Iltani Resources (ASX:ILT) has delivered a maiden resource for the Orient East silver-indium deposit, part of the broader Orient Project in Northern Queensland.
Orient East’s resource contains 19.8 million tonnes @ 98 grams per tonne silver-equivalent, with a higher grade core of 12.6 million tonnes @ 128g/t silver-equivalent.
As a result, the Orient Project’s overall resource has increased to 62.5 million tonnes @ 81.5g/t silver-equivalent, with a higher grade core of 34.2 million tonnes @ 110.4g/t silver-equivalent.
Managing Director Donald Garner says there is potential to materially increase the Orient resource but firstly, the company is focusing on converting the remaining exploration target to resources.
“To this end, Iltani has just completed the initial drill program targeting multiple shallow versatile time-domain electromagnetic anomalies at Orient,” Garner says.
“A total of 10 reverse circulation drillholes were completed and samples have been submitted to the lab, with assays pending.”
The Orient East exploration target ranges between 10.9 to 13.3 million tonnes @ 64 to 108g/t silver-equivalent, with a higher grade core of 6.5 to 7.9 million tonnes @ 120 to 147g/t silver-equivalent.
All mineral resource areas at Orient remain open.
Garner adds all of this activity is supported by an $8 million investment from the Queensland Investment Corporation, which enables Iltani to begin permitting and application work to advance the current resource towards production.
To date, Iltani has defined an extensive epithermal vein system extending over at least 6km2 and hosted primarily in a porphyritic rhyolite unit at the Orient Silver-Indium Project.
Iltani Resources is a critical minerals explorer and developer focused on building an Australia-based portfolio of projects.
Write to Aaliyah Rogan at Mining.com.au
Images: Iltani Resources
