Iltani Resources Drills High-Grade Silver Indium Hits at Orient West

Iltani Resources Drills Into Another String of High‑Grade Silver‑Indium Hits at Orient West

Iltani Resources high-grade silver indium drill results at Orient West continue to capture attention as the company reports fresh assay results from reverse circulation (RC) drillholes ORR148 to ORR158 at the Orient Silver‑Indium Project in the Herberton Mineral Field, North Queensland.

All holes were completed at Orient West as part of an infill campaign within a planned 110‑hole program. According to the ASX release dated 6 July 2026, the results continue to intersect high‑grade massive sulphide veins plus broad zones of silver‑lead‑zinc‑indium mineralisation at depths that could suit open‑pit mining, subject to future studies.

These outcomes sit within an existing JORC‑compliant Mineral Resource Estimate and an Exploration Target, positioning Orient as a material silver‑indium system in Australia.

"Orient West drilling continues to deliver, with the results for ORR148 to ORR158 intersecting multiple zones of silver‑lead‑zinc‑indium mineralisation," said Donald Garner, Managing Director of Iltani Resources Ltd.

"These results continue to reinforce the Orient investment case – Australia's largest known silver‑indium deposit with the potential to be one of the largest suppliers of indium rich concentrate globally."

Peak Assays That Command Attention

The latest RC holes highlight several one‑metre intervals with very high silver equivalent grades, underpinned by strong indium and zinc values. Three headline intercepts are:

These one‑metre peaks sit within broader mineralised intervals, which are important for any potential open‑pit scenario because they contribute bulk tonnage rather than isolated narrow veins.

For investors tracking Iltani Resources Ltd, such repeat intersections at different depths and across several sections indicate that high‑grade mineralisation is not restricted to single pockets but occurs within a broader structural framework at Orient West.

Broad Zones That Support Open‑Pit Potential

Alongside the peak samples, the announcement reports multiple thick zones of silver‑lead‑zinc‑indium mineralisation at shallow to moderate depths. These intervals, expressed in silver equivalent (Ag Eq.) terms, are central to the potential economics of a large‑scale surface mine if future studies support development.

Selected broad intercepts include:

• ORR148

  • 17 m @ 37 g/t Ag, 88 g/t In, 0.5% Pb, 1.5% Zn (172 g/t Ag Eq.) from 97 m
  • including 8 m @ 69 g/t Ag, 180 g/t In, 0.8% Pb, 3.0% Zn (329 g/t Ag Eq.) from 98 m

• ORR151

  • 6 m @ 93 g/t Ag, 54 g/t In, 2.0% Pb, 2.7% Zn (324 g/t Ag Eq.) from 47 m
  • including 3 m @ 168 g/t Ag, 104 g/t In, 3.6% Pb, 4.9% Zn (588 g/t Ag Eq.) from 48 m

• ORR153

  • 15 m @ 28 g/t Ag, 32 g/t In, 0.5% Pb, 1.0% Zn (111 g/t Ag Eq.) from 69 m
  • including 6 m @ 45 g/t Ag, 68 g/t In, 0.8% Pb, 1.8% Zn (197 g/t Ag Eq.) from 69 m

• ORR155

  • 9 m @ 23 g/t Ag, 53 g/t In, 0.3% Pb, 1.2% Zn (119 g/t Ag Eq.) from 107 m
  • including 2 m @ 62 g/t Ag, 171 g/t In, 0.5% Pb, 3.5% Zn (197 g/t Ag Eq.) from 107 m

• ORR157

  • 30 m @ 21 g/t Ag, 32 g/t In, 0.4% Pb, 0.9% Zn (97 g/t Ag Eq.) from 170 m

• ORR158

  • 15 m @ 26 g/t Ag, 20 g/t In, 0.6% Pb, 0.7% Zn (93 g/t Ag Eq.) from 197 m
  • 20 m @ 16 g/t Ag, 57 g/t In, 0.3% Pb, 1.3% Zn (118 g/t Ag Eq.) from 226 m

Taken together, the combination of:

• high‑grade massive sulphide vein cores, and
• surrounding disseminated or stockwork mineralisation

is described by Iltani Resources Ltd as a defining feature of the Orient deposit style. From an investor perspective, this geometry is important because wide, continuous zones at these depths are compatible with the open‑cut mining methods usually evaluated in scoping and feasibility studies.

Educational Focus: What Silver Equivalent (Ag Eq.) Means for Multi‑Metal Deposits

The Orient Project contains several valuable metals in each interval, not just silver. To make results easier to compare, Iltani Resources Ltd reports grades using Silver Equivalent (Ag Eq.). Understanding this metric helps investors interpret multi‑metal drilling results more consistently.

What Is Silver Equivalent?

Silver equivalent converts the combined economic value of different metals into a single figure, expressed as an equivalent grade of silver in grams per tonne (g/t).

