IIltani Resources Ltd has put out the first round of results...

IIltani Resources Ltd has put out the first round of results from the Herberton silver project this morning.

The results indicate that the company has potentially uncovered a large mineralised system. Whilst it is early days for the project, the silver-lead-zinc equivalent results in most of the holes are comparable or higher than Silver Mines Ltd Bowdens Silver project (ASX:SVL). Silver Mine is currently progressing Bowdens through the approval process to a mine development and its current Market Cap is $238.7M.

Hole 1 at Herberton has a 38 metre intersect with an Ag equivalent of 183.2 g/t. Hole 3 has a 41 metre intersect with an Ag equivalent of 102.8 g/t. Hole 4 has a 5 metre intersect with a Ag equivalent of 155.3 g/t. This is compared to SVL’s Bowdens mine 30 million tonne mining reserve with a 101 g/t Ag equivalent.

The above comparable grades do not include the tin-indium-antimony grades which would likely add additional value to any resource find.

Further results are due in the next 2 - 3 weeks. We eagerly await receiving these, but today's results were a terrific start for the Company.