Iltani Resources (ASX) has announced significant findings from drilling at its Orient Project in North Queensland, revealing multiple high-grade silver-lead-zinc-indium vein systems. The standout result came from hole ORR030, where the company intercepted up to 1,552 grams per tonne (g/t) silver equivalent, including 266g/t silver, 500g/t indium, 5% lead, and 17.4% zinc from a depth of 28 meters.
This discovery represents the highest grade of mineralization encountered thus far at the project. Moreover, within a broader zone, a 9-meter intercept yielded 334g/t silver equivalent, with notable concentrations of silver, indium, lead, and zinc contributing to the overall findings.
Indium, a crucial component in high-tech applications such as touchscreens, flat screen displays, and solar panels, underscores the strategic importance of these findings. Donald Garner, Managing Director of Iltani Resources, highlighted the potential to establish a substantial high-grade core at Orient West, extending potentially over 700 meters along strike.
The Orient West mineralized system, part of the broader Herberton Project, has been delineated over a strike length of at least 1.25 kilometers and to depths of 150 meters, with mineralization remaining open in multiple directions. Garner expressed optimism about Orient’s prospects, emphasizing its potential to become a significant silver-indium deposit in Australia.
The company, with a current market capitalization of $11.5 million, continues to await assay results from additional drill holes and plans to commence estimating an initial exploration target for Orient West following receipt of all data. Additionally, recent deep drilling efforts targeting the down dip extension and a magnetic anomaly indicative of mineralization source are part of ongoing exploration activities at the site.
The Herberton Region’s rich mining history, dating back to 1880 with the discovery of tin, underscores the area’s mineral potential, encompassing numerous historical mines and mineral occurrences spanning tin, copper, zinc, lead, silver, antimony, and tungsten.
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