Gold Nugget Discovery at Claypan Confirms Exploration Potential

Iceni Gold Limited (ASX: ICL) (Iceni or the Company) is pleased to provide a significant exploration update on the Claypan target area at 14 Mile Well.

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.

“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.”

SensOre Joint Collaboration

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

The initiative will focus on deploying SensOre’s Artificial Intelligence (AI) and Machine Learning (ML) based technologies over Iceni Gold’s 14 Mile Well project, particularly the highly prospective Everleigh Well, Guyer Well and Claypan target areas.

The collaboration will involve SensOre analysing Iceni’s geophysical surveys, 60,000m of drilling data and 23,000 surface samples from soil and rock chips across the entire 14 Mile Well project along with all the known historical data from the Laverton-Leonora district.

Once processed by SensOre’s algorithms the data will be integrated into SensOre’s data platform, currently containing more than 64 billion data points.

SensOre has been active in the Eastern Goldfields since 2020 and SensOre estimates that the exploration potential of the area for new gold discoveries remains one of the highest in Western Australia.

SensOre aims to become the top performing global minerals targeting company through deployment of big data, artificial intelligence/machine learning technologies and geoscience expertise.

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.