Iltani Resources Achieves Record Silver Grades at Orient East
ILT (ILT) Share Update December 2024 Sunday 15th
Iltani Resources Reports Record High Silver Grades at Orient East
Iltani Resources Limited (ASX: ILT) has announced its highest silver equivalent grades to date from the Orient East deposit, part of its Orient Silver-Indium Project in Herberton, North Queensland.
Instant Summary:
- Highest grade recorded: 1m @ 1707.2 g/t Ag Eq.
- Significant intersections in drill hole ORR042.
- Mineralisation remains open at depth.
- Exploration Target to be developed in Q1 2025.
- Potential for open pit mining at Orient East.
Record-Breaking Drilling Results
Iltani Resources has reported exceptional drilling results from the Orient East deposit, with assays revealing the highest silver equivalent grades achieved by the company so far. The standout result came from drill hole ORR042, which intersected 1 meter at 1707.2 grams per tonne (g/t) silver equivalent (Ag Eq.), comprising 574.0 g/t silver, 147.5 g/t indium, 14.2% lead, and 11.15% zinc from 77 meters downhole.
Additional significant intersections from ORR042 include 19 meters at 378.8 g/t Ag Eq. from 64 meters, including 5 meters at 427.2 g/t Ag Eq. and 6 meters at 746.7 g/t Ag Eq. These results highlight the potential for high-grade mineralisation at shallow depths, reinforcing the prospect of open pit mining.
Expanding Exploration Efforts
The mineralisation encountered in ORR042 is the down-dip extension of previous high-grade intercepts and remains open at depth, indicating further exploration potential. Iltani plans to use these results to develop an Exploration Target for Orient East, expected in the first quarter of 2025.
In addition to Orient East, Iltani is preparing to commence a JORC Resource Infill drilling program at Orient West once the wet season concludes. This program will further delineate the resource potential of the area.
Strategic Location and Future Plans
Located approximately 20 kilometers from Herberton in Northern Queensland, the Orient Silver-Indium Project covers a vast area with multiple mineralised vein systems. Iltani's exploration activities aim to connect the mineralisation between Orient East and West, potentially expanding the project's scale and economic viability.
With 15 drill holes pending at Orient East and additional drilling planned at Orient West and South, Iltani is well-positioned to advance its exploration efforts and potentially establish a significant mining operation in the region.
The announcement of record high silver equivalent grades is likely to positively influence Iltani Resources' stock price, as it underscores the project's potential to become a leading silver-indium deposit in Australia. The high-grade results could attract increased investor interest and support future funding for further exploration and development activities.
Investor Reaction:
Analysts are expected to react positively to the news, highlighting the potential for significant resource expansion at Orient East. The high-grade results may lead to increased investor confidence in Iltani's exploration strategy and project potential.
Conclusion:
Investors should keep a close watch on Iltani Resources as it progresses with its exploration plans and prepares to release further assay results. The company's strategic focus on expanding its resource base could offer substantial growth opportunities in the coming months.