Indiana Resources Limited announced that 1,035 sample pulps from a further 72 aircore (AC) drillholes were submitted for the full suite of REE assay following the confirmation of REE mineralisation within Indiana's 100% owned 5,713 km2 Central Gawler Project in South Australia. An initial batch of sample pulps from 6 holes drilled in 2021 were submitted for the full suite of light and heavy REEs (Total REE) and returned significant values up to 15,486ppm (1.55%) TREO. The analysis of these 72 drill holes will better characterise the extent and tenor of REE mineralisation and assist with refining target areas for follow-up drill testing. The additional assay results are expected within the next 4-6 weeks depending on turnaround time at the laboratory. Work is now in progress to collect additional data to define the distribution of the different rare earths in the weathering profile and to identify any underlying potential bedrock lithological or structural controls on the distribution of the mineralisation. Importantly, the broader historic rare earth results along the Lake Labyrinth Shear Zone (LLSZ) suggest that a 10km corridor is prospective. Additional
targets are also present at the Hicks Well Prospect and about 4km west of the Company Well Prospect which may potentially be part of a structure parallel to the northwest trending LLSZ. Previous magnetic and electromagnetic imagery over the Project will be interpreted to map out deeper regolith profiles, settings favourable for REE accumulation. The assay results for the samples from the six (6) drill holes were reported in August 2022. These holes are located adjacent to historical drill holes with significant but incomplete suite of REE results. The assays confirmed the presence of significant TREO values. Notable intersections (above a 300ppm TREO grade) included: 48m @ 1,948ppm TREO from 20m (LLAC012): including 16m @ 4,830ppm TREO from 24m; including 4m @ 15,486ppm (1.55%) TREO from 28m; 49m @ 720ppm TREO from 20m (LLAC015): including 12m @ 1,277ppm TREO from 28m; 40m @ 769ppm TREO from 20m (LLAC011)& including 4m @ 1,000ppm TREO from 40m.