Iceni Gold (ASX:ICL) uncovers new basalt-hosted gold system at Guyer

Iceni Gold (ASX:ICL) has delivered its most compelling drilling results to date from the Guyer Trend within the company’s flagship 14 Mile Well Gold Project in Western Australia’s Laverton district.

The results point to a new style of gold mineralisation hosted in basalt, distinct from the granite-associated systems that have historically dominated the area.

Highlights

• 59-hole, 10,842-metre RC program completed at Guyer

• Standout intersection of 13m at 1.39 grams per tonne gold from 179m, including 3m at 5.03 g/t from 182m (hole GUYRC0083)

• Results confirm a +2,000m long bedrock gold anomaly beneath 40m of transported cover

• Mineralisation interpreted as structurally controlled within basalt, contrasting with the flat-lying styles near the Danjo Granite

• Work completed as part of $35m farm-in with Gold Road Resources, soon to transfer to Gold Fields following its takeover of Gold Road

• Follow-up AC, RC and diamond drilling program now being designed

New discovery potential

The Guyer Trend lies on the eastern margin of the Danjo Granite, a geological structure that has long attracted exploration interest across the Leonora-Laverton belt.

Previous drilling had confirmed anomalous gold associated with granite contacts, but hole GUYRC0083 has opened a new chapter by identifying robust mineralisation within basalt, a host rock that has received comparatively little attention.

This intersection, recorded at the end of a traverse line, correlates with anomalous results from earlier aircore drilling and suggests a new mineralised trend extending undercover to the east.

With RC holes drilled at 100m centres, Iceni sees considerable scope to test both lateral and vertical extensions, including more than 100m of potential oxide profile, with the results reinforcing the company’s view that Guyer hosts multiple mineralisation styles across a district-scale system.

Other intersections from the campaign included 5m at 1.14 g/t from 121m and 5m at 0.68 g/t from 133m, supporting the interpretation of a large-scale mineralised corridor that remains underexplored.

Strategic positioning

The discovery comes as Iceni advances exploration under a $35 million farm-in and joint venture with Gold Road Resources, which committed $5 million in initial expenditure.

With Gold Road set to be acquired by Gold Fields later this month, the global gold producer will become Iceni’s partner and a shareholder, adding weight to the project’s development prospects.

Iceni Gold notes that the new mineralised zone was located beneath 40m of transported cover, a factor that had obscured the surface geochemical footprint and may have discouraged historical exploration.

The company now plans to integrate forthcoming assay results from 41 additional RC holes at Guyer Main and the Minerie trend before advancing with targeted drilling on the basalt anomaly.

Iceni Gold Managing Director Wade Johnson described the result as transformational:

“The new gold intersection in hole GUYRC0083 is a fantastic result for Guyer and one that demonstrates a new style of gold mineralisation that supports our view of the significant scale of this system.”

Geological context

The 14 Mile Well Project, covering 850 square kilometres, sits within the Murrin Greenstone Belt, a prolific terrain hosting several million-ounce deposits including Granny Smith and Sunrise Dam.

Guyer is one of four key target areas prioritised following a 2024 review, and its geological setting along the granite-greenstone contact mirrors the structural framework of other major gold systems in the district.

Within the broader tenement package, Iceni has also identified additional trends such as Wild West and Guyer West, which may form part of a larger corridor yet to be fully tested.

These findings underscore the scale of opportunity across the project and highlight the underexplored nature of the ground, much of which lies beneath shallow cover.

The immediate priority for Iceni and its soon-to-be partner Gold Fields is to design and execute a follow-up program incorporating aircore, reverse circulation and diamond drilling to expand the mineralised footprint identified at Guyer South.

Multi-element assays, due later in October, are expected to provide further insight into the system and refine targeting.

With the farm-in expenditure commitments met and a major global gold miner entering the joint venture, the Guyer discovery positions Iceni to accelerate exploration in one of Australia’s most productive gold belts.

Investors will now look to the next phase of drilling to determine whether the basalt-hosted anomaly can deliver scale comparable to the district’s established deposits.

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.