For Orient, the company uses this formula:

Ag Eq. = Ag + (Pb × 35.5) + (Zn × 50.2) + (In × 0.47)

Where:

• Ag is silver in g/t
• Pb is lead in %
• Zn is zinc in %
• In is indium in g/t

This calculation is based on assumed metal prices and recoveries:

According to Iltani Resources Ltd, silver and lead are expected to report mainly to a lead‑silver concentrate, while zinc, silver and indium are expected to report to a zinc‑indium‑silver concentrate, based on historical test work referenced in earlier announcements.

Why Is Ag Eq. Useful for Investors?

For single‑metal deposits, such as many gold projects, each intercept can be compared on a simple grade‑times‑width basis. Multi‑metal systems are, however, more complex.

Ag Eq. provides:

• A common yardstick across different holes and depths by including the value of indium, lead and zinc.
• A clearer view of economic contribution from high‑value minor metals like indium, which can materially increase interval value even at moderate grades.

For example, the 1 m interval in ORR148 grading 192.1 g/t Ag, 924.5 g/t In, 1.8% Pb and 13.9% Zn is reported as 1,390.1 g/t Ag Eq. Without a silver equivalent calculation, comparing that interval with another intercept rich in silver but poorer in indium and zinc would be considerably more difficult.

Ag Eq. values are estimates based on specific assumptions, so investors often consider:

• how sensitive results might be to changes in metal prices, and
• whether further metallurgical work confirms the assumed recoveries.

Glossary of Key Technical Terms

To make the Orient Project update more accessible, some frequently used terms are summarised below.

These concepts are central to interpreting the Orient assay data and the potential future development pathway that Iltani Resources Ltd is describing.

The Orient Resource: Established Scale With Silver‑Indium Focus

The Orient Silver‑Indium Project comprises two main zones, Orient East and Orient West, within Iltani's Herberton Project in North Queensland.

According to the ASX release, the current Orient Project Mineral Resource Estimate (60 g/t Ag Eq. cut‑off) is:

Broken down by zone:

For Orient West, which is the focus of the latest drilling:

• total tonnage is reported at 21.6 Mt @ 100.5 g/t Ag Eq., and
• contained indium is estimated at 456 t within the current resource envelope.

In addition to the Mineral Resource, Iltani Resources Ltd has also published an Exploration Target for Orient of 15.4–18.8 Mt @ 95–117 g/t Ag Eq. at the same 60 g/t Ag Eq. cut‑off. The company notes that this potential quantity and grade is conceptual in nature, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

For investors, the presence of both a defined JORC resource and a separate Exploration Target suggests that the deposit has room for potential growth if drilling is successful in converting more of the conceptual material into classified resources.

New Veins and Additional Upside: First Systematic Tests of Veins 5 and 6

The orientated vein system at Orient West consists of multiple parallel structures numbered Veins 1 to 6. Most of the current Mineral Resource at Orient West is hosted within basal Veins 1 to 4.

The latest program includes the first systematic RC testing of Veins 5 and 6 at shallower levels, using holes ORR156, ORR157 and ORR158. Previously, these upper veins were relatively untested because drilling through the full vein package was too deep for earlier RC work.

Reported intercepts linked to Veins 5 and 6 include:

• ORR156

  • 7 m @ 44 g/t Ag, 13 g/t In, 1.1% Pb, 1.0% Zn (137 g/t Ag Eq.) from 96 m

• ORR157

  • 2 m @ 36 g/t Ag, 20 g/t In, 0.7% Pb, 0.7% Zn (104 g/t Ag Eq.) from 104 m

• ORR158

  • 4 m @ 34 g/t Ag, 3 g/t In, 0.8% Pb, 0.8% Zn (101 g/t Ag Eq.) from 40 m
  • 2 m @ 60 g/t Ag, 25 g/t In, 1.5% Pb, 1.8% Zn (215 g/t Ag Eq.) from 50 m

The announcement furthermore highlights shallow mineralisation such as:

• ORR157: 3 m @ 33 g/t Ag, 5 g/t In, 0.7% Pb, 0.5% Zn (82 g/t Ag Eq.) from 31 m
• ORR158: 4 m @ 34 g/t Ag, 3 g/t In, 0.8% Pb, 0.8% Zn (101 g/t Ag Eq.) from 40 m

These may represent previously unrecognised hanging‑wall veins located further east of earlier collar positions. Consequently, Iltani Resources Ltd indicates these features present new targets for follow‑up drilling, potentially expanding the mineralised footprint beyond the existing model.

Orient West Drilling Program:

Ready to Dig Deeper Into Iltani Resources and the Orient Silver‑Indium Project?

With high-grade assay results continuing to emerge from Orient West, a substantial JORC-compliant Mineral Resource already in place, and the first systematic testing of Veins 5 and 6 opening up fresh upside, Iltani Resources is building a compelling investment case around what it describes as Australia's largest known silver-indium deposit. To learn more about the company, the Orient Project, and how this 110-hole infill program is shaping the path forward, visit the official Iltani Resources website at iltaniresources.com.au.