Iceni Gold Conducts 14 Mile Well Drilling
THE DRILL SERGEANT: Iceni Gold (ASX: ICL) provided the market with an update on recent exploration activities undertaken on the company’s 14 Mile Well gold project in Western Australia.
Iceni Gold carried out Reverse Circulation (RC) drilling comprising 33 holes on several high priority gold and lithium targets including Claypan, Breakaway, Monument Area, and Guyer Well.
Results from the drilling included:
Guyer Northwest
FMRC0020
4 metres at 0.37 grams per tonne gold from 80m, including 2m at 0.62g/t gold from 80m;
FMRC0009
4m at 0.11g/t gold from 46m;
Monument North
FMRC0004
12m at 0.16g/t gold from 28m; and
Monument South
FMRC0015
2m at 0.38 g/t gold from 14m.
Iceni Gold indicated it was now looking at possible drilling to test beneath the RC intercepts to assess the potential for basement sulphide mineralisation.
Drillholes are currently being designed for other targets at Everleigh Well, Goose Well and Crossroads.
“Drilling was conducted on a number of targets within the 900 square kilometre tenement package in November and December 2023, with a specific focus at Guyer Well which had previously returned significant gold assay results,” Iceni Gold explained in its ASX announcement.
“The RC drilling intersected a number of low-grade (<1g/t) mineralised shears hosted in three adjacent holes confirming the continuity of the mineralised zone.
“Multiple narrow anomalous results were also returned from the drilling and a systematic study of the results will determine the next phase of exploration work.
“Drilling is currently being considered to test beneath the Guyer RC intercepts to assess the potential for basement mineralisation.
“Though the recent round of drilling results is less than desirable it does demonstrate that the 15km long Guyer Shear hosts low grade gold mineralisation and that the focus is now along strike and down dip to test for potential gold deposition trap sites.
“Whilst the Guyer area is being assessed for deeper RC drilling the company will prepare Everleigh Well and Crossroads for the first round of drilling on these targets.
“The company is currently well advanced in selling all surplus equipment, which primarily consists of a Mobile Trailer Camp facility and miscellaneous equipment.
“Sale of these assets are expected to realise significant proceeds by the end of the quarter.”
