Iltani Resources (ASX:ILT) Intersects high-grade antimony mineralisation at Antimony Reward
6 November 2024
Price Sensitive Announcement $
Highlights:
▪ Assays received for ARRRC001 to ARRRC008. Drilling has confirmed the presence of high-grade antimony mineralisation, with the following material intercepts:
▪ ARRC001 intersected 7m @ 7.61% Sb from 38m inc. 3m @ 8.19% Sb from 38m and 1m @ 26.70% Sb from 43m downhole.
▪ ARRC003 intersected 3m @ 0.75% Sb from 31m inc. 1m @ 1.25% Sb from 32m and 4m @ 0.43% Sb inc. 1m @ 1.28% Sb from 42m downhole.
▪ ARRC004 intersected 9m @ 0.94% Sb from 53m inc. 2m @ 2.66% Sb from 60m downhole.
▪ Assays results pending from the final 3 holes (ARRC0009, ARRC0017 & ARRC0018) drilled on the North Vein and 7 holes (ARRC0010 to ARRC0016) drilled on the South Vein.
Overview:
Critical minerals and base metals explorer Iltani Resources Limited has updated the market on assay results from the Antimony Reward Project in Herberton, North Queensland.
- Antimony Reward Project
Iltani Resources’ Herberton Project (Figure 1) includes the Antimony Reward antimony deposit, located on Iltani’s wholly owned exploration permit EPM 27168, and is approximately 45km from Herberton, and 17km from the Orient Silver-Indium project, in Northern Queensland.
- Antimony Reward Drilling Results
Iltani is pleased to announce assay results from drillholes ARRC001 to ARRC008 at its Antimony Reward project, located near Herberton in Northern QLD. The eight drill holes were designed to test the North Vein System at Antimony Reward. Antimony mineralisation (where the antimony is present as stibnite, Sb2S3) was intersected in seven holes, returning the following material intercepts (also refer to Table 1):
▪ ARRC001 intersected 7m @ 7.61% Sb from 38m inc. 3m @ 8.19% Sb from 38m and 1m @ 26.70% Sb from 43m downhole;
▪ ARRC003 intersected 3m @ 0.75% Sb from 31m inc. 1m @ 1.25% Sb from 32m and 4m @ 0.43% Sb inc. 1m @ 1.28% Sb from 42m downhole; and
▪ ARRC004 intersected 9m @ 0.94% Sb from 53m inc. 2m @ 2.66% Sb from 60m downhole.
The North Vein System stibnite mineralisation is associated with chalcedonic quartz veining interpreted to occur as subparallel veins trending northeast-southwest and dipping steeply to the north. The geometry of the veins as interpreted from drill hole intersections is consistent with surface observations. The results received to date cover 150m strike extent of the trend with material Sb intersections to 80m below surface.
Assay results are pending for the final three holes (ARRC0009, ARRC0017 & ARRC0018) drilled in the North Vein System, one to the southwest and two to the northeast of the drill holes. The continuity and extent of the veining remains to be determined. ARRC008 was abandoned at 23m due to excessive water flow.
Some holes to the southwest could not be optimally sited due to strong silicification of outcrop that will require significant earthworks, hence it was decided to confirm the grade and width of Sb at depth by undertaking a small drilling program prior to committing to expansive earthworks. Results received to date have confirmed the tenor of antimony mineralisation and confirmed interpreted geometry of the veins.
Assay results from the remaining drillholes (ARRC009 to ARRC018) are pending. The assay results from these holes are likely to be delayed, as the sample processing time at the assay lab has been extended to 4 to 6 weeks due to an influx of samples from numerous exploration companies undertaking work prior to the upcoming wet season.
Company Notes:
Iltani Managing Director Donald Garner commented: “It is good see that our initial drilling at Antimony Reward has confirmed the presence of high-grade antimony mineralisation following on from Kangaroo Metals previous drilling in 2008. The geology is proving to be more complex with a structural control that needs to be interpreted prior to the next phase of drilling”
Assay results are coming back later than anticipated, as processing times at the assay lab have extended to 4 to 6 weeks due to an influx of samples from companies undertaking work prior to the upcoming wet season in Northern Australia.
Once we have the final assay results back from the remaining holes drilled at Antimony Reward, we can plan the next phases of exploration.”