Nov 6, 2024

Iltani Resources Intersects 7m @ 7.61% Sb at Antimony Reward, Queensland

Introduction:

Iltani Resources Limited (ASX: ILT) has reported high-grade antimony drill results from its Antimony Reward Project near Herberton in North Queensland, highlighted by 7m @ 7.61% Sb from 38m including 1m @ 26.70% Sb.

Drill Results:

7m @ 7.61% Sb from 38m (including 3m @ 8.19% Sb from 38m and 1m @ 26.70% Sb from 43m) (ARRC001)
9m @ 0.94% Sb from 53m (including 2m @ 2.66% Sb from 60m) (ARRC004)
3m @ 0.75% Sb from 31m (including 1m @ 1.25% Sb from 32m) (ARRC003)‍
4m @ 0.43% Sb from 42m (including 1m @ 1.28% Sb from 43m) (ARRC003)

Project Overview:

The Antimony Reward Project is located on Iltani's wholly owned exploration permit EPM 27168, approximately 45km from Herberton and 17km from the company's Orient Silver-Indium project in Northern Queensland. The project is part of Iltani's larger Herberton Project portfolio in the region.

The North Vein System at Antimony Reward hosts stibnite (Sb2S3) mineralization associated with chalcedonic quartz veining. The veins are interpreted to occur as subparallel structures trending northeast-southwest and dipping steeply to the north. Drilling to date has tested approximately 150m of strike length with material antimony intersections to 80m below surface.

Program Details:

The current program comprised 18 RC drill holes, with results reported for ARRC001 to ARRC008. These holes targeted the North Vein System, with seven of the eight holes intersecting antimony mineralization. Assays are pending for the final three holes on the North Vein (ARRC009, ARRC017, ARRC018) and seven holes drilled on the South Vein (ARRC010 to ARRC016). The program aimed to confirm previous drilling results from 2008 and better understand the structural controls on mineralization.

Understanding These Results:

The reported intersections represent downhole widths. The high-grade nature of some intercepts, such as 1m @ 26.70% Sb, indicates zones of intense mineralization within the vein system. The continuity and extent of veining remain to be fully determined.

These initial results confirm the presence of high-grade antimony mineralization at Antimony Reward. The structural complexity noted by management suggests careful interpretation will be required to optimize future drilling and resource definition.

Management Commentary:

Donald Garner, Iltani Managing Director:

“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.”

Next Steps & Catalysts:

Assay results are pending for the remaining drill holes, with processing times at the laboratory extended to 4-6 weeks due to high sample volumes ahead of the wet season in Northern Australia.

Once all assay results are received, Iltani plans to interpret the data and structural controls to plan the next phase of exploration at Antimony Reward. This may include additional drilling to further define the extent and continuity of mineralization.

Commodity Outlook:

Antimony is classified as a critical mineral by many countries due to its use in flame retardants, lead-acid batteries, and other industrial applications. The Herberton region of Queensland has a history of antimony production, and high-grade deposits like Antimony Reward could be strategically important as nations seek to secure supply chains for critical minerals.

Conclusion:

The initial drill results from Antimony Reward have confirmed high-grade antimony mineralization, with intercepts up to 26.70% Sb. While the geology appears more complex than initially thought, these results provide a strong foundation for future exploration. With additional assays pending and plans for further interpretation, the geological story continues to unfold at the site.

Sources:

ILT Drill Results Announcement

Additional Figures:

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Dec 2, 2024