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Iceni Gold Limited (ASX: ICL)(Iceni or the Company) is pleased to provide an exploration update on further work conducted on the 14 Mile Well Gold Project.
Highlights
- Further fieldwork at the Christmas Gift prospect in the priority Everleigh Well target area has extended the host shear structure, as well as returning additional gold bearing quartz veinlets and high-grade gold rock chip results.
- Additional high-grade rock chip assay results returned from the newly exposed sample trenches include:
- 158.00g/t Au, 93.50g/t Au and 43.20g/t Au
- These results continue on from previously announced ultra high-grade rock chip assay results, including;
- 18,207g/t Au, 18,179g/t Au, 16,776g/t Au, 16,659g/t Au, 14,780g/t Au
- Multiple shallow surface excavations along the trend have now exposed and extended the shear structure over an approximately 50m strike length that is open.
- Diamond Drilling contractors are in the process of being secured and a further announcement will be made soon in relation to mobilisation.
Figure 1 Gold* bearing quartz specimen vein sample collected from the sample trench over the Christmas Gift shear*Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations.
Commenting on the sampling results, Managing Director Wade Johnson said:
“The recent field activities and assay results at our Christmas Gift prospect provide further support to the prospectivity of this new high-grade discovery within our large 14 Mile Well Project. We are excited by the further high-grade rock chip results and shallow surface activities that now demonstrates a strike length of at least 50m to the structure that is open. The geological characteristics of the Christmas Gift structure does provide key information and a target style to explore the greater Everleigh area for additional gold mineralisation and further develop the geological model in this area. A diamond drill rig is in the process of being secured, the drill sites prepared, and we are poised to commence our maiden drill program at Christmas Gift.”
Christmas Gift Prospect
Christmas Gift is located within the priority Everleigh Well Target area (“Everleigh”), that is central to the 14 Mile Well Project. The Everleigh area forms part of the historic Redcastle gold mining centre, renowned for its prolific gold nugget finds, which was discovered in 1894. Everleigh also contains a number of historical prospecting pits, shafts and shallow workings in additional numerous alluvial gold workings distributed over a wide area. The largest historical workings in this Everleigh area are the Castlemaine Gold workings location to the south of the Christmas Gift (see Figure 5). Alluvial gold nuggets continue to be found in the area.
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 veinlets with abundant visible gold (ASX release 8 June 2023).
Further exploration work by the Company consisted of extending the original sample pit previously exposed (ASX release 8 June 2024) and excavation of five shallow sample pits (costeans) along strike to expose the Christmas Gift shear beneath the shallow (0.5m) cover. This work has demonstrated the shear now extends to approximately 50m along strike and is open. In addition, the shear structure maintains a consistent 1m true width which trends approximately northwest and dips 55 degrees to the northeast (Figure 4).
The original trench (ASX release 8 May 2024) was also extended to the south, toward and adjacent to the historical shaft. This work further exposed the gold bearing lithological unit (shear) and exposed additional spectacular narrow quartz veinlets containing visible gold (Figure 1 & Table 1) that has provided additional important geological information to the characteristics of the gold bearing structure. The Christmas Gift shear is interpreted to be a sheared interflow sediment -basalt contact bounded by massive basalt.
The combination of the previous and recent work by the Company has now confirmed the Christmas Gift shear has a strike length of at least 50m, is open, maintains a width of approximately 1m and has further enhanced the prospectivity of the target.
Results from multiple rock chip samples (Appendix 1) collected from the sample pits to test the different lithologies, including the quartz veinlets within the main Christmas Gift shear zone and the surrounding massive basalt host, support the high-grade character of the structure. Significant high-grade gold results (Table 1) include 158g/t Au and 93.5g/t Au returned from rock samples (including quartz veining collected from the shear).
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
AI Defines 18 New Gold Targets at Music Well
SensOre consultants have applied artificial intelligence (AI), machine learning (ML) and other processing techniques using both public and proprietary datasets over the Music Well Project.
- Cutting edge AI/ML algorithms targeting areas with minimal outcrop or under cover.
- Integration of geological, geochemical and geophysical data sets into the AI process to define digital mineralisation fingerprints and generate AI-enhanced gold discovery predictions.
