Highlights

  • Drilling at Orient included 41 RC holes and 7 diamond holes during the quarter.
  • Hole ORR210 returned 19m at 343 g/t silver equivalent, including high-grade zones.
  • First-pass TOMRA ore sorting test work was successful.
  • A $4.6 million placement was completed after the quarter, including a $1.5 million commitment from QIC.

Iltani Resources Limited (ASX:ILT) has released its quarterly activities and cash flow report for the period ended 30 September 2026. The company continued drilling at its Orient silver-zinc-indium project in Queensland, reported strong assay results, completed initial ore sorting test work and raised additional capital after the quarter.

Orient Drilling and Assay Results

The Orient Project, about 120km south-west of Cairns, is described by the company as "Australia's largest known silver-zinc-indium deposit." It hosts a Mineral Resource of 62.5Mt at 81.5 g/t silver equivalent at a 30 g/t cut-off. During the quarter, Iltani completed 41 RC holes for 7,713m and seven diamond holes for 645m.

Results from 65 RC holes were released. Key intercepts included 19m at 343 g/t silver equivalent in ORR210, 28m at 318 g/t silver equivalent in ORR164, and a broad zone of 100m at 73 g/t silver equivalent in ORR172. ORR210 also included 3m at 1,811 g/t silver equivalent with elevated indium. Indium is a critical mineral used in touch screens and data-centre optical transceivers.

Ore Sorting Test Work and Regional Exploration

First-pass TOMRA X-ray transmission sorting test work on high-grade and low-grade samples successfully upgraded the material, with the company concluding that the mineralisation is amenable to sorting due to the density contrast between sulphides and host rock. A seven-hole PQ diamond program has been completed to provide samples for the next phase of testing.

Regional drilling at the Herberton Project included eight RC holes for 1,466m at the Boonmoo Epithermal and Union Jack targets. Iltani also lodged applications for three new exploration permits in Queensland, including Delaney Extended, which could potentially provide satellite feed for Orient.

Funding and Next Steps

Cash stood at $4.18 million at 30 September 2026. On 2 October, the company raised $4.6 million through a placement at $0.39 per share, with one free attaching option for every two shares. QIC's Queensland Critical Minerals Fund committed $1.5 million, and the remaining proceeds depend on shareholder approval at the 2026 AGM.

Next steps include further ore sorting test work, continued infill and extension drilling at Orient, ongoing regional exploration at Herberton and awaiting the outcome of the new permit applications. The company expects operating outflows to be lower than in the September quarter, which included much of the 2026 drilling program.

Key Takeaways

  • Orient continues to return high-grade silver and indium intercepts.
  • Successful ore sorting test work could support processing efficiency.
  • New permit applications expand Iltani's footprint in Queensland.
  • The $4.6 million placement, including QIC support, strengthens the company's funding.