Iltani Resources (ASX:ILT) is conducting follow-up exploration after results returned up to 17.3% antimony at the Antimony Reward deposit, part of the Herberton Project in northern Queensland.
A site visit was recently completed, where the company visually confirmed the presence of multiple drillhole collars from the Kangaroo Metals drilling program.
Iltani, which has a market capitalisation of $7 million, had begun planning a follow-up drilling program to confirm the presence of high-grade antimony mineralisation, and to test the multiple targets at Antimony Reward.
The company is also seeking to align the proposed Antimony Reward drilling with the next phase of drilling at the Orient Silver-Indium Project to make more efficient use of drill rigs and support staff, which in turn will reduce costs.
Managing Director Donald Garner says the company is “examining potential drill targets at Antimony Reward with the aim of aligning drilling at Antimony Reward with the next phase of drilling planned for our nearby Orient Silver-Indium Project, which will be more efficient use of our resources and save on mobilisation and demobilisation costs.”
Iltani adds that the “high-grade” antimony mineralisation is open down dip and along strike and represents a high priority drill target.
During 2008, drilling at Antimony Reward returned intersections including 3m @ 3.49% antimony, including 2m @ 5.51% antimony and 12m @ 2.73% antimony, including 2m @ 11.93% antimony.
Garner says that with the antimony price increasing to US$23,500 per tonne, plus the recently announced ban on Chinese exports, it is considered a good time to revisit the deposit.
“The high-grade antimony mineralisation drilled in 2008 returned up to 17.3% antimony and is open down dip and along strike, representing a compelling drill target.”
The Herberton Project, which includes the Antimony Reward deposit, lies 25km from the Orient Project in northern Queensland.
Iltani Resources is a base metals and critical minerals explorer focused on the resources needed to create a low emission future. The company has projects in Queensland and Tasmania.
Write to Aaliyah Rogan at Mining.com.au
Images: Iltani Resources
