Iltani to define target as confirmed ‘high grade’ silver-indium at Orient West
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Iltani to define target as confirmed ‘high grade’ silver-indium at Orient West

Iltani Resources (ASX:ILT) is now preparing to estimate an exploration target after receiving additional information. “ranking officer” Silver and indium results from drilling the Orient West prospect.

Australian critical minerals explorer says recently completed reverse circulation drilling program has confirmed continuity of strike and dip of high-grade silver-indium vein systems.

The remaining four holes also returned further intersections of high-grade silver and indium mineralization.

ORR032 returned intersections of 29 m at 64 grams per tonne (g/t) silver equivalent from 73 m, including 5 m at 103 g/t from 79 m and 5 m at 111 g/t from 94 m; as well as 66 m at 40 g/t from 132 m, including 9 m at 97 g/t from 178 m and 2 m at 236 g/t from 178 m.

Hole ORR033 returned intersections of 33 m at 65 g/t silver equivalent from 13 m, including 11 m at 132 g/t from 13 m and 3 m at 298 g/t from 18 m; plus 25 m at 115 g/t from 99 m, including 7 m at 275 g/t from 100 m and 2 m at 693 g/t from 100 m.

This hole also returned a “beyond the limit” an indium content greater than 500 g/t was detected in a 1 m intercept, which also included 47.7 grams per tonne (g/t) silver, 0.24% lead and 8.27% zinc at 101 m.

This sample was sent to ALS Vancouver for further analysis.

According to Trading Economics, indium has gained 44.64% since the beginning of 2024 and is currently trading around ¥2,900 ($590) per kilogram. Silver, meanwhile, hit a 12-year high in May this year and is up more than 28% since January to $31.05.

Indium, one of the least abundant minerals on the planet, is a silvery-white metal commonly used to make indium tin oxide, a key component in high-tech devices such as touch screens, flat panel displays, solar panels and microchips.

Meanwhile, hole ORR034 intersected 35 m at 51 g/t silver equivalent from 19 m, including 13 m at 91 g/t from 37 m and 5 m at 170 g/t from 44 m; and 24 m at 84 g/t from 122 m, including 11 m at 153 g/t from 125 m and 5 m at 207 g/t from 125 m.

ORR035 intersected 2 m at 230 g/t from 45 m, including 1 m at 415 g/t from 45 m; 8 m at 87 g/t from 86 m, including 4 m at 141 g/t from 89 m and 1 m at 465 g/t from 89 m.

These latest results come on the heels of the highest grade of mineralization intersected to date at the project, 1,552 g/t silver equivalent. This value was estimated from a 1 m intersection of 266 g/t silver, 500 g/t indium, 5% lead and 17.4% zinc at 28 m.

The Orient Project is part of the Herberton Project in North Queensland. Mining began in the Herberton area in 1880 with the discovery of tin. There are over 2,400 known historic mines and mineral deposits in the area (tin, copper, zinc, lead, silver, antimony and tungsten).

The late Paleozoic Elizabeth Creek Granite, Hodgkinson Formation, and Featherbed Volcanoes are extensively mineralized.

Iltani, whose market capitalisation is around $9 million, says reverse circulation drilling has now extended the high-grade Orient West core to a depth of 900m which remains open downdip.

The core contains mineralization that would be suitable for open-pit mining, and the grade and thickness of which would also support underground mining, Iltani said.

Mineralization within the broader Orient West prospect has been extended 500 m to the northeast and 350 m to the southwest.

Orient West now has a tested drilling extent of 1,550 m, with the system still open to the northeast, southwest and downdip.

Managing Director Donald Garner says the drilling program exceeded Iltani’s expectations by successfully extending Orient West, defining a high-grade core and returning multiple intercepts of high-grade silver-lead-zinc-indium mineralization – including 9m at 334g/t silver equivalent.

“We have now forwarded the drilling data to Mining One to enable an estimate of the Orient West exploration target, which we will announce once complete,” 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 tests of priority geophysical targets.

Iltani also completed logging of a deep diamond drill hole at Orient West and several sulphide intervals were sent for analysis.

Write to Angela East at Mining.com.au

Images: Iltani Resources