Iceni (ASX:ICL) gains on Christmas Gift discovery in Eastern Goldfields

Iceni (ASX:ICL) gains on Christmas Gift discovery in Eastern Goldfields

May 8, 2024 Off By Jack Baker

Iceni Gold more than doubled its share price and is now in a halt after additional fieldwork over the Christmas Gift shear expanded the prospect with a vein gold discovery at its 14 Mile Well project halfway between Leonora and Laverton in Western Australia.

Work exposed multiple additional gold-bearing quartz veinlets to add to outcropping veinlets which have returned multiple rock chip assays over 14,000 grams a tonne gold, with some as high as 18,207g/t.

The exposed structure now has about 20 metres of open strike length, presenting a priority drill target and a focus for the greater area.

Iceni Gold believes it has exposed the true nature and width of the shear zone and confirmed its prospectivity ahead of a well-advanced diamond drilling campaign to check its down-dip position in the June quarter of 2024.

And gold collected from a crushed bulk sample has provided an early taste in the form of a nine-and-a-half ounce gold doré bar.

Iceni appointed Managing Director Wade Johnson to the helm with a proven expertise in the gold endowment of WA, with the new leader saying the company’s shallow excavation and sampling activities had yielded an exciting development.

“The additional fieldwork has improved our knowledge of the host structure, (and) that has advanced our understanding to further explore the Christmas Gift structure, but also provides a geological model that we can apply elsewhere in the Everleigh Well area,” Johnson said.

“The strike length of the structure is open, drill sites have been prepared and we are looking forward to commencing drilling shortly to evaluate the down-dip extent of the structure and rapidly advance this priority target.”

The 14 Mile Well project covers some 600 square kilometres of the Eastern Goldfields and is comprised of seven target areas well served by the long-standing infrastructure of historic mining centres.

Icenci added 134 per cent to its share price before calling a halt in the trade of its securities as it prepares to share more news with investors.

ICL 13 Mile

Iceni Gold provided an image of a 9.5oz gold doré bar poured by prospectors from 101.3kg of Christmas Gift ore.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified. 

MO and CI logo redraw Socials Profile reversed

MarketOpen is an online media business connecting companies and investors. Through its flagship media channel the Australian publisher’s experienced journalists cover breaking news and analysis on mining, oil and gas, technology and biotechnology companies listed on the Australian Securities Exchange and other markets. MarketOpen’s video and podcasting channels feature original interviews with Australia’s small-cap corporate leaders, while its Stock Soirée networking events, Watchlist webinars, and online events connect investors and brokers with CEOs and board members. The publisher also offers a suite of agency services to its corporate members, including media, video, podcasting and social media services, along with writing, editing, reviewing and content creation services.

Contact info

Suite 3, 47 Havelock Street
West Perth WA 6005

Stewart Walters
Managing Director
+61 414 644 166

Amanda Ellis
+61 438 003 868

Important links

Follow us