Orient restarts as silver soars

Iltani Resources is exploring what it believes to be Australia’s largest silver-indium deposit at just the right time, with the silver price recently surging to new heights.

The silver price recently topped $US34 per ounce (oz), a mark not seen in decades, amidst continued global trade wars. Like gold, silver is often turned to as a safe haven asset in times of uncertainty.

Iltani recently restarted drilling at its Orient project in northern Queensland, with a reverse circulation (RC) drill rig conducting infill drilling program at the Orient West prospect to begin with.

A second RC rig is expected to begin drilling at Orient East by the end of March, with a diamond drill rig scheduled to arrive in late April to complete four additional holes – two at each prospect.

Data from the drilling programs will be used by independent mining consultant Mining One to model and estimate the initial JORC resources for both Orient West and Orient East.

Iltani also plans to expand the deposit by targeting Orient North, Orient South, and mineralisation between Orient West and East.

“With the silver price now touching $US34/oz, or more than $53/oz, we are starting drilling at Orient – Australia’s largest silver-indium deposit,” Iltani managing director Donald Garner said.

“What a great time to get our drilling underway and move forward our exploration at Orient.

“We are hopeful the drilling picks up where we paused at Orient West at the end of 2024, producing results that delivered high-grade mineralisation.”