New Gold Structures Identified at Everleigh Well

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

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Highlights

• An integrated geophysics campaign at Everleigh Well has identified previously unknown gold structures.
• The significance of these structures is that they correlate with:
  • Everleigh diamond drillhole FMDD0032, which previously revealed numerous anomalous gold intercepts along the entirety of its ~900m length (ASX releases 14 and 20 October 2022)
  • High grade rock chips and gold nuggets discovered at Everleigh (ASX release 22 March 2023)
  • UFF+ soil samples, specimen stones and historic workings

Ongoing exploration fieldwork has identified new outcrop on a structure named by Iceni as the Northern Reflector, on which concentrations of gold nuggets, historic workings and gold bearing rock chip samples have been discovered.

Fieldwork continues at the Everleigh Well area to further define target locations for follow up drilling.

Technical Director Dave Nixon commented:

“The Everleigh geophysical campaign and new geophysical interpretation consolidate our knowledge of the geology and increase our confidence on the controls on gold mineralisation in the Everleigh target area.

Most of the structures identified by geophysics are hidden beneath transported cover, however, field validation of what the geophysical model was indicating to us has located outcrop of one of these structures, known as the Northern Reflector.

At the location where the Northern Reflector outcrop was discovered, concentrations of gold nuggets, historic workings and gold bearing rock chip samples have also been found.

The Northern Reflector structure is interpreted to be intersected by hole FMDD0032, which is exciting because it supports the association of this structure with the Castlemaine Fault and gold mineralisation.

Similarly, the 200m long high-grade gold vein at Everleigh is associated with a modelled contact, so searching along this contact will have an increased probability of discovering extensions of the high-grade gold vein.

The seismic work directly detecting structures associated with gold mineralisation is a highly positive outcome.

Geological fieldwork is continuing at the Everleigh target area, gathering data to further validate the exploration model and to identify targets for follow-up exploration”.

Figure 1. Coincident outcrop of the Northern Reflector and combined gold anomalies along the trace of the Northern Reflector identified by the seismic survey at Everleigh. Combined gold data sets include UFF+ soils, rock chips, drilling, nugget finds and historical workings showing the distribution of gold.

Figure 2. At ~475m in FMDD0032 a structural zone was intersected that may correlate with the Northern Reflector. Numerous anomalous gold intercepts were reported over a broad interval in the footwall of this structure.

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