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- Gold explorers Iceni Gold (ICL) commences drilling at the North 1 target at its 14 Mile Well Project near Laverton in Western Australia
- Diamond drilling (DD) is now underway at Recon 1 within North 1 and is testing an inversion modelled bulls-eye magnetic body
- The first DD hole, FMDD0030, has been completed to a depth of 417.8 metres
- Iceni says the presence of sulphides and potassic alteration in the drill core is “very promising”
- ICL shares are down 4.35 per cent and trading at 11 cents per share at 1:57 pm AEST
Gold explorers Iceni Gold (ICL) have commenced drilling at the North 1 target at its 14 Mile Well Project near Laverton in Western Australia.
Diamond drilling (DD) is now underway at Recon 1 within North 1 and is testing an inversion modelled bulls-eye magnetic body.
The first DD hole, FMDD0030, has been completed to a depth of 417.8 metres. The geology in the hole was dominated by pillowed andesitic lavas.
“Sulphides observed in FMDD0030 were associated with zones of increased brecciation and veining,” the company said.
“The interpreted syenite or a synvolcanic massive sulphide deposit may be deeper in the section, beneath FMDD0030.”
Iceni said the presence of sulphides and potassic alteration in the drill ore is “very promising.”
Additional holes have been planned to test for the magnetic body beneath FMDD0030.
North 1 was previously identified by SGC who describe it as an “interpreted late (magnetic) intrusive proximal to a major structural intersection and a granite-greenstone contact.”
The magnetic bulls-eye anomaly at North 1 has been modelled using 3D magnetic inversion techniques to better define the drill target.
On Tuesday, the company identified deep well gold anomalies through its air core (AC) drilling within the 14 Mile Well project.
The company had received all assay results from its 132-hole AC drilling program at Deep Well totalling 6860 metres surrounding the initial DD program.
On the market, ICL shares were down 4.35 per cent and trading at 11 cents per share at 1:57 pm AEST.
