Gold Nugget Discovery at Claypan Confirms Exploration Potential

Iceni and SensOre (ASX: S3N) have entered an Exploration Targeting Collaboration Initiative.

Highlights

• Recent exploration fieldwork within the Claypan target area has recovered a ~2 oz gold nugget on surface. This large nugget was located in between two previous Iceni drill lines spaced ~1km apart.
• Previous soil assays at Claypan identified a large 2km long x 500m wide gold-multielement soil anomaly and rock chip assays had identified gold anomalism in quartz veining, strong alteration, and chert/BIF outcrop.
• The gold nugget at Claypan is the single largest gold nugget discovery at 14 Mile Well since the IPO and anecdotal evidence exists for other large gold nuggets discovered in the Claypan target area.
• Iceni has entered into an exploration targeting collaboration initiative with SensOre (ASX: S3N), which will focus on deploying SensOre’s Big Data, Artificial Intelligence and Machine Learning technologies, together with its geoscience expertise across Iceni’s 14 Mile Well project, particularly at the Everleigh, Guyer and Claypan target areas.
• SensOre estimates that the gold exploration potential for new discoveries in the area remains one of the highest in Western Australia.
• In-fill drilling at Claypan will be conducted after drill programs are completed at Everleigh and Guyer.

Technical Director David Nixon commented:

“This year Iceni has conducted extensive and detailed fieldwork over the Company’s most advanced target areas.

This work has resulted in the prioritisation of Guyer Well and Everleigh Well as being the Company’s key prospects for exploration success in the next round of drilling.

Recent fieldwork has also been directed over the Claypan target area due to its attractive large alteration halo and significant gold soil anomaly. This fieldwork has led to the discovery of a large ~2 oz gold nugget located in between two Iceni drill lines spaced ~1km apart. This discovery has provided additional support for the Company to conduct in-fill drilling between the existing drill lines. The Claypan in-fill drilling will be completed after further drill testing has been conducted at the Everleigh, Guyer and Breakaway Well targets.

Iceni believes the Artificial Intelligence/Machine Learning targeting collaboration with SensOre will add significantly to the potential for success of the ongoing exploration campaign being undertaken at 14 Mile Well.”

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