Iltani Resources Secures $230,375 Grant for Queensland VTEM Survey

Queensland Government Backs Exploration Initiative That Could Unlock Major Silver-Indium Discoveries

Iltani Resources Limited (ASX: ILT) has secured a $230,375 grant through Round 9 of Queensland's Collaborative Exploration Initiative (CEI) to fund a helicopter-borne geophysical survey that could significantly expand the company's understanding of its promising Herberton Project.

The grant will finance a comprehensive Versatile Time Domain Electromagnetic (VTEM) survey covering 464 line kilometres across the company's Featherbed Volcanics project area, focusing on the Orient Silver-Indium Deposit and the underexplored Boonmoo Sag Caldera.

The VTEM survey, expected to be completed by June 2025, will employ advanced electromagnetic and magnetic technologies to detect conductive mineral bodies beneath the surface—particularly targeting silver, lead, zinc, and indium mineralisation that may remain hidden from traditional exploration methods.

Strategic Survey Design Targets Multiple High-Potential Zones

The planned survey has been strategically designed to cover two key target areas:

Orient Silver-Indium Deposit Area:

• 100m line spacing for detailed coverage
• Targeting mineralisation undercover between Orient West and East
• Extending exploration to Orient North, South, and Deadman Creek
• Building on successful 2024 downhole EM survey that identified strong sulphide responses

Boonmoo Sag Caldera:

• 200m line spacing across this underexplored region
• Targeting mapped tourmaline breccia pipes discovered in 2023
• Investigating historical small-scale base metal mines within the Caldera Complex
• Assessing potential for deep-seated intrusive-related base metal mineralisation

"The survey has the potential to be a game-changer for Iltani in multiple areas," said Managing Director Donald Garner. "We know the sulphide mineralisation at Orient responds well to EM from the work we did last year. Flying the Orient area should enable us to locate more sulphide mineralisation—including deposits at depth and undercover."

Unlocking the "Orient Undercover Zone"

One of the most compelling targets is the area between Orient West and East, where alluvium and colluvium cover potentially mask extensive mineralisation. Previous drilling in this zone (hole ORR025) targeting a blind geophysical anomaly has already confirmed multiple silver-lead-zinc-indium veins beneath approximately 5 metres of cover sediments, including:

• 2m @ 145.3 g/t Ag Eq. from 163m
• 2m @ 143.1 g/t Ag Eq. from 219m

These intercepts validate Iltani's hypothesis that the Orient System continues under recent cover sediments, suggesting significant potential to expand the known resource. The VTEM survey aims to provide a comprehensive picture of this hidden mineralisation, enabling more precise targeting for future drilling campaigns.

What is VTEM Technology and Why It Matters to Investors

Versatile Time Domain Electromagnetic (VTEM) technology represents one of the most advanced airborne geophysical methods available to mineral explorers today. For investors, understanding this technology provides insight into why this survey could be transformative for Iltani Resources secures grant for geophysical survey prospects.

VTEM works by inducing a primary magnetic field into the earth, which produces eddy currents in any conductive bodies it encounters. These eddy currents generate a secondary magnetic field that the VTEM system can measure. Importantly, stronger conductors (like massive sulphide deposits) produce slower-decaying secondary fields, making them clearly identifiable as "late-time" responses.

The technology is particularly valuable for:

1. Directly detecting massive sulphide mineralisation – ideal for Iltani's silver-lead-zinc-indium targets
2. Imaging beneath cover material – allowing exploration in areas where visual prospecting is impossible
3. Mapping geological structures in 3D – helping to understand the orientation and extent of mineralised systems
4. Covering large areas efficiently – generating multiple drill targets in a single survey

For Iltani, whose 2024 downhole EM work already confirmed strong conductivity responses from the Orient West vein system, this airborne survey represents a logical and cost-effective next step to potentially expand the resource significantly.

The Untapped Potential of Boonmoo Sag Caldera

Perhaps the most intriguing aspect of the planned survey is its coverage of the Boonmoo Sag Caldera, an area historically overlooked by previous explorers who were primarily focused on tin mineralisation.

Iltani's 2023 reconnaissance exploration in this area yielded exciting discoveries:

• A cluster of tourmaline breccia pipes associated with an extensive alteration system
• Confirmation of base metal potential at historical workings (Boonmoo Bonanza and Union Jack)
• Evidence suggesting a larger, undiscovered mineralising system may have operated in the caldera

The tourmaline breccia pipes are particularly significant. These structures, sometimes extending more than 1km vertically, can host high-grade copper sulphide mineralisation and may indicate the presence of porphyry copper deposits at depth.

The company identified multiple breccia pipes, including:

• A 50m diameter pipe with dominant tourmaline matrix and angular quartz clasts
• A 75m diameter "shingle type" breccia pipe with sheeted quartz veining and rare sulphides

Shingle-type breccias are considered highly prospective exploration targets due to their high clast-to-matrix ratio, which provides permeability for sulphide mineralisation.

Timeline and Next Steps

The VTEM survey is scheduled for May/June 2025 and will be conducted by UTS Geophysics using Geotech Ltd.'s VTEM Max system, with interpretation by Kate Hine of Mitre Geophysics.

Results from the survey will guide:

• Further exploration at the Orient Silver-Indium deposit
• Target generation across the broader Herberton Project
• Drill planning for both the Orient Undercover Zone and the Boonmoo Sag Caldera

Investment Perspective: Why This Matters

For investors following Iltani Resources secures grant for geophysical survey, this government-funded survey represents a significant value-add with minimal dilution impact. The $230,375 grant allows the company to undertake sophisticated exploration that could substantially increase the resource potential of its flagship Herberton Project.

The survey targets both near-term resource expansion (at Orient) and blue-sky exploration potential (at Boonmoo Sag Caldera), providing a balanced approach to value creation.

Particularly noteworthy is Iltani's positioning as an explorer for metals critical to the low-emission future, with its focus on silver, indium, and base metals. The Orient deposit is already positioned as "Australia's most exciting silver-indium discovery," and this survey has the potential to significantly enhance that status.

Why Investors Should Follow Iltani Resources

Iltani Resources secures grant for geophysical survey presents a compelling investment case for several reasons:

1. Advanced exploration with proven mineralisation – The Orient Silver-Indium deposit has already demonstrated significant grades and continuity

2. Strategic focus on critical and precious metals – The company targets metals essential for the green energy transition, including silver and indium

3. Government-backed exploration – The CEI grant validates the technical merit of Iltani's exploration approach

4. Multiple growth pathways – From expanding the known Orient deposit to unlocking the potential of the Boonmoo Sag Caldera

5. Experienced technical team – Management has demonstrated the ability to identify and advance promising targets

With the upcoming VTEM survey potentially generating multiple new drill targets across both the Orient Silver-Indium system and the promising Boonmoo Sag Caldera, Iltani is positioned for a potential step-change in its resource potential. The results, expected in mid-2025, could serve as a significant catalyst for the company as it advances its goal of developing Australia's premier silver-indium resource.

Curious About Australia's Most Exciting Silver-Indium Discovery?

Iltani Resources' government-backed exploration initiative could be transformative for investors seeking exposure to critical and precious metals. With promising mineralisation already confirmed at the Orient Silver-Indium Deposit and untapped potential in the Boonmoo Sag Caldera, the company is strategically positioned to capitalise on metals essential for the green energy transition. Discover how Iltani's sophisticated VTEM survey could unlock substantial resource potential at the Herberton Project by visiting their website for comprehensive investor information.