Drilling of the remaining holes under the Stage 2 drill program will resume early in the new year. Pic via Getty Images
Mining
Special Report: Iltani Resources has completed eight RC holes under the initial phase of its Stage 2 drilling program at the Orient silver-lead-zinc-indium project in northern Queensland.
Stage 1 drilling was completed in August this year – the first at Orient in over 35 years – and returned multiple wide intersections of 30-40m thick silver-lead-zinc-indium mineralisation at the Orient East and West target areas.
Top intersections at Orient East and West were 38m grading 190 grams per tonne (g/t) silver equivalent from a down-hole depth of 19m and 41m at 125g/t silver equivalent from 60m respectively.
Not bad results at all for Iltani Resources (ASX:ILT) given that it had only listed on the ASX in June 2023.
Adding fuel to the fire, recent mapping has indicated the Orient mineralisation extends over at least 4km2 with extensive zones of argillic, phyllic and propylitic alteration, indicating there’s likely to be more of that tasty silver-lead-zinc-indium to be found.
Test work has also confirmed the viable production of separate lead-silver and zinc-indium-silver concentrates from the project.
Unsurprisingly, the company jumped quickly to start Stage 2 drilling, which is expected to consist of 23 reverse circulation (RC) holes – nine at Orient East, 11 at Orient West and three at Deadman Creek – to follow-up on its earlier success.
ILT completed five RC holes totalling 988m at Orient West and three holes totalling 288m at Orient East before forecast inclement weather brought on by Cyclone Jasper – the first tropical cyclone of this summer – led it to pause drilling and demobilise the rig.
The rig will return early in 2024 to complete the remainder of the Stage 2 drilling.
This isn’t too far off from the company’s original plan to drill to mid-December before pausing for the wet season.
“It has been fantastic to restart drilling at the Orient project. The results we received from our Stage 1 drilling program significantly exceeded our expectations, with the drill bit delivering wide intersections (30-40m thick) of silver-lead-zinc-indium mineralisation at potentially open pittable depths,” ILT managing director Donald Garner said.
“The Stage 2 drilling program aims to extend the mineralisation drilled in Stage 1 and test multiple stockwork targets recently mapped by a consultant geologist Nick Tate, including the Deadman Creek stockwork target.
“After completing eight RC holes (for 1,276m drilled), we decided to demobilise the RC rig from site due to the forecast inclement weather associated with Cyclone Jasper. Dispatch of samples to ALS in Townsville has commenced, and we look forward to receiving the assay results.
“We will be back at Orient in early 2024 when the wet season abates to complete the Stage 2 drilling program.”
Besides resuming Stage 2 drilling, ILT also expects to receive assay results from the initial drilling within 4-6 weeks of sample submission.
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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