Iltani Resources (ASX: ILT) Hits Record 106m Orient Intercept

Iltani Resources has reported the thickest mineralised intercept drilled at its Orient Silver Zinc Indium Project in northern Queensland, ahead of a resource update expected in the fourth quarter of 2026.

Hole ORR221 returned 106 metres at 143 grams per tonne silver equivalent from eight metres, including 22 metres at 384 grams per tonne from 52 metres. The high-grade section contained four metres at 771 grams per tonne, including one metre at 1,043 grams per tonne silver equivalent.

Using a gold price of US$3,950 an ounce and a US$51-an-ounce silver price for comparison, those grades correspond to approximately 1.85, 4.96, 9.95 and 13.47 grams per tonne gold equivalent, respectively.

The shallow start and broad interval are relevant to Iltani’s assessment of Orient East’s open-pit potential. The reported intersections are downhole widths rather than confirmed true widths.

High-grade zones across multiple holes

The latest assays cover 15 reverse-circulation holes at Orient East. Iltani reported 15 intersections with more than 1,000 silver-equivalent grade metres. Five one-metre assays exceeded 1,000 grams per tonne silver equivalent.

The highest-grade one-metre result came from ORR225, which returned 1,775 grams per tonne silver equivalent, or about 22.92 grams per tonne gold equivalent on the same price basis. It was within a broader 35-metre intersection grading 163 grams per tonne silver equivalent, or about 2.10 grams per tonne gold equivalent, from 65 metres.

That one-metre interval assayed 726 grams per tonne silver, 65 grams per tonne indium, 17.7% lead and 7.8% zinc.

ORR228 delivered 32 metres at 227 grams per tonne silver equivalent from 40 metres, including 10 metres at 521 grams per tonne. Those grades equate to approximately 2.93 and 6.73 grams per tonne gold equivalent, respectively. A separate 28-metre interval grading 85 grams per tonne silver equivalent from surface equates to about 1.10 grams per tonne gold equivalent.

Silver-equivalent grades combine silver, lead, zinc and indium using commodity-price and recovery assumptions disclosed by Iltani. The gold-equivalent comparisons are price-based conversions of those reported silver-equivalent grades.

Southern boundary remains unresolved

ORR239 was designed to test a possible southern mineralisation boundary but intersected 38 metres at 92 grams per tonne silver equivalent from 135 metres, followed by 16 metres at 96 grams per tonne from 181 metres. These correspond to approximately 1.19 and 1.24 grams per tonne gold equivalent.

Iltani said further drilling would be required across multiple sections to establish the southern and southwestern limits.

Orient currently has a mineral resource of 62.5 million tonnes at 81.5 grams per tonne silver equivalent, comprising 38.8 million indicated tonnes and 23.7 million inferred tonnes. It contains an estimated 45.9 million ounces of silver and 725 tonnes of indium, alongside lead and zinc.

The initial 110-hole infill and extension program is complete. Iltani expects the resource update to feed into a scoping study planned for early 2027.

The company is planning another 145-hole program, mainly targeting the Link Zone and Orient West northeast extension. Subject to rig availability, drilling is scheduled to begin in November 2026 before the northern Queensland wet season.