Iltani's Diamond Drilling Delivers High-Grade Silver at Orient West
Iltani Resources (ASX: ILT) has reported exceptional high-grade silver-indium results from its recent diamond drilling program at the Orient West deposit in North Queensland, further validating the company's belief that Orient represents Australia's largest and highest-grade known silver-indium deposit.
Diamond Drilling Confirms Substantial Silver-Indium Mineralisation
Recent diamond drilling at Orient West has delivered multiple impressive intercepts, with standout results including:
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ORD003: 5m @ 428.6 g/t Ag Eq. from 56m including 0.83m @ 1838.4 g/t Ag Eq. (containing 269.2 g/t Ag, 345.3 g/t In, 9.69% Pb & 21.17% Zn)
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ORD002: 11.94m @ 160.8 g/t Ag Eq. from 137m including 1.34m @ 809.2 g/t Ag Eq. (containing 137.0 g/t Ag, 403.1 g/t In, 1.69% Pb & 8.42% Zn)
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ORD002: 4m @ 158.6 g/t Ag Eq. from 113m including 1.65m @ 210.2 g/t Ag Eq.
These exceptional Iltani Resources silver results continue to demonstrate the potential of Orient West to host significant high-grade mineralisation at depth, with the system remaining open for expansion.
"It is one thing seeing the mineralisation as chips in the RC drilling, but to see it in the diamond core gives us so much more insight into the mineralisation, how it was formed and the associated alteration. We can use this to better target our drilling activities going forward," noted Iltani Managing Director Donald Garner.
Advancing Toward JORC Resource Estimation
Iltani has completed its Orient West JORC Infill RC drilling program, with the data currently being analysed by independent mining consultants Mining One to estimate an initial Orient West JORC Resource, expected by the end of July 2023.
The company has also completed Orient East JORC Infill RC drilling, with results pending from numerous holes. A separate Orient East JORC Resource is expected in September 2023.
| Project Area | Drilling Status | Expected JORC Resource Timing |
|---|---|---|
| Orient West | Complete | End of July 2023 |
| Orient East | Complete (assays pending) | September 2023 |
Understanding Silver-Indium Mineralisation: The Diamond Core Advantage
The diamond drilling program has provided Iltani with critical insights beyond what was possible with RC drilling. Key benefits include:
- Enhanced geological understanding: The diamond core provides valuable structural information about how the mineralisation formed
- Precise measurement: The company can now accurately determine specific gravities of both mineralisation and host rocks
- Structural data collection: The oriented core allows for better modelling of the mineralisation's geometry
Massive Sulphide Veins and "Crackle Breccia" Zones
The diamond drilling has revealed that the mineralisation style at Orient West consists of:
- Massive sulphide core veins (up to 2 meters width) containing high-grade silver-indium-lead-zinc
- "Crackle Breccia" zones surrounding the core veins, extending several meters on either side
- Polymetallic sulphide veinlets between breccia clasts, creating broader zones of mineralisation
This geology explains why drill results often show narrow ultra-high-grade zones surrounded by wider moderate-grade intervals. The 11.94m intercept of 160.8 g/t Ag Eq. from 137m in hole ORD002, for example, comprises a 1.34m massive sulphide core (809.2 g/t Ag Eq.) surrounded by 10.6m of crackle breccia averaging 80 g/t Ag Eq.
What is Silver Equivalent (Ag Eq.)?
Silver equivalent is a standardised way to express the combined value of multiple metals in terms of silver. For Iltani's reporting:
- The formula is: Ag Eq. = Ag + (Pb × 35.5) + (Zn × 50.2) + (In × 0.47)
- Based on metal prices: Silver $20/oz, Lead $1.00/lb, Zinc $1.50/lb, Indium $300/kg
- Assumes metal recoveries of: Silver 87%, Lead 90%, Zinc 85%, Indium 85%
This approach allows investors to understand the total economic value of the polymetallic mineralisation in a single comparable figure.
Indium: A Critical Metal for Technology
Indium is a soft, malleable metal with significant technological applications that is rarely found in concentrated deposits. As a critical metal for modern technology, understanding indium's properties and applications provides context for Iltani's discovery.
Key Properties and Applications:
- Touch Screens: Indium tin oxide (ITO) is transparent and electrically conductive, making it essential for touchscreen displays in smartphones, tablets, and other devices
- Semiconductors: Used in semiconductor materials and as a component in transistors and photovoltaic cells
- Soldering: Low melting point makes it valuable in specialised solders for electronics
- Solar Panels: Critical component in copper-indium-gallium-selenide (CIGS) thin-film solar cells
- LED Displays: Used in advanced display technologies and light-emitting diodes
Supply Considerations:
Indium is typically recovered as a by-product of zinc processing, with global production estimated at approximately 900 tonnes annually. China currently dominates global indium production.
The combination of high indium grades with significant Iltani Resources silver results at Orient makes the project particularly noteworthy, as few deposits worldwide contain economic concentrations of indium.
Exploration Upside Beyond Current Drilling
Iltani's current drilling has focused on defining a JORC-compliant Mineral Resource within the 900m by 350m "High Grade Core Area" at Orient West. However, the deposit offers substantial exploration upside:
- At least an additional 1,500m strike extent of mineralisation requires investigation along the Orient West trend
- Further targets exist at Orient North, Orient South, Deadman Creek, and the linking zone between Orient West and Orient East
- Mineralisation is likely present below extensive areas of surface cover, as demonstrated by hole ORR025 which intersected high-grade mineralisation with no surface expression
Previous work has established an Exploration Target* at Orient West of 74-100 Mt @ 55-65 g/t Ag Eq. (using a 30 g/t Ag Eq. cutoff), including high-grade core material of 20-24 Mt @ 110-120 g/t Ag Eq. (using an 80 g/t Ag Eq. cutoff).
The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
Next Steps for Investors to Watch
With the receipt of final VTEM Survey data, Iltani's geophysical consultant Mitre Geophysics has begun modelling to generate additional targets in the Orient area. The company plans to start drilling these geophysical targets by the end of July, with the objective of delivering additional tonnage and grade by testing lateral extensions.
Why Investors Should Track Iltani Resources
Iltani Resources represents a compelling investment opportunity in the critical minerals space for several key reasons:
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Australia's premier silver-indium asset: The Orient project is positioning itself as the country's largest and highest-grade known silver-indium deposit
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Critical metals exposure: Indium is a strategic metal used in semiconductors, touch screens, and solar panels, with limited global production
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Multiple near-term catalysts: With JORC Resource estimates expected for both Orient West and East in the coming months
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Substantial exploration upside: The current drilling represents only a fraction of the potential mineralised system
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Strong technical team: Management has demonstrated the ability to efficiently advance the project through systematic exploration
As global demand for critical minerals continues to grow, Iltani's Orient project represents a rare opportunity to gain exposure to both precious and technology metals in a mining-friendly jurisdiction.
Want to Invest in Australia's Premier Silver-Indium Opportunity?
Discover why Iltani Resources (ASX: ILT) is quickly emerging as one of the most exciting critical minerals plays on the ASX. With exceptional high-grade silver-indium results, imminent JORC resource estimates, and substantial exploration upside at the Orient project, now is the time to investigate this unique investment opportunity. For comprehensive information about Iltani's projects and to stay updated on their latest developments, visit their website today.
