Iceni Gold (ASX:ICL) intersects anomalous copper in deep Welcome Creek drillhole

Iceni Gold has delivered one of the deepest exploration holes drilled in the Officer Basin, reporting anomalous copper, zinc and lead from portable XRF screening of a 1,475.5m diamond hole at its Welcome Creek copper gold project in Western Australia, an outcome that adds a new geological dimension to the company’s basin scale exploration strategy.

Highlights

• Diamond hole WCD001/1B completed to 1,475.5m at Welcome Creek, approximately 260kms east of Newman.
• Portable XRF point data identified anomalous Cu, Zn and Pb within the sedimentary sequence.
• Notable copper values include 0.18% Cu at 719m, 0.26% Cu at 942.99m and 0.14% Cu at 996.99m.
• Elevated copper associated with minor visible sulphides and chlorite hematite altered mudstones.
• Hole targeted a coincident gravity magnetic anomaly measuring approximately 5kms by 3kms.
• Basement was not intersected and the modelled geophysical source target remains unexplained.
• Selective core sampling for laboratory multi element assay is now underway.

The deep hole forms part of Iceni’s effort to test a large gravity magnetic anomaly interpreted as a potential IOCG style target beneath thick basin sediments.

Drilling encountered oxidised and reduced mudstones with evaporite bearing units, interpreted as part of the Waters Formation of the Tarcunyah Group, before being terminated due to technical drilling issues within a halite breccia zone.

Systematic portable XRF scanning at 0.5m intervals identified sporadic copper enrichment accompanied by elevated zinc and lead, including a strongest copper response of 0.26% at 942.99m, with the company noting these are indicative screening results only and subject to validation through laboratory assays.

Managing Director Wade Johnson said completion of the hole marked a significant technical milestone for the company:

“Completion of WCD001 at ~1,450m marks a significant technical achievement for Iceni and has delivered one of the deepest holes drilled in the Officer Basin. While we were unable to reach the planned targeted depth due to the challenging ground conditions within a salt breccia unit, the hole has provided important geological information.”

Importantly, Iceni confirmed that while anomalous copper was intersected within the sedimentary package, the primary geophysical source target remains untested due to downhole deviation, which displaced the drill trajectory approximately 300m west of plan.

The company considers the anomalous copper and locally elevated zinc and lead may reflect basinal hydrothermal fluid interaction or leakage from a deeper source.

From a geological perspective, the intersected stratigraphy exhibits redox variability, reactive host rocks and thick evaporite units capable of acting as sealing horizons.

Regional magnetic interpretation highlights major fault systems passing through the Welcome Creek anomaly, features commonly associated with large mineral systems.

Iceni also reports that the basin architecture is considered highly amenable to seismic imaging, which could help refine depth to basement and structural geometry.

The immediate priority is selective core sampling of anomalous intervals for laboratory multi element assay to validate and better define copper and base metal tenor, alongside early discussions with seismic imaging providers to assess the potential design and costing of a targeted survey, with petrophysical data from the drill core to assist in evaluating basin architecture and depth to basement.

Welcome Creek sits within the Northwest Officer Basin and Paterson Orogen, with the project comprising 2 exploration licences covering 403.50km2, and the drilling program supported by up to $150,000 in co funding under the Western Australian Government’s Exploration Incentive Scheme.

While laboratory assays are pending, the results provide Iceni with valuable geological intelligence across a previously untested depth profile.

The presence of anomalous copper within the basin sequence, combined with an unresolved geophysical target at depth, now sets the framework for the next phase of exploration as the company works to integrate geochemistry, structural logging and geophysics to refine future drill targeting within this underexplored region.

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