Olinte becomes Australia's largest silver-indium mine

According to a report from MiningNews.net, Iltani Resources announced the first resource estimate for its Orient silver-indium project in Queensland.

Based on a silver equivalent grade of 60 g/t, the Orient West deposit has an inferred ore resource of 21.6 million mt, with a silver equivalent grade of 100.5 g/t, equating to 18.7 million ounces of silver equivalent.

The company stated that 56% of the first resource estimate falls within the "inferred" category.

If the cut-off grade is reduced to 30 g/t, the resource estimate increases to 27 million ounces, with a grade of 73.9 g/t.

The choice of cut-off grade will depend on the overall price levels over the past few years.

Silver prices have shown strong performance over the past year, currently trading at $37/ounce, $10 higher than the price in July 2024.

During the same period, indium prices have risen by 23%, currently trading at approximately $711/kg.

Silver has a wide range of industrial applications, while indium is used in several modern technologies.

The Orient West deposit has been drilled over a strike length of 1,050 meters, with an average drilling depth of 200 meters. The mineralization system remains open to the north-west, extending 1,200 meters in that direction.

There is also potential for an additional 25-30 million mt of ore resources to be delineated at Orient West, with an average grade of 53-64 g/t.

Previously, the total exploration target for the Orient East and Orient West deposits was 32-42 million mt of ore, with a grade of 110-124 g/t and a cut-off grade of 80 g/t.

The first resource estimate for Orient East will be announced in September.

Despite the limited exploration conducted so far, the Orient project is said to have become the largest known silver-indium deposit in Australia. The company stated that its next focus will be on completing infill drilling at Orient East and, if possible, regional target drilling.

Orient East remains open to the north, south, and west, and is likely connected to Orient West.

Although the initial focus has been on silver-indium, the company's model suggests that zinc lies beneath the current resource estimate, potentially transitioning further down to copper and/or tin.