Highlights

  • Iltani Resources released final assay results for Orient VTEM drill holes ORR138 to ORR140, completed in the 'Link Zone' between the Orient West and East Mineral Resources. ORR138 delivered the standout intercept: 10m at 111.7 g/t Ag, 44.1 g/t In, 2.2% Pb and 2.1% Zn from 104m, including 5m at 200.4 g/t Ag, 85.4 g/t In, 3.8% Pb and 3.6% Zn from 107m, and a peak of 1m at 437.2 g/t Ag, 265.2 g/t In, 8.1% Pb and 10.4% Zn from 110m.
  • The Link Zone holes were drilled in an area not currently included in the Orient Mineral Resource estimate, and the high-grade results demonstrate the potential to link the Orient West and East resources — a development that could materially increase the total estimated resource at the Orient Silver-Indium Project, Australia's largest known silver-indium deposit.
  • ILT shares gained AUD 0.024 (6.172%) to AUD 0.430 on volume of 8,935 on 22 April 2026. The quarterly reported a cash balance of AUD 8.14 million at 31 March 2026, with the company preparing for a significantly ramped-up 2026 drilling season at Herberton following the completion of the wet season.

 

Iltani Resources (ASX:ILT) shares gained AUD 0.024, or 6.172%, to AUD 0.430 during the trading session on 22 April 2026, on volume of 8,935 shares with a bid-offer spread of AUD 0.410 to AUD 0.425 and a market capitalisation of AUD 31.78 million. The relatively low volume of 8,935 shares is characteristic of a micro-cap explorer, yet the 6.2% gain on that volume reflects concentrated investor interest in the Link Zone drilling results — particularly the outstanding ORR138 intercept at 437.2 g/t Ag and 265.2 g/t In. For a stock of this size, high-grade silver-indium results at this magnitude, in an area that could link two existing Mineral Resources, represent a genuinely significant exploration outcome.

ORR138: The Outstanding 437 g/t Silver Intercept

Drill hole ORR138 is the standout result of the Orient VTEM programme's final holes. The composite intercept of 10m at 111.7 g/t Ag, 44.1 g/t In, 2.2% Pb and 2.1% Zn from 104m depth is a strong polymetallic silver-indium result in its own right. Within this, the 5m subinterval at 200.4 g/t Ag, 85.4 g/t In, 3.8% Pb and 3.6% Zn from 107m narrows to an exceptional 1m at 437.2 g/t Ag, 265.2 g/t In, 8.1% Pb and 10.4% Zn from 110m — a bonanza-grade intercept at depth.

The simultaneous presence of very high silver (437.2 g/t), elevated indium (265.2 g/t), and meaningful base metals (Pb 8.1%, Zn 10.4%) in a single metre is characteristic of the style of high-grade, vertically zoned VMS mineralisation that Iltani is targeting at Orient. Indium is a critical technology metal used in flat panel displays, thin-film solar cells, and semiconductors, commanding significant market premiums when present in economic concentrations alongside silver and base metals.

The Link Zone and its Significance for the Orient Resource

ORR138 to ORR140 were drilled specifically in the Link Zone — the spatial gap between the separately delineated Orient West and Orient East Mineral Resources. These holes are not currently included in the Orient Mineral Resource estimate because they represent new drilling in an area between the two separately modelled resources rather than infill within either resource domain. The results from ORR138 demonstrate that high-grade mineralisation exists in the Link Zone gap, raising the possibility that Orient West and Orient East are part of a continuous mineralised system rather than two separate bodies.

If subsequent drilling confirms that the Link Zone hosts continuous mineralisation at grades consistent with ORR138, the practical consequence would be a meaningful increase in the total Orient Mineral Resource through the incorporation of Link Zone material into a combined West-East-Link resource model. This would change the scale narrative for Orient from two discrete deposits to a larger, potentially connected system — a distinction that carries significant implications for project economics and development optionality.

Other Link Zone Results and 2026 Drilling Season Preparations

ORR139 returned 6m at 47.6 g/t Ag, 8.5 g/t In, 1.2% Pb and 1.0% Zn from 115m, including 1m at 212.1 g/t Ag, 44.1 g/t In, 5.1% Pb and 4.0% Zn from 119m — confirming multi-metal mineralisation in the Link Zone beyond the ORR138 intercept. ORR140 returned 5m at 26.2 g/t Ag, 2.1 g/t In, 0.7% Pb and 0.7% Zn from 86m, lower grade but still confirming the presence of the same polymetallic system.

Site activities at the Herberton Project were paused for the majority of Q1 2026 due to the wet season, with 626mm of rainfall recorded between January and March. Access was re-established in March and preparation work — including pegging, clearing drill pads, and access road work — commenced. Iltani is planning to significantly ramp up drilling at the Orient Silver-Indium Project in the 2026 season and to commence drill testing of multiple additional targets: Boonmoo Epithermal, Union Jack, Isabel, and Isabel Extended. Cash at 31 March 2026 was AUD 8.14 million.

Conclusion

Iltani Resources' 6.172% session gain to AUD 0.430 on 22 April 2026 reflects the market's positive reception to final Orient Link Zone drilling results that deliver a peak intercept of 1m at 437.2 g/t Ag and 265.2 g/t In from ORR138 — in an area between the Orient West and East Mineral Resources that is not yet included in the current resource estimate. The results confirm that the Link Zone hosts the same high-grade silver-indium-lead-zinc mineralisation style as the main Orient system, raising the prospect of resource linkage. With cash of AUD 8.14 million and site access re-established ahead of a significantly expanded 2026 drilling season, Iltani is positioned to test this potential in the near term.