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Iceni Gold Limited (ASX: ICL)(Iceni or the Company) is pleased to provide an exploration update on the commencement of drilling at highly prospective targets within the 14 Mile Well Project.
Highlights
- An RC drilling contractor has been engaged and is mobilising to site, with drilling activities to commence this week.
- Access and drill pads have been established on site for the commencement of drilling.
- Initial targets planned to be tested include:
- The Breakaway Well gold anomaly.
- Monument lithium anomaly.
- The Monument North shear zone hosted gold anomaly.
- Intrusion related gold anomaly at Claypan.
GM Exploration David Nixon commented:
“Preparations have been underway in recent weeks for the upcoming RC drilling program and include heritage surveys, establishing site access and drill pads. The drilling rig will mobilise to site this week and commence the drilling program, testing targets in the Claypan, Breakaway and Monument target areas. The geological team are excited to commence drilling and test the anomalous targets”.
Figure 1 Iceni field crew pegging proposed drillholes in preparation for drilling (ASX release 24 October 2023).
14 Mile Well Project
Iceni Gold Limited is a Perth based exploration company that operates the 14 Mile Well Gold Project in the Laverton Greenstone Belt. The ~900km2 14 Mile Well tenement package is situated on the western shores of Lake Carey, ~50km from Laverton in Western Australia. Iceni is searching for the three styles of gold mineralisation that are known to exist within the Laverton-Leonora District, as well as nickel and lithium:
- Intrusion Related Gold (IRG)
- Strong association between gold and syenite intrusions within the Laverton-Leonora District.
- Analogous to the Wallaby, Jupiter and Cameron Well gold deposits.
- Orogenic Lode Gold
- Related to deep tapping structures and their associated second/third order splays.
- Significant gold deposits in the district include Granny Smith, Sunrise Dam and Mt Morgans.
- Volcanogenic Massive Sulphides (VMS)
- Related to geothermal vents on the ancient sea floor.
- Favourable geological environment, with VMS deposits known in the district, for example Teutonic Bore, Anaconda and Jaguar.
- Nickel
- Related to ultramafic volcanics and intrusions.
- Three significant nickel projects are within a 50km radius, being Murrin Murrin, Kilkenny/Eucalyptus and Windarra.
- Lithium
- Related to pegmatites and felsic intrusions into mafic-ultramafic sequences.
- Pegmatites intruding mafic-ultramafic sequences have been mapped by the GSWA in the district.
Figure 2 Location of Iceni’s 14 Mile Well project within the highly gold endowed Laverton-Leonora District (ASX release 8 August 2023).
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.
ICL:AU
41m at 2.01g/t Au from Surface at Murchison South Gold Project
HIGHLIGHTS
- RC drilling from the first two (2) holes at the Murchison South gold project has intersected high grade gold, providing initial validation of historical drilling results
- Significant assay results include (down hole widths):
- 25PFRC001 (Hole 1)
41m @ 2.01 g/t from surface; including 15m @ 2.01 g/t from 2m, and
5m @ 10.01 g/t from 36m
- 25PFRC002 (Hole 2)
22m @ 0.70 g/t from 33m; including 10m @ 1.05 g/t from 33m, and
1m @1.61 g/t from 45m
- 25PFRC001 (Hole 1)
- A total of fourteen holes were drilled for 1463m at an average depth of 104m, at the Blue Heaven deposit
- Results from the first two drill holes align with the interim mineralisation analysis completed by Mining Plus, with the holes having intercepted the main rock types and showing a well- defined weathering profile
- Assays from the remaining 12 holes are due next week
Commenting on the results CEO Jeremy Bower said:
“These fantastic initial results give us a great start towards validation of the historic drilling and resource model at our Blue Heaven deposit. We have hit some high-grade shallow gold intervals, which align with the model, which is very encouraging, and we now eagerly await assays from the remaining 12 holes so we can get a complete understanding of our project.”
Figure 1: Murchison South Gold Project showing the Blue Heaven deposit with current and historic drilling.
The drill program comprised 14 RC holes for a total of 1463m at an average depth of 104m and collection of 1588 samples for assay. This announcement relates to the first two (2) drill holes only (Refer to JORC Table 1 Appendix A for full results and collar table from holes 25PFRC001 & 25PFRC002).
Figure 2: Cross Section.
The weathering zone is not intercepted in this cross-section but appears further south from Section 3 (Figure 1). Cross-Section 1 (Figure 2) displays multiple high-grade zones that broadly align with the existing model. Low-grade zones (yellow) envelop the high-grade mineralisation and correlate well with the new drilling.
Once all the drilling results have been received, Mining Plus will have sufficient data to interrogate the results before integrating them into their model. This will guide the next steps in optimizing pit designs at the Blue Heaven deposit and additionally will help determine the number and locations of planned diamond drill holes, which will be the source of sample material for the required metallurgical testing and geotechnical analysis.
Key Next Steps
- Receipt of remaining assay results
- Mining plus continue their independent mining review
- Metallurgical test work
- Negotiations with mining contractors and processors
Click here for the full ASX Release
This article includes content from Reach Resources, 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.
