Iltani Resources: High-Grade Silver Discoveries at Orient East
ILT (ILT) Share Update January 2025 Monday 13th
Iltani Resources Unveils Promising Drilling Results at Orient East
Iltani Resources Limited (ASX: ILT) has announced significant drilling results from its Orient East deposit in North Queensland, revealing high-grade silver equivalent intersections that suggest a promising future for the company's silver-indium project.
Instant Summary:
- ORR060 intersected 62m at 110.3 g/t Ag Eq., including 3m at 396.2 g/t Ag Eq.
- ORR056 intersected 38m at 143.6 g/t Ag Eq., including 2m at 959.9 g/t Ag Eq.
- Mineralisation remains open to the west, north, and south.
- Potential for low strip ratio, open-pittable resource.
- Exploration Target estimate expected by February 2025.
Drilling Results Overview
Iltani Resources has completed a 25-hole drilling program at the Orient East deposit, part of the larger Orient Silver-Indium Project. The results from the final five reverse circulation (RC) drill holes, ORR056 to ORR060, have returned outstanding high-grade silver equivalent intersections. Notably, ORR060 intersected 62 meters at 110.3 grams per tonne (g/t) silver equivalent (Ag Eq.) from 48 meters downhole, including 3 meters at 396.2 g/t Ag Eq. from 106 meters.
ORR056 also demonstrated significant mineralisation with 38 meters at 143.6 g/t Ag Eq. from 64 meters, featuring a high-grade core of 2 meters at 959.9 g/t Ag Eq. from 68 meters. These results indicate substantial east-west continuity of mineralisation and suggest the potential for a low strip ratio, open-pittable resource.
Continuity and Future Potential
The drilling program has confirmed that the Orient East system remains open to the west, north, and south, with high-priority areas yet to be tested. The mineralisation's shallow depth and multiple orientations highlight the potential to define a significant resource. Iltani Resources plans to deliver an Exploration Target estimate for Orient East by early February 2025, which will further delineate the resource's potential.
Strategic Implications
Managing Director Donald Garner expressed optimism about the results, noting that the high-grade intersections exceed previous expectations and underscore the project's potential. The data from this drilling will be used by independent consultancy Mining One to initiate the Exploration Target estimate process. This strategic move positions Iltani Resources to capitalize on the increasing demand for critical minerals like silver and indium.
The announcement of high-grade results at Orient East is likely to boost investor confidence in Iltani Resources, potentially driving up the company's stock price. The confirmation of extensive mineralisation, along with the promise of a low strip ratio, open-pittable resource, positions the company favorably in the critical minerals market.
Investor Reaction:
Analysts are expected to react positively to the news, given the high-grade nature of the intersections and the strategic potential of the Orient East project. The anticipation of an Exploration Target estimate in early 2025 adds to the project's allure, suggesting further upside potential for investors.
Conclusion:
Investors should keep a close eye on Iltani Resources as it progresses towards defining an Exploration Target at Orient East. The company's ability to deliver on its strategic objectives will be crucial in maintaining momentum and realizing the project's full potential.