Iltani Resources (ASX:ILT) has begun planning for a stage two drilling campaign to follow up on the recent drilling completed at its Orient Project in North Queensland.
The upcoming drilling is planned to test the new ‘stockwork’ targets and extend the mineralisation intersected during the stage one program.
Subject to drill rig availability, approvals, and clearance, Iltani anticipates kicking off stage two drilling as soon as all preparations are complete.
Under its stage one program, the $7.93 million market capitalisation company drilled 14 reverse circulation (RC) 14 holes for 2,034m.
Assay results from several holes confirmed the presence of extensive silver-lead-zinc-indium-antimony-tin (Ag-Pb-Zn-In-Sb-Sn) mineralisation, with ‘high-grade’ veins surrounded by ‘large’ zones of lower-grade mineralisation.
The company reports ‘notable’ results include hole ORR001 with 38m @ 69g/t Ag, 1.3% Pb, 1.4% Zn, 7g/t In, 319g/t Sb, and 0.1% Sn from 19m; and hole ORR003 with 41m @ 36g/t Ag, 0.8% Pb, 0.8% Zn, 5g/t In, 257g/t Sb, and 0.04% Sn from 39m.
Iltani Resources Managing Director Donald Garner says the recent drill results highlighted thick zones of stockwork-style mineralisation in multiple holes, and mapping carried out by consultant geologist Nick Tate has indicated the potential for additional zones of sheeted veins and stockwork mineralisation.
“Drilling and mapping results have confirmed our view that we are dealing with a very large mineralised system at Orient, with the epithermal component of the system exposed at surface and the potential for a mineralised porphyry at depth.
Stage two drilling aims to better understand the extent of the mineralisation intersected in stage one plus delineate additional bulk tonnage mineralisation at Vein 1 and Deadman Creek as we move forward in our understanding of the Orient Project.”
“Drilling and mapping results have confirmed our view that we are dealing with a very large mineralised system at Orient”
Assay results are pending from the remaining 7 holes from the stage one drilling.
The Orient Project is located in North Queensland within the company’s Herberton Project.
Iltani Resources is an Australia-based resources company focused on the exploration and development of base and critical metals.
On 30 June 2023, the company began trading on the ASX after completing an oversubscribed $5 million initial public offer.
Write to Aaliyah Rogan at Mining.com.au
Images: Iltani Resources
