Iltani Resources (ASX:ILT) plans to complete the initial part of stage two program by early December at the Orient silver-lead-zinc-indium Project in Queensland.
The company will then demobilise the drill rig in anticipation of the wet season.
has its sights set on exploration for the remainder of 2023 and to kickstart the new year for its
The $7.1 million market capitalisation company announces today (29 November) that stage two drilling will consist of 23 reverse circulation drill holes, with 9 planned at Orient East (for 1,300m drilled), 11 RC drillholes planned at Orient West (for 1,840m drilled) and 3 planned at Deadman Creek (for 360m drilled).
The program follows a solid stage one drilling program that returned multiple intersections of 30m to 40m ‘thick’ mineralisation at the Orient East and West prospects.
Assays from drilling are expected to follow about 4 to 6 weeks after sample submission.
Iltani’s Orient Project represents part of the greater Herberton Project in Queensland. Other assets held by Iltani in Queensland include the Northern Base Metal, Rookwood, and Southern Gold projects.
As of 30 September 2023, Iltani Resources had $3.629 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Iltani Resources