Highlights • HeliTEM 2 airborne electro-magnetic (EM) survey...

Highlights
• HeliTEM 2 airborne electro-magnetic (EM) survey underway across the Hopeful Hill
Greenstone Belt
• The Hopeful Hill Greenstone Belt is part of the Harris Greenstone Domain (HGD), the
only known occurrence of Archean komatiite outside WA
• Technical review completed by Dr Jon Hronsky AOM identified the Hopeful Hill
Greenstone Belt as having potential for both Zn and Ni mineralisation
• Co-funding grant received from South Australian Government for $255,000 to support
exploration activities across the Hopeful Hill Greenstone Belt
Indiana Resources Limited (ASX: IDA) (‘Indiana’ or the ‘Company’ is pleased to report that a
HeliTEM 2 airborne electro-magnetic (EM) survey has commenced at the Hopeful Hill Greenstone Belt
within Indiana’s 100% owned 5,713 km 2 Central Gawler Craton Gold Project (‘Project’ in South
Australia.
The 323km 2 HeliTEM2 survey will cover a cumulative strike of 38km of the Hopeful Hill Greenstone Belt
and focus on the area which to date has demonstrated the greatest potential for zinc and nickel
mineralisation.
The HeliTEM 2 survey is funded by the grant from the South Australian Government through the
Accelerated Discovery Initiative (‘ADI’ (see ASX announcement 21 June 2022). The grant followed
the completion of an assessment of Indiana’s Project for base metal mineralisation and a high-level
review completed by Dr Jon Hronsky AOM, a leading industry expert. The review completed by Dr
Hronsky AOM identified the prospectivity for Volcanogenic Massive Sulphide (‘VMS’ zinc-copper
mineralisation within the HGD along with a recommendation to fully assess the nickel-sulphide
potential. The key findings from Dr Jon Hronsky’s report are highly encouraging – including the
identification of a large-scale, 17km, east-west striking zone of zinc anomalism.
The Company will also undertake a detailed review of the nickel-sulphide potential which is likely to
initially include additional areas or flight lines for the HeliTEM survey. It is anticipated that the survey
may identify bedrock conductors that could be a response from massive sulphide mineralisation.
Company Comment – Chief Executive Officer Richard Maish said:
“Indiana’s 100% owned Central Gawler Craton Project contains multiple potential project areas.
With work progressing on the REE and Gold exploration projects, I am looking forward to the results
of this survey with the objective to drill test any exploration targets that are identified. Given the
large scale zinc anomalism that has been identified within the HGD, the southern zone of our project
area has the real potential to host a new base metals province. The HeliTEM survey will expand our
level of knowledge, and I thank the South Australian Government for their support of our exploration
activities in this exciting, underexplored region.”