509ppm MREO from 67m including, 2m @ 2,597ppm TREO and 900ppm MREO from 71m. 23m @ 1,373ppm TREO from 32m (LLAC081) including: 8m @ 638ppm MREO from 37m including, 1m @ 4,431ppm TREO from 38m and 1m @ 1086ppm MREO from 38m and, 2m @ 1122ppm MREO from 43m. 23m @ 734ppm TREO from 34m (LLAC080) including 3m @ 1,047ppm TREO from 48m. New zone contains high grade clay hosted TREO with a significant MREO component. High grade MREO (>300ppm) horizontal layer present similar to NW end of Minos. Remaining Phase 1 Minos REE assay results (69 holes) expected end February 2023.