Iltani Resources Makes Significant Progress with Orient Silver-Indium Drilling Program
Iltani Resources (ASX: ILT) has announced substantial progress in its drilling campaign at Orient, Australia's largest known silver-indium deposit in northern Queensland. The company has successfully completed the first five holes of its critical infill drilling program aimed at converting its exploration targets to JORC resources.
Drilling Progress Accelerates Resource Definition Timeline
The track-mounted reverse circulation (RC) drill rig has completed holes ORR069 to ORR073, totaling 1,052 meters at Orient West with impressive efficiency – averaging approximately 150 meters per day. This pace positions the company well to complete its ambitious 28-hole program at Orient West.
Iltani Managing Director Donald Garner commented, "Drilling is underway at Orient West, and with five holes completed, the first batch of samples dispatched to Intertek in Townsville for assay."
Key progress highlights include:
- First batch of samples from completed holes already dispatched for assaying
- Results expected within 4-6 weeks
- Second RC rig scheduled to arrive in early April to commence JORC infill drilling at Orient East
- Comprehensive data will enable Mining One to model and estimate initial JORC Resources in Q3 2024
While recent localised flooding in Northern Queensland has delayed the arrival of the second drill rig by approximately two weeks, the company reports this is not expected to materially impact the overall Iltani Resources drilling progress.
The Orient Project: Potentially Australia's Premier Silver-Indium Asset
The current drilling programs target two significant exploration zones:
Orient West
- Current exploration target: 20 to 24Mt @ 110-120 g/t Ag Eq. (80 g/t Ag Eq. cut-off)
- Planned drilling: 28 RC holes (est. 7,000m) and 2 diamond holes (est. 450m)
Orient East
- Current exploration target: 12 to 18Mt @ 110-130 g/t Ag Eq. (80 g/t Ag Eq. cut-off)
- Planned drilling: 26 RC holes (est. 5,200m) and 2 diamond holes
This combined exploration target (using an 80 g/t Ag Eq. cut-off) represents:
- 32-42 million tonnes of potential resource
- Average grade of 110-124 g/t Ag Eq.
- Containing notable silver, indium, lead and zinc mineralisation
Understanding Exploration Targets: What Investors Should Know
An Exploration Target differs from a JORC Resource in that it represents a conceptual estimate based on available geological data. The current drilling aims to convert these exploration targets into JORC-compliant resources, providing greater certainty about the deposit's size and grade.
The silver equivalent calculation (Ag Eq.) used by Iltani incorporates multiple metals that have reasonable potential to be economically recovered:
- Silver (87% recovery)
- Lead (90% recovery)
- Zinc (85% recovery)
- Indium (85% recovery)
Notably, the company uses a conservative approach by excluding potential by-product credits from antimony and tin, which could potentially enhance the project economics in the future.
Expanding Beyond Current Boundaries
While current exploration focuses on the Orient West and East areas, Iltani has identified several high-priority targets for future exploration:
- Orient North: Features historic workings and geophysical anomalies
- Orient South: Contains old workings and promising geophysical signatures
- Orient Undercover: The area between Orient West and East, where previous drilling (hole ORR025) has already intersected multiple silver-lead-zinc-indium vein systems
The total Orient System is estimated to cover an impressive area exceeding 6 square kilometers, suggesting significant growth potential beyond the current exploration targets.
Why Investors Should Follow Iltani Resources
Iltani Resources presents a compelling investment case for several key reasons:
-
Advanced exploration stage: The company is rapidly progressing toward JORC resource definition at Orient, potentially establishing it as Australia's premier silver-indium asset.
-
Critical mineral exposure: Indium is classified as a critical mineral due to its importance in technologies like touchscreens, solar panels, and semiconductors, with limited global production sources.
-
Resource growth potential: Beyond the current exploration targets, multiple high-priority zones remain to be tested across the expansive 6km² Orient System.
-
Near-term catalysts: With assay results expected in 4-6 weeks and JORC resource estimation targeted for Q3 2024, multiple potential share price catalysts lie ahead.
-
Strategic location: The Orient project benefits from excellent access infrastructure near the historic mining town of Herberton in Queensland.
With dual drilling programs, upcoming assay results, and a JORC resource estimation targeted for Q3 2024, investors should keep a close watch on Iltani Resources drilling progress as it works to establish Orient as Australia's premier silver-indium deposit.
Looking to Invest in Australia's Premier Silver-Indium Opportunity?
Discover the significant potential of Iltani Resources' Orient project as it advances toward becoming Australia's premier silver-indium asset. With drilling progressing efficiently and a JORC resource estimation targeted for Q3 2024, now is the perfect time to explore this compelling investment opportunity. For comprehensive information about Iltani's projects, drilling progress, and investment potential, visit Iltani Resources' website today.
