Iltani Resources (ASX:ILT) is now preparing to estimate an exploration target after receiving further “high-grade” silver and indium results from drilling at the Orient West prospect.
The Australian critical minerals explorer says the recently-completed reverse circulation drilling program has confirmed the strike and dip continuity of the high-grade silver-indium vein systems.
The remaining four holes also delivered further intersections of high-grade silver-indium mineralisation.
ORR032 returned intersections of 29m @ 64 grams per tonne (g/t) silver equivalent from 73m, including 5m @ 103g/t from 79m and 5m @ 111g/t from 94m; as well as 66m @ 40g/t from 132m, including 9m @ 97g/t from 178m and 2m @ 236g/t from 178m.
Hole ORR033 delivered intersections of 33m @ 65g/t silver equivalent from 13m, including 11m @ 132g/t from 13m and 3m @ 298g/t from 18m; plus 25m @ 115g/t from 99m, including 7m @ 275g/t from 100m and 2m @ 693g/t from 100m.
This hole also returned an “over limit” indium hit of greater than 500g/t in a 1m intercept that also included 47.7 grams per tonne (g/t) silver, 0.24% lead and 8.27% zinc from 101m.
This sample has been dispatched to ALS Vancouver for further analysis.
Trading Economics says indium has gained 44.64% since the start of 2024 and is currently fetching around ￥2,900 ($590) per kilogram. Silver, meanwhile, hit its highest point in 12 years in May this year and is up over 28% since January at US$31.05.
Indium, which is one of the least abundant minerals on the planet, is a silvery-white metal typically used to make indium tin oxide, a key component of high-tech devices such as touchscreens, flat screen displays, solar panels and microchips.
Meanwhile, hole ORR034 hit 35m @ 51g/t silver equivalent from 19m, including 13m @ 91g/t from 37m and 5m @ 170g/t from 44m; and 24m @ 84g/t from 122m, including 11m @ 153g/t from 125m and 5m @ 207g/t from 125m.
ORR035 intersected 2m @ 230g/t from 45m, including 1m @ 415g/t from 45m; 8m @ 87g/t from 86m, including 4m @ 141g/t from 89m and 1m @ 465g/t from 89m.
These latest results come close on the heels of the highest grade of mineralisation intersected so far at the project of 1,552g/t silver equivalent. This was estimated from an intercept of 1m @ 266g/t silver, 500g/t indium, 5% lead and 17.4% zinc from 28m.
The Orient Project forms part of the Herberton Project in northern Queensland. Mining started in the Herberton Region in 1880 with the discovery of tin. There are over 2,400 known historical mines and mineral occurrences in the area (tin, copper, zinc, lead, silver, antimony and tungsten).
The Elizabeth Creek Granite, the Hodgkinson Formation, and the late Palaeozoic Featherbed Volcanics are extensively mineralised.
Iltani, which has a market capitalisation of about $9 million, says reverse circulation drilling has now extended the high-grade core of Orient West to a strike of 900m which remains open down dip.
The core contains mineralisation that would be amenable to open pit mining, and with the grade and thickness to also support underground mining, according to Iltani.
Mineralisation within the broader Orient West prospect has been extended 500m to the northeast and 350m to the southwest.
Orient West now has a drill tested strike extent of 1,550m, with the system still open to the northeast, southwest and down dip.
Managing Director Donald Garner says the drilling program has delivered beyond Iltani’s expectations by successfully extending Orient West, defining a high-grade core, and delivering multiple intercepts of high-grade silver-lead-zinc-indium mineralisation – including 9m @ 334g/t silver equivalent.
“We have now passed the drilling data onto Mining One to enable an estimation of the Orient West exploration target, which we will announce when completed,” he says.
“We look forward to the next phases of drilling as we advance Orient West towards an initial mineral resource and deliver an exploration target for Orient East.”
The next campaign is expected to include infill drilling at Orient West, drilling to test the northeast extension of the Orient West vein system, drilling at Orient East to advance towards an exploration target and drill testing of priority geophysical targets.
Iltani has also completed the logging of a deep diamond drill hole at Orient West and several sulphide intervals have been dispatched for assay.
Write to Angela East at Mining.com.au
Images: Iltani Resources