Iltani Resources (ASX:ILT) in early April expects a second drill rig to arrive on site at the Orient Silver-Lead-Zinc-Indium Project in Queensland, after completing the first five holes of an infill drilling program.
The second rig, which will begin infill drilling at Orient East, has been delayed due to regional inclement weather and flooding.
The track mounted reverse circulation drill rig completed 1,052m of drilling and the first batch of samples have been dispatched for assaying. The results are expected to be returned between four to six weeks.
Managing Director Donald Garner says the Orient East program is two weeks later than originally planned, however the delay is not expected to materially affect the overall drilling program.
Iltani, which has a market capitalisation of $11.73 million, says the data generated from the programs will be used by independent mining consultant Mining One to model and estimate the initial resource estimates for the Orient West and East deposits.
The resource estimates are expected to be delivered in Q3 2025.
Iltani will also seek to grow the Orient deposit targeting Orient North and Orient South, as well as the mineralisation undercover between Orient West and East.
The Orient Project is an “extensive precious metal-rich epithermal system” with a likely intrusion at depth and has strong similarities to the large-scale Bolivian silver-zinc-lead-indium-tin systems.
Iltani Resources is focused on discovering and developing critical minerals for a clean energy future.
Silver bottomed at US$30.12 an ounce by the end of November 2024 and has recovered some of its losses to fetch around US$34 currently. The white metal has a reputation for being used in jewellery and coins, but silver’s primary use today is predominantly industrial. From smartphones to solar panels, new innovations are constantly emerging to take advantage of silver’s unique properties.
Indium is most commonly recovered from the zinc-sulphide ore mineral sphalerite. The indium content of zinc deposits from which it is recovered ranges from less than one part per million to 100ppm. China is the leading producer and exporter of indium globally, meaning there is demand for Western mines to come online to reduce reliance on China’s supply.
Indium is classed as a strategic and critical mineral, based on its uses in multiple high-tech devices such as touchscreens, flat screen displays, solar panels and microchips, plus its aerospace and defence applications.
Write to Aaliyah Rogan at Mining.com.au
Images: Iltani Resources
