RC Drilling Delivers High-Grade Gold Intersection at Guyer

Iceni Gold Limited (ASX: ICL) (Iceni or the Company) is pleased to report the latest RC 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

 
• Final assay results have now been received for the remaining 15 holes of the maiden 31 RC drillhole campaign completed on two 1,500m spaced drill sections that evaluated the broad 3,500m long bedrock gold anomaly at Guyer.
• The 15 holes, all from drill Section 2, intersected gold mineralisation that includes a significant high-grade intersection of 7m @ 4.05g/t Au from 148m, including 1m @ 26.9g/t Au from 149m in GUYRC0028, the best gold intercept from Guyer to date.
• Every drillhole on the 1,000m wide Section 2 intersected gold mineralisation within an altered granodiorite host rock with additional results that include:
  • 16m @ 0.50 g/t Au from 53m in GUYRC0028 Incl. 1m @ 3.99 g/t Au from 64m
  • 11m @ 0.36 g/t Au from 197m in GUYRC0029 Incl. 1m @ 2.34g/t from 202m
  • 6m @ 0.80 g/t Au from 108 in GUYRC0023 Incl. 1m @2.06 g/t Au from113m
  • 11m 0.35 g/t Au from 64m in GUYRC0020 Incl. 1m @ 1.66 g/t Au from 107m
• The new results, combined with Section 1, further confirm and expand upon the broad +1,000m wide aircore anomaly, with multiple intervals of gold mineralisation now defined within the granodiorite host.
• The Guyer Trend is part of the $35 million exploration Farm-In and Joint Venture (JV) agreement signed on 18 December 2024 with Gold Road Resources Limited (ASX: GOR).
• A 2,300m campaign of diamond drilling, designed to confirm structural orientations and vectors toward high-grade zones within the granodiorite hosted gold envelope at Guyer, is underway.
• 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:

“The high-grade gold intersection in hole GUYRC0028 is a fantastic result and demonstrates that the Guyer system can host stronger zones of gold mineralisation. This is the best intercept we have had to date at Guyer, and we continue to advance our knowledge of the system with each successive drill program. The RC drillholes on the two initial drill traverses 1,500m apart have outlined an extensive mineralised and altered corridor within the granodiorite host rock that has provided the foundation for the 2,300m diamond drilling program that is underway.

“The recent drill results support those on Section 1, and combined, have outlined broad zones of alteration and associated gold mineralisation over the full width of the +1,000m evaluated on each drill traverse. This demonstrates Guyer has the hallmarks of a significant gold system in the 14 Mile Well Gold Project. The Company and Gold Road are looking forward to the results from the diamond drilling program that is underway and will provide the key structural information to integrate the RC and AC results into a geological framework to optimise drilling on targets along the entire 3,500m long bedrock gold anomaly”.

The board of Iceni Gold Limited (ASX: ICL) (“Iceni” or “the Company”) is pleased to announce the results from the remaining 15 holes of the initial 31-hole RC drilling program at Guyer within its flagship 14 Mile Well Gold Project (“14MWGP” or “Project”) located midway between the gold mining towns of Leonora and Laverton. The Project (Figure 1) adjoins the recently recommenced Laverton Gold Operation, which contains the Jupiter and Westralia gold deposits owned by Genesis Minerals Limited (ASX: GMD).

The Guyer Trend is the primary focus of the $35 million farm-in agreement (Farm-in) entered into with Gold Road Resources Limited (Gold Road or GOR – ASX GOR) on 18 December 2024 in respect of 154km² of tenements (Farm-In Area), that form part (Figure 5) of the Company’s 100%-owned 14 Mile Well Gold Project (ICL ASX release 18 December 2024).

The Guyer Trend (“Guyer”) is located in the southeastern part of the 14MWGP. It was one of four key target areas identified from a targeting review in May 2024 that recognised priority areas to focus exploration on during CY2024 for a gold discovery (Figure 1). The trend lies over a northerly striking belt of mafic greenstone sequences, bounded by the Danjo Granite to the west and to the east by mafic to intermediate volcanic rocks (Figure 2).

Four aircore (AC) drilling programs during 2024 revealed a broad, coherent bedrock gold anomaly along the granite-greenstone contact (Figure 3) at Guyer North, now spanning up to 1,100m in width and extending over 6kms in length (ICL ASX releases 12 November 2024 and 23 January 2025).

The final aircore campaign consisting of infill drilling completed in November 2024 identified three parallel >0.5g/t Au 1,500m long bedrock trends (Figure 3) within the larger 6km >0.1g/t Au anomaly (ICL ASX release 23 January 2025). These three anomalies are hidden beneath up to 35m of transported overburden, masking any surface expression.

Guyer is a new gold system outlined on the eastern margin of the large Danjo granodiorite that is a dominant geological feature in the 14MWGP (Figure 1). Significantly, gold mineralisation has been outlined along or near the contact of the Danjo, to the south of Guyer at Pennyweight Point, and along the southwest contact at the historical Yundamindera mining centre (Figures 1 & 2). More recently, outside of the Guyer Trend program, which is being undertaken in conjunction with GOR, the Company has recommenced focussing exploration on another of its prospects at Everleigh-Tatong on the western margin of the Danjo (ICL ASX release 29 April 2025).

At Yundamindera, numerous gold prospects occur along a 16km northwest trend, now termed the Yellow Brick Road1 (refer ASX:ARI announcement 8 April 2025) by holder Arika Resources Limited (ASX: ARI). Arika have recently reported strong gold mineralisation within a strongly hematite altered and deformed quartz monzodiorite at the Landed at Last prospect, where structures are interpreted to crosscut the dominant northwest trend defined by the historical workings.

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