South Australia’s Gawler Craton is becoming a hotspot for...

South Australia’s Gawler Craton is becoming a hotspot for acquisition activity with Indiana Resources (ASX: IDA) and Latitude Consolidated (ASX: LCD) picking up exploration territory in the gold province.This is hot on the heels of a $2m-2.6m bidding war that broke out Friday between Alliance Resources (ASX:AGS) and Marmota (ASX:MEU) for Tyranna Resources’ (ASX:TYX) Jumbuk gold project, also in the Gawler Craton.Indiana has signed a deal to acquire 14 exploration licences and one mining licence in the central Gawler Craton, covering 2,660sqkm, from unlisted Australian explorer Patron Resources.“This acquisition delivers a strategic and advanced exploration package in a region that has historically producing mines and strong recent exploration success,” executive chair Bronwyn Barnes said.“Importantly, this transaction allows Indiana to actively explore in this exciting and low-risk region at a time of record gold prices.” Historic gold mining centresThe exploration ground has early stage to advanced targets located between the historic mining centres of Tarcoola and Tunkilla where historic production and current resources sit at around 190,000oz of gold.Indiana’s new tenements contain the majority of highly prospective Archaean Harris Greenstone Belts, similar in style to the WA greenstone belts, with significant potential for gold and base metals.Historic intercepts reported from the area include 12m at 10.36 grams per tonne (g/t) gold at Minos and 4m at 10.2g/t gold at Earea Dam.The company successfully raised $892,000 from a rights issue in July that was three times oversubscribed.Indiana has identified several promising targets on its new tenements and is reviewing data to map out a drilling program.Private company Barton Gold owns the Challenger gold deposit located 150km northwest of Indiana’s new exploration tenements, and Barton is preparing to restart the Tarcoola gold mine.The Challenger gold deposit has historic production of 1 million ounces of gold.