The Conversation (0)
Iceni Gold Limited (ASX: ICL) (Iceni or the Company) is pleased to provide an exploration update on the Everleigh Target Area.
Highlights
- Quartz reef veining has been discovered that is returning high grade gold results in rock chip samples.
- Gold in specimen stone has been found very close to source.
- Gold nuggets discovered across the Everleigh target area.
- Fieldwork remains focused in the Everleigh and Guyer target areas, defining targets for follow up.
Technical Director Dave Nixon commented:
“The high-grade gold in quartz veining and the gold bearing specimen stone discovered at Everleigh are strong indicators for the presence of reef gold mineralisation”.
“The 200m long gold bearing quartz vein is in-situ and the specimen stone with visible gold is very close to source, indicating that these locations have an increased probability for the discovery of quartz reef gold mineralisation”.
“The gold in the Everleigh specimen EV-1 is now confirmed to have a lower gold fineness that is more characteristic of an epizonal style of gold mineralisation more akin to the deposits of the Golden Mile in Kalgoorlie”.
“The combined data for the gold nuggets, specimen stone, gold in drilling and rock chip geochemistry forms a compelling focus for Iceni within the Everleigh target area”.
“Geological fieldwork is continuing at the Everleigh and Guyer target areas to define drill targets for follow-up exploration work.”
Specimen Stone from Everleigh Well
Figure 1. Specimen stone with visible gold found in the Everleigh Well Target area.
Figure 2. Integrated gold data sets from rocks, drilling, nugget finds and historical workings showing the distribution of gold across the Everleigh target area.
Gold in specimen stone has been recovered from the Everleigh target area. This is a significant result because the specimen stone is coarse and angular indicating it has not been transported far from source. Searching in the general area of the finds has located outcropping rock that is similar to the host material within the specimen stone. Further sampling is planned in this area.
Specimen stone EV-1 was previously found near diamond drillholes FMDD0032 and FMDD0034. The specimen was analysed to identify any characteristics that can assist the search for mineralisation.
Analysis by Orexplore involved the x-ray imaging of EV-1 to identify the internal distribution of gold within the specimen. The analysis identified two types of gold. The first type has a fine disseminated texture throughout the quartz. The second type is confined to the outer surface and along penetrative fractures through the specimen.
Analysis by Portable Spectral Services involved surface scanning of the specimen to identify the composition of the gold. The first type of gold has a low gold-silver ratio that is consistent with the known early epizonal styles of mineralisation within the Yilgarn. The second type of gold has a high gold-silver ratio, which is consistent with expected supergene modification of existing gold.
Click here for the full ASX Release
This article includes content from Icenic 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.
High grade Massive Sulphide Intercepts Confirmed at Oval
HIGHLIGHTS:
- OVD027 confirms the continution of high grade massive sulphide from OVD0211 with an intercept of 6.1 metres of 4.16% Cu, 3.51% Ni, 0.G3g/t E3, and 0.13% Co from G8.2 metres encountered between broader high grade zones of:
- A dense disseminated intercept - 26.2 metres of 0.44% Cu, 0.52% Ni, 0.12g/t E3, and 0.03% Co from 72.0 metres and
- A net textured intercept - 15.3 metres of 1.15% Cu, 0.79% Ni, 0.35g/t E3, and 0.04% Co from 104.3 metres;
- A high grade broad intersection is confirmed at the central part of the Oval area by OVD026. It includes a massive sulphide intercept in hole OVD026 of 1.8 metres of 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co from 105.0 metres within broader mineralisation of:
- 19.8 metres of 1.23% Cu, 0.98% Ni, 0.36g/t E3, and 0.05% Co from 91.2 metres.
OVD026 is located 100 metres northwest of the previously announced 8.8 metres of massive sulphide identified in drillhole OVD021.
On completion of the Phase 2 exploration work and receipt of all assays, Managing Director Gan-Ochir Zunduisuren, commented:“The 2024 Phase 1 and 2 drilling and exploration programs have confirmed the broad presence of high-grade mineralisation in the Oval gabbroic intrusion. The grades intercepted in some of the drillholes are exceptional and may be indicative of broader potential over a larger area, given Oval is a greenfields discovery.
The 2025 exploration program will focus on obtaining information on the size/metal content potential of the Oval Cu-Ni-PGE mineral system as well as targeting the possible deeper magmatic sources at Oval. Broader exploration is also planned at potential extensions of Oval and nearby look-a-like prospects. We look forward to updating shareholders on progress, with drilling expected to commence in around 8 weeks”.
Summary of Phase 2 exploration drilling at Oval Cu-Ni-PGE project
The Company’s recent drilling work has predominantly focused on finding high-grade mineralisation in the olivine-amphibole gabbro at the Oval project. The multiple intercepts of massive sulphide mineralisation with different ratios of metal contents throughout the Oval gabbroic intrusion is highly encouraging for the presence of one or more deeper sources of high grade mineralisation in the opinion of ABM.
Figure 1. Plan view of drillhole locations on high resolution magnetics map (RTP)
Drillhole OVD02c
Drillhole OVD026 was designed to test the Down-Hole Electromagnetic (DHEM) conductor plate identified as OVD007_L2_B (reinterpretation of OVD007_L2_A2 by Southern Geoscience Consultants), which exhibits a conductance of 1,000 siemens. The drilling intersected a total of 1G.8 metres of mineralisation with 1.23% Cu, 0.G8% Ni, 0.36g/t E3, and 0.05% Co from G1.2 metres including;
- 4.8 metres of @ 0.45% Cu, 0.43% of Ni, 0.14g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 91.2 metres,
- 6.6 metres of @ 1.56% Cu, 0.G0% Ni, 0.50g/t E3, and 0.04% Co of net textured mineralisation from G6.0 metres,
- 2.4 metres of @ 1.52% Cu, 1.3G% Ni, 0.43g/t E3, and 0.07% Co of semi massive sulphide mineralisation from 102.6 metres,
- 1.8 metres of @ 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co of massive sulphide mineralisation from 105.0 metres, and
- 4.2 metres of @ 0.57% Cu, 0.45% of Ni, 0.21g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 106.9 metres (Table 1 provides a detailed breakdown of mineralisation intervals).
OVD026 is located in the Oval area, which is approximately 100 metres northwest of the previous intersection identified in drillhole OVD0213. This intercept may represent an extension of the known massive sulphide mineralisation in the Oval area and highlights the potential for further expansion of massive sulphide zones within the broader prospect area (Figures 1 and 3).
Click here for the full ASX Release
This article includes content from Asian Battery Metals PLC, 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.