- The AI SensOre study concluded that “Application of ML algorithms were found to model +1m oz Au potential with a high degree of predictability, and a total of 18 targets were identified within the Music Well project”:
- Target 1 has the highest priority and is in the central north of the project with a strike length of 8km.
- Target 1 trends NNW parallel to the general geological fabric as well as being intersected by several WNW trending cross structures.
- Target 2 is located 4km east of the Wonder Deeps mine of Northern Star and is adjacent to a parallel WNW trending structure hosting Vault Minerals Great Western mine.
- Target 2 is 1.4km in strike and 800m wide.
- No historic drilling has been recorded at any of the target areas, highlighting the underexplored nature of the Music Well project.
- Next Steps
- Geological mapping and sampling over these new targets are scheduled for the next two weeks to gain further insight into the new targets.
- Results from the January rock chip sampling program are expected shortly.
Andrew Ford, GM Exploration
“The work by SensOre has focussed our attention from areas of outcrop, toward regional targets which are obscured in many cases by thin cover and sheetwash. By applying groundbreaking technologies such as artificial intelligence has enabled the rapid prioritization of multiple targets. The definition of targets reflecting a specific geophysical and geochemical response which also focuses on key mineralised structural trends provides encouragement as to the robust nature of the targeting process”.
Figure1: Regional Tenement Packages and Gold Projects
Background:
Augustus Minerals Limited( ASX: AUG) holds the exploration licenses and applications comprising the Music Well Gold Project (“Project”) located 35km north of Leonora in the Leonora/Laverton Greenstone Belt of Western Australia.
Music Well comprises ten exploration licences covering an area of 1,345km2, making the Project one of the largest exploration packages in the region (Figures 1 and 2).
The outstanding gold endowment of the Leonora-Laverton District of >28M ounces3 is illustrated by the numerous operating gold mines including the Darlot Gold Mine (~12km to the north), the King of the Hills Mine (~20km to the west), the Leonora Gold Camp (~30km to the southwest), and the Thunderbox Gold Mine (~20km to the west).
AI Enhanced Gold Exploration
The Company commenced a gold targeting exercise with SensOre_X Pty Ltd (SensOre) in November 2024, using their Artificial Intelligence (AI) and Machine Learning (ML) technologies to allow predictive analytics to generate targets for discovery of gold systems at the Music Well project.
SensOre is an industry leading technology services provider of AI/ML applications to the minerals exploration and mining industry. SensOre’s technologies have been developed over many years and involve the application of new computer assisted statistical approaches and ML techniques across the mineral cycle to provide the next generation of exploration discoveries. SensOre aims to become the top global minerals targeting company through deployment of big data, AI/ML technologies and geoscience expertise.
The Company committed to this new technological approach to gold exploration at Music Well to reinforce the existing generative exploration undertaken by the Company and deliver new “out of the box” targets for gold mineralisation over the project area, which has minimal historic exploration and limited outcrop.
In addition, the Company has inherited a large and impressive database of geological, geochemical, and geophysical information since acquiring Music Well Gold Mines Pty Ltd in late 2024. Having a variety of good quality datasets is considered a key attribute for the application of the AI/ML technology to accelerate the discovery process. The data layers used in the AI/ML processing include results from 2,478 Ultra fine fraction soil samples, 18,042 soil samples and 155 rock chip samples, in addition to detailed aeromagnetic and gravity data.
The Music Well project is contained within an area of influence (AOI) where a “data cube” was constructed covering the four 100k scale regional map sheets containing 80m x 80m cells. This data cube contains 1,440,000 cells x 1,618 variables where the AI/ML technology was applied.
Figure 2: SensOre geophysical predictions identifying multiple intrusion types and an area of probable mafic/ultramafic rocks in the SE of the project
The application of the machine learning approach applied by SensOre to the database of geochemical, geological and geophysical information compiled over the Company’s AOI has demonstrated the highly gold prospective nature of the Music Well project. Application of the machine learning algorithms modelled the probability of gold systems within the AOI and more specifically the Music Well project. This required 107 variables for discrimination that were applied to the 80m by 80m cells within the AOI.
Click here for the full ASX Release
This article includes content from Augustus Minerals, 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.
