Iltani Resources is set to begin drilling at its Antimony Reward project in Queensland, after sampling results demonstrated grades of up to 46.5 per cent antimony.
The company has mobilised the drill rig to site, with an initial 1500m, 10-hole reverse circulation program underway targeting high-grade mineralisation.
Mapping and sampling returned an average grade of 16.2 per cent and a peak of 46.5 per cent from vein system 1, with vein system 2 having an average grade of 10.9 per cent and a top result of 17.7 per cent.
Iltani managing director Donald Garner said said he was eager to see what the drill bit would deliver.
“The initial drilling program should take approximately 10 days to complete,” he said.
“Whilst we are awaiting the assay results, the drill rig will move 17km along the road to our exciting Orient project to continue to drill and expand this exceptional silver-indium system.
“Using assay results from the Antimony Reward drilling we can plan what to do next, and subject to results, we could move the drill back from Orient to Antimony Reward for another round of drilling before we demobilise for the wet season.”
The high-grade results from the Antimony Reward project have extended beyond the historical drilling zone at vein system 1, which now has a strike length of 500m. Vein system 2 has a strike extent of 300m and remains undrilled.
Drilling at Antimony Reward dates back to 2008, but it only tested 200m of vein 1’s strike length.
Iltani recently raised $2.1 million to accelerate exploration efforts for antimony and silver.
The lion’s share of the placement comprised institutional and sophisticated investors, with the Iltani board subscribing for $75,000 worth of shares.
Antimony’s demand and value has been increasing due to its applications in solar panels and batteries.
It is now considered a critical mineral by many countries, and in September, prices averaged around $US25,000 ($37,600) per tonne, nearly doubling since early 2024.
This surge follows China’s recent export restrictions on certain antimony products. China is the world’s largest producer of the mineral.
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