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- Diamond drilling underway at Goose Well.
- Deep angled hole designed to improve understanding of intrusive complex.
- Also aims to test the interpreted north-south trending Gander Fault.
- Program expected to be completed in June, with assay results in July.
Iceni Gold (ASX:ICL) has started a diamond drill program at the high-priority Goose Well target at the company’s 14 Mile Well Gold Project in Western Australia. A 350-metre deep angled diamond drill hole is now underway to further assess the geological framework and controls on gold mineralisation.
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MD, Wade Johnson, said Goose Well is on the westernmost extent of the 14MWGP and is considered a priority target, based on geological character, historical gold workings, gold nuggets, and supporting geochemical results.
“The commencement of diamond drilling at Goose Well marks an important step in advancing our understanding of what is emerging as a significant intrusive-hosted gold system,” he told shareholders.
“While our primary objective is not necessarily to intersect economic mineralisation, it has been specifically designed to answer several key geological questions that will guide our ability to effectively target across the larger Goose Well intrusive complex.
“The diamond core will provide information that cannot be obtained through RC drilling alone, including detailed vein density analysis, structural architecture, alteration, multi-phase intrusive relationships and how these all relate to gold mineralisation.”
The hole is designed to test the interpreted Gander Fault and its splays, which Iceni believes play a critical role in controlling fluid flow and gold deposition within the system.
“This is a strategic investment in understanding the system, reducing exploration risk and positioning Iceni to effectively target new discoveries within the Goose Well intrusive complex,” Mr Johnson said. “The team is excited to be finally drilling this hole and looking forward to observing what it delivers.”
The target is centred on a multi-phase monzo-granite/quartz-syenite intrusion, called the Goose Well Intrusive Complex, which has contact metamorphosed surrounding rocks forming a magnetite reaction rim, clearly defined in aeromagnetic imagery.
The Goose Well tenements, acquired from prospectors in CY22 and then in CY24, were subject to an independent review that identified several key programs that defined gold anomalism and mineralisation.
ICL closed down -11.1%, to 2.4¢. Mkt cap $10.67M.
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