Iceni Gold (ASX:ICL) defines new gold intercepts at Goose Well within 14 Mile Well Project

Iceni Gold has reported results from a first pass Reverse Circulation drilling program at the Goose Well prospect within its 14 Mile Well Gold Project, located between Leonora and Laverton in Western Australia.

The program tested two target areas within the Goose Well Intrusive Complex.

Highlights

• Completed 19 hole RC drill program for ~2,150m across Main and North targets
• Returned 10m @ 0.96 g/t Au from 37m including 1m @ 7.53 g/t Au
• Intersected 14m @ 0.60 g/t Au from 226m including 2m @ 2.30 g/t Au
• Reported 8m @ 0.62 g/t Au from 63m including 3m @ 1.38 g/t Au
• Identified 32m @ 0.44 g/t Au from 6m including 1m @ 3.78 g/t Au
• Mineralisation hosted within monzogranite and syenite intrusions
• Results validate gold mineralisation identified in historical RC drilling within the Goose Well Intrusive Complex
• Diamond drilling planned for ~350m with drilling scheduled to commence in May

The Reverse Circulation drilling program comprised 19 holes for a total of ~2,150m and tested two priority areas referred to as the Main and North targets.

The program was designed to validate and expand upon historical gold intercepts at both targets, with drilling completed at a similar orientation to previous programs.

The Company interprets that gold mineralisation occurs as discrete high grade quartz veins within a broader low grade stockwork system developed within monzogranite and syenite intrusions.

At the Main Target, drilling was completed on a 40m by 40m grid, testing approximately 160m of strike and 120m down dip extent, with geological logging identifying a multiphase monzogranite and syenite intrusive package and several intersected lamprophyres.

The Company interprets that mineralisation at this target is spatially associated with a north south trending structure referred to as the Gander Fault, identified in regional aeromagnetic data and supported by >15ppb Au soil anomalies and mapped quartz veins.

At the North Target, four RC holes tested a historical target associated with a north northwest trending mineralised shear zone. Drilling intersected monzogranitic intrusive rocks crosscut by sheared lamprophyres.

The Company interprets that mineralisation is influenced by a broader north south structural trend.

Based on the assay results and updated geological interpretation, the Company considers the drill orientation suboptimal, with drilling interpreted to have intersected mineralised veins at oblique angles.

The Company also notes that 1m compositing in RC sampling may have resulted in dilution of narrow high grade intervals within broader zones.

Iceni Managing Director Wade Johnson said,

“We are very pleased with the results from the maiden drill program at Goose Well and excited about the greater opportunity along the Gander Fault that this has generated.”

Two diamond drill holes for ~350m are planned to confirm continuity of mineralised structures, characterise mineralogy and structural orientation, and define the relationship between intrusive phases, lamprophyres and the interpreted Gander Fault, with drilling scheduled to commence in May.

The Goose Well prospect is located within the Company’s 14 Mile Well Gold Project, which comprises a contiguous tenement package of approximately 722km² in Western Australia.

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