- Iceni Gold (ICL) flags “positive” aircore drilling results from the Guyer North target within its 14 Mile Well project near Laverton in Western Australia
- The company says assays from the aircore drilling highlighted a cluster of gold-anomalous holes correlating with the eastern contact of the Danjo Granite in the area
- The results are supported by recently-completed ultrafine soil sampling work and a newly-discovered gold nugget trend in the area
- ICL Technical Director David Nixon says the aircore drilling reinforces the potential of the Guyer Fault and the associated granite-greenstone contact in the area
- Iceni shares are down 11.54 per cent to 11.5 cents just before market close
Junior explorer Iceni Gold (ICL) has flagged “positive” aircore drilling results from the Guyer North target within its 14 Mile Well project near Laverton in Western Australia.
The company said assays from the aircore drilling highlighted a cluster of gold-anomalous holes that correlated with the eastern contact of the Danjo Granite in the area.
According to Iceni, several gold deposits in the Leonora-Laverton region are known to be associated with granite-greenstone contacts, including the 2.5-million-ounce Granny Smith mine and the six-million-ounce King of the Hills mine.
Iceni Technical Director David Nixon said the aircore results were supported by recently-completed ultrafine (UFF+) soil sampling work and a newly-discovered gold nugget trend in the area.
“These positive drilling results reinforce the potential of the entire 15-kilometre-long Guyer Fault and the associated 11-kilometre-long granite-greenstone contact of the Danjo Batholith at Guyer,” Mr Nixon said.
Iceni said its UFF+ sampling work had identified a number of gold and multi-element anomalies, dividing the Guyer target into the North Guyer, Central Guyer and South Guyer prospects
Meanwhile, metal detecting along the Guyer Shear discovered over 500 gold nuggets in the surface alluvium, corresponding in distribution with the North Guyer UFF+ anomaly.
“The significance of the discovery of such a large number of gold nuggets to date in the near-surface cover that includes palaeochannels suggests there could be potential for palaeochannel-hosted gold deposits similar to other palaeochannel deposits in the Eastern Goldfields,” Mr Nixon said.
“These deposits have been mined at Sunrise Dam, Kalgoorlie, Mt Pleasant, Kanowna, St Ives, Higginsville, and Norseman.”
Iceni shares were down 11.54 per cent to 11.5 cents just before market close.