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Iceni Gold Limited (ASX: ICL) (Iceni or the Company) is pleased to provide a further exploration update on the Everleigh target area.
Highlights
- Recent fieldwork confirms high-grade vein at Everleigh Well.
- Historic workings were identified along strike and were opened to allow visual inspection of mineralisation.
- Sampling of historic workings has identified potential strike and dip of mineralised system.
- Preliminary multi-element assays have indicated the geochemical signature of mineralisation, including:
16,900g/t Au* 2,500g/t Ag 426g/t Cu 5.8g/t Hg 20g/t W 5ppb Pt 114ppb Pd - The geochemical signature of the high-grade vein correlates with the 14UF010 anomaly.
- Fieldwork along the 14UF010 soil anomaly is planned to track the high-grade vein beneath cover.
- A drill campaign for the targets at Everleigh Well is being designed.
Technical Director David Nixon commented:
“Ongoing fieldwork and sampling confirms the presence of mineralisation within the Christmas Gift soil anomaly.
Multi-element assays from the high-grade outcropping quartz vein with visible gold in the Everleigh target area show a clear geochemical signature for this mineralisation, including Au, Ag, Cu, Hg, W, (Pt) and Pd.
The geochemistry includes anomalous platinum and palladium results, which are key components within the signature of the 14UF010 soil anomaly.
Fieldwork continues to focus along the length of the soil anomaly in the search for further outcropping veining along strike.
The Everleigh Well target area continues to deliver positive results, within which a number of key targets will be prepared for exploration drilling”.
* Average of the Duplicate assays previously reported in ASX release dated 8 June 2023.
Christmas Gift 14UF010
The Christmas Gift target at Everleigh Well is a multi-element UFF anomaly (14UF010B), coincident with targets E1 (geological), EW01 (geophysical) and SY43 (syenite target).
Ongoing fieldwork has confirmed the presence of the outcropping high-grade vein with abundant visible gold at Christmas Gift.
The preliminary multi-element geochemistry results from the high-grade vein reveal a geochemical signature, including Au, Ag, Cu, Hg, W, (Pt) and Pd. Gold assays from this high-grade vein returned a peak value of 18,207g/t Au (ICL announcement 8 June 2023, with the average of the duplicate assays being 16,900g/t Au.
The geochemical signature is significant because it correlates with the overlying UF14010 soil anomaly. It is interpreted that the soil anomaly is highlighting geochemical leakage from the underlying mineralisation.
Historic workings were identified along strike and were opened to allow visual inspection of the mineralisation. Veining was measured to strike between 320° to 340°, which is consistent with the trend of the overlying soil anomaly 14UF010.
Existing UFF soil anomalies are being assessed against gold prospectivity indicators to prioritise drill targets.
Figure 1 Inspecting location of the discovery outcrop.
Click here for the full ASX Release
This article includes content from Iceni Gold, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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