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

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.

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

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