Amid a deep drillhole result returning 420 grams per tonne (g/t) silver-equivalent, Iltani Resources (ASX:ILT) plans to conduct more drilling across its Orient Silver-Indium Project in northern Queensland.
A deep diamond drillhole and fixed-loop electromagnetic surveys (FLEM) were recently completed at Orient, with results returning 6m @ 189g/t silver-equivalent from 207.8m, including 2m @ 420g/t silver-equivalent from 210.8m.
Iltani Resources, which has a market capitalisation of $7.52 million, plans to begin marking out drill pads in anticipation of site clearance activities.
An infill drilling program at Orient West is designed to target the core of “higher grade” mineralisation.
Managing Director Donald Garner says the recent deep diamond drillhole, ORD001, was designed as a ‘wildcat’ hole to test a deeper magnetic anomaly at Orient West combined with the surveys.
“This intersection is (a) 270m down-dip of an intersection in ORR029, (b) open at depth, and (c) is approximately 250m east of the high-grade core zone at Orient West, demonstrating the potential to deliver a high-grade underground resource and increase the size of the high-grade core,” Garner says.
“The DHEM/FLEM survey demonstrated the vein system produces a very strong response to the EM. Two main conductors were defined, representing the lower and upper parts of the sulphide-rich vein system.
“These conductors represent high-priority drill targets, and we plan to use EM to help us better target the sulphide rich vein systems at Orient.”
Meanwhile, privately held Wulguru Technical Services will begin preliminary flora and fauna studies at Orient sometime this month. This work will enable the company to better understand the baseline study requirements needed for a mining lease application.
Wulguru will also conduct a drone light detection and ranging survey to provide an accurate digital terrain model required for future mineral resource assessment work.
Further, the company’s exploration team will complete a sampling exercise at the Deadman Creek, targeting the southern stockwork area.
Iltani notes that the deep diamond drillhole was funded under the Queensland Government’s Collaborative Exploration Initiative, in which the company received $299,000 of funding.
The funding contributed to drilling to test a “large-scale” geophysical anomaly which lies beneath the Orient West silver-lead-zinc-indium mineralised system, as well as conducting a DHEM survey on completion of the deep diamond drillhole.
Iltani Resources is a base and critical metals explorer that has built a portfolio of advanced exploration projects in Queensland and Tasmania.
Iltani is presenting at the Pit to Pitch virtual event hosted by Mining.com.au this Friday 16 August from 10am-12pm AEST. To register, click here.
Write to Aaliyah Rogan at Mining.com.au
Images: Iltani Resources