Iceni Gold Limited

Iceni Hits Spectacular High- Grade Vein At Everleigh

Iceni Gold Limited (ASX: ICL) (Iceni or the Company) is pleased to provide a further exploration update on the Everleigh Well Target Area.


Highlights

  • A number of very high-grade rock chip assay results have returned from the outcropping gold bearing vein in the Christmas Gift UFF+ anomaly 14UF010B at Everleigh Well, these include:
    • 18,207g/t Au 18,179g/t Au 16,776g/t Au 16,659g/t Au 14,780g/t Au
  • The high-grade vein is located within a cluster of gold prospectivity indicators and is hosted by altered sediments with boxworks after sulphides.
  • Fieldwork is ongoing to track the extent of this vein along strike.
  • The Everleigh target area will be prepared for future exploration drilling.
Technical Director David Nixon commented:

“Assay results from the discovery of the second outcropping quartz vein with visible gold in the Everleigh target

area are exciting, as they back up the initial field observations that reported visible gold in outcrop.

The high-grade rock chip results from the vein are supported by the underlying UFF+ soil anomaly, prospectivity indicators (including gold nuggets, workings and anomalous geochemical assays) and the multiple coincident targets generated by existing exploration work.

The Everleigh Well target area continues to deliver in-situ gold bearing rock chips and significant numbers of various sized gold nuggets, where a number of key targets will be prepared for future exploration drilling”.

Figure 1 Specimen from EV-4 with gold from outcropping quartz veining at Everleigh.

Christmas Gift

A second high-grade vein has been discovered at Everleigh within the 14UF010B target. The quartz vein was outcropping and contained abundant visible gold associated with boxworks after sulphides. The vein is associated with a cluster of historic workings and scrapings. Gold assays from this high-grade vein are summarised in Table 1, the peak assay returned 18,207g/t Au.

Prospecting activity has also recovered gold nuggets across the Everleigh Well target area. The nuggets found near the vein are angular and show little or no signs of transport. The presence of significant numbers of gold nuggets at surface supports the UFF+, rock chip and drilling results within these prospects.

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).

Fieldwork is ongoing tracking this second high-grade vein along strike in preparation for future exploration drilling.


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
The Conversation (0)
Aurum Resources

Takeover Offer for Mako Gold Limited – Share Offer Unconditional and Status of Offers Conditions

Aurum Resources Limited (ASX: AUE) (Aurum) refers to its off-market takeover offer to acquire all of the ordinary shares (Share Offer) and certain options (Option Offers) in Mako Gold Limited (ASX:MKG) (Mako) pursuant to its bidder’s statement dated 30 October 2024 (as supplemented or replaced from time to time) (Bidder’s Statement).

Keep reading...Show less
Rows of gold bars.

Top 10 Gold Reserves by Country

Gold is one of the most important metals on the planet. For millennia it has been used in jewelry, art and currency, capturing the collective imagination as a thing of wonder. Gold's association with royalty and wealth has inspired explorers and treasure hunters alike, who put themselves at risk for a chance to strike it rich.

Today, gold's hold on us as a precious metal is no less powerful. Still used for jewelry and as a store of wealth, the metal also has a variety of modern industrial and electronic applications.

Even though gold seems to be everywhere, in reality it's a finite resource. Only 244,000 metric tons of gold have ever been mined, and two-thirds of that has been extracted since 1950. Comparing that amount to the more than 700 million metric tons of copper that have been pulled from the ground provides an idea of how precious a resource gold truly is.

Keep reading...Show less
Physical gold bar and gold Maple Leaf coin with small gold nuggets on top.

A Guide to Investing in Physical Gold (Updated 2024)

Gold is known as an attractive safe-haven investment and has been used to store wealth during volatile times through history.

It has interesting currency-like tendencies, and retains its purchasing power better than paper currencies.

For that reason, gold market analysts typically recommend that investors build a diversified portfolio with a portion of their wealth in gold bullion. Here the Investing News Network explains what's involved in building and managing a physical gold portfolio.

Keep reading...Show less
Providence Insider Participates in Financing

Providence Insider Participates in Financing

Providence Gold Mines Inc. (“the Company) is pleased to announce further to the Private placement announced on November 14, 2024 that an insider of the Company is participating in the first tranche of the private placement in the amount of $75,000 Cdn for 1,500,000 units at $0.05 per unit. Each unit comprises of one common share and one non-transferable warrant exercisable into one common share of the Company at a price of $0.09 for a period of two years from the date of closing. The funds will be used for general purposes.

As announced, a placement of up to $1,800,000 Cdn for 36,000,000 units at $0.05 per unit is now underway. Each unit will comprise of one common share and one non-transferable warrant, exercisable into one common share of the Company at a price of $0.09 for a period of two years from the date of closing.

Keep reading...Show less
Tempest Minerals

TEM | Yalgoo Update - Further Excellent Iron Results

Tempest Minerals Limited (ASX: TEM) is pleased to update that recent RC drilling at the Remorse Target has identified the presence of thick, high-grade, magnetite-hosted iron in initial assays which has now been confirmed with multiple drill holes over several kilometres of strike length. The Remorse Target is situated within the Company’s 100% owned Yalgoo Project which has multiple world-class iron ore operations nearby.

Keep reading...Show less

Latest Press Releases

Related News

×