Iltani Resources (ASX:ILT) confirm large-scale discovery at OrientOctober 24, 2023
Early results confirmed the potential for a near-surface bulk tonnage operation and the remaining holes from Iltani Resources‘ Stage 1 RC campaign have now demonstrated that the Orient Project could play host to one of Australia’s largest silver deposits with material exposure to critical indium and antimony.
Drilling at the Orient West prospect delivered wide intersections of silver-lead-zinc-indium-antimony-tin mineralisation two kilometres away from similar returns at the eastern prospect, showcasing a potentially massive system in northern Queensland.
Iltani Managing Director Donald Garner said the company’s stage 1 program had continued to deliver outstanding intersections.
“The assay results we released today, particularly the multiple intersections of silver-lead-zinc-indium-antimony-tin mineralisation at Orient West, demonstrates Orient’s potential to deliver one of Australia’s largest silver deposits combined with material amounts of critical raw materials,” Mr Garner said.
“To date, the mineralisation intersected is a combination of high-grade veins surrounded by larger zones of low to medium-grade mineralisation, such as ORR010 with an intercept of 2m @ 173 g/t Ag, 2.6% Pb, 5.9% Zn, 296g/t In, 0.4% Sb and 0.17% Sn (from 93m downhole) contained in a much broader intercept of 41m @ 35 g/t Ag, 0.7% Pb, 1.0% Zn, 35 g/t In, 0.03% Sb and 0.04% Sn (from 60m downhole).”
Mr Garner added that the mineralisation intersected to date was at shallow depths, outcropping, and possibly amenable to open pit mining.
“We plan to commence drilling our Stage 2 program at Orient as soon as possible, targeting extensions of the mineralisation intersected in Stage 1, plus targeting areas of stockwork mineralisation discovered in our recent mapping program,” he said.
Mineralisation has already been confirmed as epithermal and the project holds the noteworthy potential for multiple untested stockwork zones and porphyry at depth.
The results come from Iltani’s first drilling campaign as an ASX-lister and it is wasting little time getting the second on track, with preparations underway to begin the Stage 2 program as soon as possible while it follows up with mapping and sampling on the stockwork targets to generate more quarry for the drill.
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