.TXT File loading error

I'm having an error with this script, which should load a .txt file, read in each line, and seperate that line into 7 variables. Have a look:

    StreamReader sr = new StreamReader(Application.dataPath + "/" + "model.3dl");
    string fileContents = sr.ReadToEnd();

    string[] lines = fileContents.Split('

    for (int j = 0;j<lines.Length;j++) {
        string[] loadData = new string[7];
        loadData = lines[j].Split(':');

Now, whenever I run the game, I get this error:

IndexOutOfRangeException: Array index is out of range.

Which points me to the Debug.Log line in the above script. Said script looks fine to me, perhaps I just need another pair of eyes to point out the problem. It's somewhat derived from the helpful answer to this question, with the exception that I converted it from JS to C#.

If the solution is biting me on the nose, please don't hesitate to tell me. If it's not so obvious, tell me anyways. I just want it to work. :)

If you hit a line with no colons in it then Split will return an array of length 1, in which case loadData[1] will be off the end of the (0-based) array. String.Split return a new array, so there's no need to initialize loadData.