Iltani Resources (ASX:ILT) will begin drilling at its Antimony Reward Project in northern Queensland this week to follow up prior sampling results grading up to 46.5% antimony.
The drill rig is now mobilised to site, with an initial 1,500m, 10-hole reverse circulation program targeting the “high-grade” antimony mineralisation to begin on 5 October.
Previous mapping and sampling returned an average grade of 16.2% and a peak result of 46.5% from Vein System 1, an average grade of 10.9% and a top result of 17.7% from Vein System 2.
Managing Director Donald Garner says Iltani is “eager to see what the drill bit will deliver”.
“The initial drilling program should take approximately 10 days to complete. Whilst we are awaiting the assay results, the drill rig will move 17km along the road to our exciting Orient Project to continue to drill and expand this exceptional silver-indium system,” he says.
“Using assay results from the Antimony Reward drilling we can plan what to do next, and subject to results, we could move the drill back from Orient to Antimony Reward for another round of drilling before we demobilise for the wet season.”
The “high-grade” results from the Antimony Reward Project extend beyond the zone of historical drilling on the Vein System 1, which has a strike extent of 500m so far, while Vein System 2 has a current strike extent of 300m and has never been drilled.
Antimony Reward was previously drilled in 2008, but only tested 200m of the strike extent of Vein 1.
Iltani recently boosted its coffers by $2.1 million to accelerate antimony and silver exploration.
Not a well-known metal, antimony is largely used as flame-retardant, but is increasing in value and demand for its use in solar panels and batteries.
As a result it is considered a critical mineral by several countries and in September averaged around US$25,450 ($36,979) a tonne, with prices nearly doubling since the start of 2024.
This follows China’s recent introduction of export restrictions on some antimony products. China is the world’s largest producer of the critical mineral.
The Antimony Reward Project forms part of the larger 330km2 Herberton Project that sits about 150km west of Cairns.
Mining activity commenced in the Herberton Region in 1880 following the discovery of tin. There are over 2,400 known historical mines and mineral occurrences – including tin, copper, zinc, lead, silver, antimony and tungsten – in the area.
Antimony Reward is located within the same structure, the Featherbed Volcanic Complex, that hosts Iltani’s Orient Silver-Indium deposit.
Write to Angela East at Mining.com.au
Images: Iltani Resources
