Iltani has pulled in Australia’s highest reported indium grades at its Orient project in North Queensland
Mining One has been engaged to build a 3D model of the Orient System to assist with next round of drilling
Stage 2 drilling is expected to kick off in March/April
Special Report: Stage-2 drilling results at Iltani’s Orient project in North Queensland have returned up to 1,070g/t indium, the highest known indium drilling assay reported in Australia.
Having submitted samples from its over-range indium results to ALS in Canada for further analysis, Iltani Resources (ASX:ILT) believes it’s on to a winner with Australia’s highest grade reported indium drilling results.
Grades of up to 1,070g/t and 870g/t indium were returned in samples 122725 and 122757, respectively, as well as exceptionally high silver-lead-zinc mineralisation.
Other results included:
5m @ 43g/t silver, 0.7% lead, 5% zinc, 0.2% tin from 117m;
1m @ 141g/t silver, 1.7% lead, 18.8% zinc, 0.8% tin from 117m; and
4m @ 48g/t silver, 1% lead, 4.8% zinc, 0.1% tin from 186m.
Indium – important value at the Orient project
While ILT knew the Orient project had the potential to host a high-grade silver-indium deposit, managing director Donald Garner says these latest results exceeded expectations.
“Indium is currently trading at US$230 – 260 per kg (Indium 99.99%, Rotterdam) and represents an important part of the value at the Orient project,” he says.
“It is a critical mineral as designated by Geoscience Australia and has this classification in the United States, Japan, South Korea, India and the United Kingdom.
“Historical metallurgical test work indicates that the indium will be recovered to a zinc-indium-silver concentrate grading 47-48% zinc, 2,000g/t indium and 200g/t silver.”
3D model to optimise next drilling phase
Work completed to date has only enhanced the company’s confidence around the Orient System having the potential to host a world-class silver-lead-zinc-indium deposit.
ILT has now engaged Mining One to build a 3D model of Orient using all available data such as RC drilling (Stage and 2) results, geophysical data reinterpretation (IP, magnetic and resistivity) as well as consult geologist Nick Tate’s mapping to better understand Orient’s potential.
The company will then use this model to optimise the drill design of the remaining Stage 2 RC holes planned for March/April 2024. It will then work with Mining One to lay the foundations for a resource estimate.
ILT expects to restart Orient Stage 2 drilling in March/April when the wet season in North Queensland abates.
This article was developed in collaboration with Iltani Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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