The Conversation (0)
April 14, 2025
Iceni Gold Limited (ASX: ICL) (Iceni or the Company) is pleased to provide an update on first drill results from the Guyer Prospect, which is subject to a Farm-in Agreement with Gold Road Resources (ASX:GOR). Guyer is within the Company’s flagship 14 Mile Well Gold Project, located between Leonora and Laverton.
Highlights
- An initial early-stage campaign of 31 RC holes for 6420m on two 1500m spaced drill sections each evaluating +1000m across the aircore bedrock gold anomaly at Guyer is now complete.
- Results for the first 15 RC holes on drill section 1 have been received, with every drill hole on the first section intersecting gold mineralisation within an altered granodiorite with results including:
- 10m @ 0.67 g/t Au from 115m in GUYRC0003 Incl. 2m @1.89 g/t Au from 121m
- 15m @ 0.47 g/t Au from 189m in GUYRC0005 Incl. 1m @ 1.22g/t from 201m
- 10m @ 0.55 g/t Au from 76m in GUYRC0009 Incl. 1m @1.56 g/t Au from 83m
- 13m @ 0.52 g/t Au from 78m in GUYRC0013 Incl. 5m @ 1.16 g/t Au from 79m
- The results confirm and expand upon the broad +1000m wide aircore anomaly, with multiple intervals of gold mineralisation now defined within the primary zone of the granodiorite host.
- The geology and alteration observed in drill section 2 is consistent with that seen in section 1 located 1500m to the north and these sections when combined with the aircore results demonstrate and support a large area of mineralised and altered granodiorite, with its limits and geometry yet to be defined.
- The Guyer Trend is part of the $35million exploration Farm-In and Joint Venture (JV) agreement signed on 18 December 2024 with Gold Road Resources Limited (ASX: GOR).
- A 3500m campaign of diamond drilling, designed to confirm structural orientations and vectors toward high-grade zones within the large granodiorite hosted gold envelope at Guyer is scheduled to commence in April.
- The ongoing exploration program is managed by Iceni and is part of the initial $5 million minimum expenditure commitment by GOR under the Farm-In agreement.
Commenting on the drill program, Iceni Managing Director Wade Johnson said:
“We are very pleased with the results from the initial RC drillholes at Guyer, that have supported and expanded the system beyond the bedrock gold anomaly defined by the wide spaced aircore drilling. The wide spaced RC drillholes on the two 1.5km spaced drill traverses have outlined an extensive mineralised and altered corridor within the granodiorite host rock that has provided the foundation to bring forward a diamond drilling program.
The drilling has outlined broad zones of alteration and associated gold mineralisation over the full width of the +1000m evaluated on each drill traverse and this initial RC drilling demonstrates Guyer has the hallmarks of significant gold system in the 14 Mile Well project. The Company and Gold Road are looking forward to the diamond drilling program that will commence shortly and provide the information to integrate the RC and AC results into a structural framework to advance the model to accelerate drilling on focused targets”.
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.
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