Iltani Resources Ltd (ASX:ILT) has picked up its highest grade to date – 1707 grams per tonne (g/t) silver equivalent (AgEq) – from its Orient East deposit in Queensland, with four reverse circulation (RC) drill holes all intersecting silver-lead-zinc-indium mineralisation.
The grade in question was picked up from one hole drilled into Orient East, which is part of Iltani’s Orient silver-indium project located near Herberton. This assay yielded one metre at 1707.2 g/t Ag Eq. from 77 metres (574.0 g/t Ag, 147.5 g/t In, 14.2% Pb & 11.15% Zn) downhole.
In another hole, intercepts included 22 metres at 104.0 g/t Ag Eq. from 66 metres including two metres at 157.6 g/t Ag Eq. from 68 metres, in addition to five metres at 217.1 g/t Ag Eq. including two metres at 392.9 g/t Ag Eq. from 80 metres downhole.
Iltani is expecting all assays associated with the Orient East drilling program to be returned throughout December and early January, with an exploration target to be published in the first quarter of 2025.
Managing director Donald Garner said the results would boost expectations for development of the deposit.
“Latest assay results from our drilling at Orient East have again surpassed our expectations, delivering both the best intercept of grade x thickness, and the highest-grade mineralisation we have drilled to date at Orient,” he said.
“Results continue to underline the potential for high grades and growing scale at the project, which could be Australia’s best silver indium deposit.”
Iltani shares have risen on the news, and at 10:28 AEDT, they were trading at 17.5 cents – an increase of 9.38% since the market opened.
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