Iltani Resources (ASX:ILT) says the latest drilling results from its Orient Silver-Indium Project in North Queensland “have again surpassed our expectations”, and will be used to underpin an exploration target for the Orient East deposit in early 2025.
The latest four reverse circulation holes completed at Orient East were part of a larger 25-hole program, targeting the 300m-by-400m core area of the deposit where Iltani has already identified a number of intersecting vein systems.
Drillhole ORR042 has delivered the highest grades to date within the Orient Project, with a peak result of 1m @ 1,707.2g/t silver-equivalent from 77m.
Managing Director Donald Garner says this is the best intercept from the Orient Project by grade and thickness to date.
“Results continue to underline the potential for high-grades and growing scale at the project, which could be Australia’s best silver-indium deposit,” Garner says.
“ORR042 is the down dip extension of the high-grade mineralisation intersected in ORR041, which returned results including 1m @ 1,063.9g/t silver-equivalent and the high-grade zone remains open at depth.
“Multiple high-grade zones intersected at shallow depths, such as the results in ORR041 and ORR042 within 60m of surface, reinforces the investment case for potential open pit mining at Orient East, and with the mineralisation open at depth demonstrates the UG potential as well.”
Garner adds the remaining assay results are expected to be received over the next four to eight weeks.
Once all of the assays have been received, Iltani plans to use the drilling results to begin work on an exploration target for Orient East. This is expected to be conducted in the first quarter of 2025.
Next year, Iltani plans to test a cluster of mapped vein systems and old workings at the Orient North deposit, which is 250m north of the current drilling at Orient East.
As such, the company says Orient North represents a high-priority target and has the potential to become an additional mining centre at the Orient Project.
Meanwhile, drilling at Orient West marks the beginning of a resource infill drilling program, which will be completed after the wet season abates early next year.
The Orient Silver-Indium Project lies within the greater Herberton Project in North Queensland.
Iltani Resources is a mineral explorer focused on advancing its portfolio of projects in Queensland and Tasmania.
Write to Aaliyah Rogan at Mining.com.au
Images: Iltani Resources
