Critical minerals and base metals explorer Iltani Resources on Friday announced that it had been granted a new copper exploration licence (EL) adjacent to Sibanye-Stillwater’s Mount Lyell copper project in Tasmania.
This increases Iltani’s exposure to copper with EL6/2024 containing the known secondary copper deposits, including King Lyell – Copper Clays, as well as multiple additional mineral occurrences and historical exploration targets.
“While we are focused on exploring and developing the Orient and Antimony Reward projects in Queensland, as part of Iltani’s ongoing business development activities we are seeking to target opportunities which will increase Iltani’s exposure to critical minerals and copper. In this case, we identified an opportunity to apply for vacant ground in Tasmania containing known secondary copper (the Copper Clays) mineralisation, which is contiguous with Mt Lyell, a major copper deposit,” commented MD Donald Garner.
The previous owner completed a scoping study on the King Lyell deposit in 2007 and a resource drilling programme in 2011.
With the licence granted for a five-year period to 14 August 2029, this gives Iltani an opportunity to undertake a detailed review of the Copper Clays project plus the multiple other historical mineral occurrences and exploration targets on the EL to decide the best route to maximise value from this project. 