Iltani Resources’ (ASX:ILT) recent high-grade silver hits appear to have spurred some more on market buying from the junior explorer’s chairman and managing director.
Chairman Anthony Reilly and Managing Director Donald Garner have acquired a further 105,500 shares between them, for around $19,000.
Reilly now directly holds 250,000 shares and indirectly holds 500,000 shares, 2 million options exercisable at $0.30 before 22 June 2026, and 2 million options exercisable at $0.40 before 22 June 2027.
Garner, meanwhile, directly owns 76,923 shares, 2.4 million options exercisable at $0.30 before 22 June 2026, as well as 33.35 million options exercisable at $0.40 before 22 June 2027, and indirectly owns 3.17 million shares.
Garner is Iltani’s largest shareholder. Board and management collectively own over 9% of the company.
Last week, Iltani revealed it had hit 420 grams per tonne (g/t) silver-equivalent in a deep drill hole at its Orient Silver-Indium Project in northern Queensland.
The deep diamond drillhole was designed as a ‘wildcat’ hole to test a deeper magnetic anomaly at Orient West combined with the surveys.
Iltani, which has a market capitalisation of $7.5 million, previously outlined an initial exploration target of 74-100 million tonnes @ 55-65g/t silver equivalent for the Orient West Prospect.
This includes a “high-grade” target of 20-24 million tonnes @ 110-120g/t silver equivalent.
Write to Angela East at Mining.com.au
Images: Iltani Resources
