Drilling at Iltani Resources’ (ASX:ILT) Orient Project in North Queensland has intersected “multiple high-grade silver-lead-zinc-indium vein systems” .
The junior explorer says intercepts include the highest grade of mineralisation so far at the project of up to 1,552 grams per tonne (g/t) silver equivalent from hole ORR030.
This was estimated from an intercept of 1m @ 266g/t silver, 500g/t indium, 5% lead and 17.4% zinc from 28m.
The peak intercept came from within a broader 9m @ 334g/t silver equivalent – made up of 67g/t silver, 110g/t indium, 1.3% lead and 3.4% zinc – from 23m, which also included 5m @ 567g/t silver equivalent – comprising 111g/t silver, 195g/t indium, 2.1% lead & 5.8% zinc – from 26m.
Indium, a silvery-white metal, is most commonly recovered from the zinc-sulphide ore mineral sphalerite. It 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.
Three of the 11 reverse circulation (RC) holes were drilled to test the grade and width continuity of the Orient West mineralised system, including the extent of the high-grade core, both along strike and at depth.
Hole ORR030 was drilled 400m along strike from earlier intersections of 5m @ 440g/t silver equivalent from 117m and 4m at 448g/t silver equivalent from 186m.
Managing Director Donald Garner says this demonstrates the potential of the Orient West vein system to host a high-grade silver-lead-zinc-indium resource within a far bigger mineralised envelope.
“The results reinforce the potential to build a high-grade core at Orient West, and we believe the high-grade core could have a strike extent of more than 700m,” he says.
“It is particularly pleasing to see intersections at grades that we could potentially chase underground from an open pit.”
Meanwhile, hole ORR029 intersected 46m @ 37g/t silver equivalent, including 3m @ 90g/t and 1m @ 177g/t, from 6m; as well as 10m @ 76g/t from 31m, including 5m @ 121g/t from 36m.
Hole ORR031 returned a top hit of 20m at 77g/t silver equivalent from 190m, including 5m @ 171g/t from 205m.
Iltani has so far defined mineralisation at Orient West over a strike of at least 1.25km and down to 150m depth.
The mineralisation remains open down dip and up dip, outcropping along the Orient West ridgeline, and along strike 600m northwest and 400m southeast.
“Looking at what we have achieved to date at Orient West, plus adding in what we have at Orient East, confirms our belief that Orient is Australia’s most exciting silver exploration project with potential to host a large silver-indium deposit,” Garner says.
Results are pending for a further four RC holes.
Once Iltani has received all assays it will start work on estimating an initial exploration target for Orient West.
The company, which has a market capitalisation of $11.5 million, has also just completed drilling a deep diamond hole targeting the down dip extension of the Orient West vein package.
The hole, which reached 800m depth, also targeted a deeper magnetic anomaly that Iltani believes could be representative of the mineralisation source.
A team will shortly mobilise to site to complete a downhole electromagnetics survey.
The Orient Project forms part of the Herberton Project. Mining started in the Herberton Region in 1880 with the discovery of tin. There are over 2,400 known historical mines and mineral occurrences in the area (tin, copper, zinc, lead, silver, antimony and tungsten).
The Elizabeth Creek Granite, the Hodgkinson Formation, and the late Palaeozoic Featherbed Volcanics are extensively mineralised.
Write to Angela East at Mining.com.au
Images: Iltani Resources
