Iceni Gold makes Vein Gold Discovery to Expand Christmas Gift Shear
THE DRILL SERGEANT: Iceni Gold (ASX: ICL) enjoyed a 300 per cent share price spurt on the back of an exploration update on recent work conducted on the company’s 14 Mile Well gold project in Western Australia.
Fieldwork undertaken at the Christmas Gift prospect in the Everleigh Well area has exposed multiple spectacular gold bearing quartz veinlets within a narrow, sheared basalt-interflow sediment contact.
Christmas Gift is located within the Everleigh Well Target area that is central to the 14 Mile Well project.
The Christmas Gift prospect is located at one of the historical workings and where sampling by the company during 2023 confirmed the presence of the narrow high-grade quartz vein with abundant visible gold.
Recent exploration work to better expose the gold bearing lithological unit has resulted in the discovery of further spectacular narrow quartz veinlets containing visible gold, and that has greatly enhanced the understanding of controls on the gold bearing structure.
Iceni Gold managing director Wade Johnson said in the company’s ASX announcement.
“The shallow excavation and sampling activities at Christmas Gift exposing the rich gold bearing quartz veinlets within the shear zone is an exciting development for the company,” Iceni Gold managing director Wade Johnson said in the company’s ASX announcement.
“The additional fieldwork has improved our knowledge of the host structure, that has advanced our understanding to further explore the Christmas Gift structure, but also provides a geological model that we can apply elsewhere in the Everleigh Well area.
“The strike length of the structure is open; drill sites have been prepared and we are looking forward to commencing drilling shortly to evaluate the down dip extent of the structure and rapidly advance this priority target.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE