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Iltani Resources Advances Orient Project Growth With RC Drilling Campaign
['Nik Hill']
Small Caps
Iltani Resources (ASX: ILT) completed 67 reverse circulation (RC) drill holes for 12,761 metres at its Orient silver-indium project during the June quarter as a major infill and expansion campaign gathered pace.
Iltani ended the quarter with $7.52 million in cash after spending $1.05m on exploration, geological consulting, drilling, and project study activities.
Building Resource ConfidenceThe program is infilling the Orient East and Orient West resources to demonstrate mineralisation continuity and support potential upgrades to their classification within the mineral resource estimate (MRE).
A higher-grade resource at a 60g/t Ag Eq cut-off contains 34.2Mt at 110.4g/t Ag Eq, comprising 21.5Mt Indicated and 12.7Mt Inferred.
The project also carries an Exploration Target of 35.9Mt to 43.3Mt at 63.6g/t to 78.1g/t Ag Eq, with an estimated higher-grade component of 15.4Mt to 18.8Mt at 95g/t to 117g/t Ag Eq.