Iltani Resources awarded grant for Orient Project

Iltani Resources Limited (ASX: $ILT) has been awarded a $299,000 grant through Round 8 of the Collaborative Exploration Initiative (CEI) under the Queensland Department of Resources' Industry Development Plan. The grant will fund drilling a deep diamond drill hole at the Orient silver-indium discovery, located on EPM 27223 in Northern Queensland.

Iltani Managing Director Donald Garner's Commentary

We are pleased to receive this CEI funding from the Queensland Department of Resources which will enable Iltani to complete our first deep diamond hole at Orient. The hole will target a deep geophysical anomaly located below the Orient West silver-lead-zinc-indium mineralisation. This mineralisation has an epithermal texture and is associated with a broad area of hydrothermal alteration which envelops the mineralised structures and is believed to be the upper levels of an epithermal-porphyry system. The deep geophysical anomaly is potentially representative of the intrusion (porphyry) which is believed to be present at depth under the Orient system and the likely fluid source for the epithermal silver-lead-zinc-indium mineralisation. We will continue to drill the shallower epithermal mineralisation at Orient, with plans to get the drill rig back at the end of April to complete the remaining Stage 2 RC drill holes. Once this round of drilling has been completed, we will then mobilise the diamond rig to Orient West to test the deeper porphyry target. The diamond hole will be the deepest hole drilled to date at Orient and is incredibly exciting as we will start to see what sits at depth under Orient.

Iltani Resources Orient Project Grant Summary

Iltani Resources has been awarded a grant to fund drilling a deep diamond drill hole at the Orient silver-indium discovery in Northern Queensland. The grant, received through Round 8 of the Collaborative Exploration Initiative (CEI), will contribute to drilling a deep diamond hole to test a large scale geophysical anomaly located beneath the Orient West silver-lead-zinc-indium mineralised system. This drilling aims to confirm the potential for a porphyry system at depth and better understand the architecture of the Orient system, including the source of mineralising fluids and potential larger accumulations of mineralisation associated with the porphyry at depth. Iltani expects to commence the deep diamond hole following completion of its Stage 2 RC drilling program at Orient, scheduled to begin towards the end of April 2024.