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Large coherent gold soil anomaly discovered at Naujombo

11.07.2017  |  FSCwire
- New gold target identified at Naujombo South
- Drilling completed at Naujombo South
- Drilling programs on hold pending review of Tanzanian Government legislative changes


West Perth - Indiana Resources Limited (ASX: IDA) (“Indiana”) is pleased to announce the discovery of a significant gold-arsenic soil anomaly at the Naujombo Gold Prospect (Figure 1) with a peak value of 503 ppb Au (0.5 g/t Au)

The anomaly, as defined by the 90ppb contour, is 650m to 800m long and between 100m and 200m wide and is along strike from the extensive, coherent, previously identified Naujombo gold-in-soil anomaly, which measures 9.5km by 1km (Figure 2).

The anomaly is defined by a number of assay results in excess of 100 ppb Au and is coincident with a large arsenic soil anomaly that has been identified by pXRF analysis.

Figure 1: Naujombo South soil sampling results
https://www.fscwire.com/sites/default/files/NR/740/17607_indianaimage1a.jpg

Drilling was recently completed at Naujombo Central and the drill rig was relocated to the newly identified anomaly at Naujombo South and drilled three lines across it for reconnaissance purposes. This drilling has now been completed, with samples drilled to date being compiled for dispatch to Mwanza where they will be assayed. Assay results are expected to be received in August.

Indiana’s Managing Director, Campbell Baird, commented “This is an early-stage gold target which is exceptional by any standards. The region continues to demonstrate its potential for significant gold discovery opportunity at the Naujombo and Kishugu anomalies.”

The anomaly is coincident with an interpreted structural offset in the regional geology as seen in the magnetics, potentially due to a buried intrusion to the south. Such flexures in mineralised structures have a positive association with gold deposits.

Indiana is very pleased with its ongoing exploration results at Naujombo and Kishugu, with both projects continuing to demonstrate that they have the capacity to provide potential world class discoveries.

With the completion of the reconnaissance drilling at the Naujombo South anomaly, Indiana has directed the drilling contractor to cease drilling and to demobilise the rig despite only 20% of the planned program for Naujombo and Kishugu having been completed.

Indiana remains committed to exploring and developing in Tanzania and contributing to the unlocking of the mineral resources of Tanzania for the benefit of all Tanzanians. Notwithstanding that commitment, with the current uncertainty associated with the Proposed Legislation, Indiana has decided that for the time being, it is prudent to cease its exploration activities until it is able to fully engage with the Tanzanian Government to understand the full impacts of the proposed Legislation.

Figure 2: Naujombo Gold Project – size and extent of anomaly
https://www.fscwire.com/sites/default/files/NR/740/17607_indianaimage3a.jpg


Competent Person’s Statement

Information relating to exploration results at the Naujombo Gold Prospect reported in this announcement, is based on data collected under the supervision of Mr. Nick Corlis, in his capacity as Technical Manager. Mr. Corlis, BSc (Hons) MSc, is a registered member of the Australian Institute of Geoscientists and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and the activity being undertaken to qualify as a Competent Person in terms of the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (‘JORC 2012’). Mr. Corlis has verified the data underlying the information contained in this presentation and approves and consents to the inclusion of the data in the form and context in which it appears.


About Indiana Resources

Indiana is an Australian minerals exploration company that holds a 901 km2 tenement package in southeast Tanzania. The Company’s tenement package hosts the Ntaka Hill Nickel Project and the Kishugu and Naujombo Gold prospects. To find out more, please visit www.indianaresources.com.au.


Campbell Baird
Managing Director



For further information, please contact:

Campbell Baird, Managing Director
Indiana Resources Limited
Tel: +61 8 9388 7877

Stuart McKenzie, Commercial Manager and Company Secretary
Indiana Resources Limited
Tel: +61 8 9388 7877



APPENDIX A. JORC 2012 Table 1 Reporting
Section 1. Sampling Techniques and Data
Section 2. Reporting of Exploration Results

https://www.fscwire.com/newsrelease/large-coherent-gold-soil-anomaly-discovered-naujombo
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