Iltani Drills Thick High-Grade Silver-Indium Zones at Orient Project

Exceptional High-Grade Intercepts Bolster Open-Pit Potential

Iltani Resources (ASX:ILT) has unveiled a fresh tranche of assay results from its ongoing reverse circulation (RC) drilling campaign at the Orient Silver-Indium Project in North Queensland. The company reported multiple thick intercepts with silver equivalent grades exceeding 1,000 gram-metres, including standout massive sulphide veins boasting grades above 1,000 g/t Ag Eq. These results reinforce the project's status as Australia's largest and highest-grade silver-indium deposit and underscore the potential for a robust open-pit mining operation with a possible underground component.

Notably, drill hole ORR177 returned a 1-metre intercept grading 1,644 g/t Ag Eq., featuring 137 g/t silver and a remarkable 289 g/t indium, alongside significant lead and zinc concentrations. Other massive sulphide highlights include ORR170's 2 metres at 1,456 g/t Ag Eq. and ORR178's 2 metres at 1,479 g/t Ag Eq., all situated within broader mineralised zones. These high-grade cores could translate into very high-margin tonnes, a critical factor for project economics.

Drilling Program Progress and Resource Update Plans

The current drilling program is well advanced, with 86 of the planned 110 RC holes completed. Iltani expects to finish the initial phase within the next 4-5 weeks. The data from this campaign will feed into an updated Mineral Resource Estimate (MRE), anticipated in Q4 2026, which will subsequently underpin the Orient Silver-Indium Project Scoping Study slated for 2027. This resource update aims to upgrade the core mineralisation to the Indicated category, particularly at Orient East, where drilling density has improved to 40-metre spacing over a strike length of 520 metres and a down-dip extent of 450 metres.

Alongside the drilling, metallurgical test work supports the recoverability and payability of silver, indium, lead, and zinc in separate concentrates. While antimony and tin are present in notable quantities, these metals are currently excluded from the silver equivalent calculations pending confirmation of their economic viability. Future test work may incorporate these elements, potentially enhancing project value.

Resource Scale and Metallurgical Considerations

The Orient Project hosts a substantial Mineral Resource of 62.5 million tonnes at 81.5 g/t silver equivalent, containing significant quantities of silver, indium, lead, and zinc. Indium, classified as a critical mineral, has growing demand in high-tech applications such as touchscreens and AI data centre components, adding strategic importance to the deposit. Historical test work indicates effective recovery of the key metals into concentrates, supporting the economic assumptions behind the silver equivalent formula used by Iltani.

Drilling at Orient West, while generally of modest grade, has also delivered zones of massive sulphide mineralisation with high-grade intercepts, expanding the potential open-pit footprint. The company continues to explore strike extensions and untested areas, with further drilling planned based on assay results and evolving geological interpretations.

Next Steps and Market Implications

As Iltani approaches the conclusion of its initial drilling program, the market will be closely watching the updated resource figures and the outcomes of the forthcoming scoping study. The inclusion of antimony and tin in future metallurgical assessments could materially affect project economics. Meanwhile, the company's ability to maintain drilling momentum and assay turnaround times will be critical in delivering timely updates. With a significant resource base and strong grades confirmed, the Orient Silver-Indium Project remains a compelling development story in Australia's critical minerals sector.