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Iltani expands Herberton ground to build a silver-indium district

Iltani Resources (ASX: ILT) has moved to expand its North Queensland footprint, applying for new ground around its Orient silver-indium project near Herberton.

The company said it had lodged applications for three exploration permits during the June quarter and was named the priority applicant for each in a competitive process.

The permits — Silver Dollar, Sand Creek and Cherry Creek — target silver, indium, lead, zinc and gold, and Iltani expects them to be granted within a year.

Main image: RC drilling at Orient

The company said it was targeting prospective ground within trucking distance of a potential future processing plant at Orient.

Iltani said the applications reflected its strategy of consolidating prospective ground around Orient, in the historic Herberton Mineral Field.

The company describes Orient as Australia’s largest known silver-indium deposit, about 120 kilometres south-west of Cairns.

Track mounted RC rig drilling at the Orient Silver Indium Project

Site work restarted during the quarter, with two reverse circulation rigs mobilised to begin a planned 115-hole infill and expansion program.

By quarter end, Iltani said it had completed 67 holes and submitted samples for assay, with results pending.

The company had earlier reported broad, high-grade silver-indium intersections from its first Orient West holes.

Iltani said the drilling aimed to upgrade and extend the current resource and convert exploration-target ground into new resources.

Metallurgical test work with Core Resources continued during the quarter.

Iltani ended the quarter with $7.52 million in cash, backed by an $8 million funding package from the Queensland Investment Corporation.

The company spent about $1.05 million on exploration over the three months.

Iltani held roughly 370 square kilometres of wholly owned tenements across the Herberton field, which also hosts copper, tin and gold targets.

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