Iltani Resources Ltd (ASX:ILT) has listed to the ASX following an oversubscribed $5 million initial public offering (IPO).
Holding a base metal and critical mineral portfolio of seven projects – with one exploration application pending on an eighth – Itlani intends to begin exploration activities at its Herberton operations in Far North Queensland.
The company will initially focus on the Orient silver-lead-zinc-indium-antimony project there, with a stage one drilling program at the Orient East and West prospects, before rolling out a systemic exploration program.
After Orient, ILT will explore the Isabel polymetallic sulphide deposit (highest grade known indium deposit in Australia), the Isabell Extended copper massive sulphide target, and Antimony Reward, a high-grade antimony target.
Multiple drilling programs in the works
“We would like to acknowledge the support of all of our shareholders and advisers who have enabled us to successfully list on the ASX,” Iltani Resources managing director Donald Garner said.
“Now we can begin our exploration program, which will deliver exciting results as we systematically explore our exceptional project portfolio.”
“We will commence exploration at our exciting Orient silver-lead-zinc-indium-antimony project, where we will start with a stage one reverse circulation (RC) drilling program, targeting the mineralisation at Orient East and West, followed by a geophysical exploration program.
“Then we will commence a stage two RC and diamond drilling program targeting extensions to the mineralisation targeted in stage one plus the deeper (starting at 200-250 metres deep) porphyry target.”
The company has also applied for a 99 square-kilometre licence in Tasmania’s Mt Read Volcanics (MRV) Belt, located between the world-class Rosebery and Hellyer-Que River volcanic hosted massive sulphide (VHMS) deposits, which it expects to be granted shortly.
Iltani’s portfolio also includes the Northern Base Metal Project, the Southern Gold Project and the Rookwood Project, all in Queensland.