- Iceni Gold (ICL) identifies seven key priority target areas around the 14 Mile Well Project in Western Australia
- The presence of a syenite intrusion identified at the Deep Well target is encouraging, since syenite is a prerequisite for the formation of large gold deposits
- Both air core and diamond drilling was undertaken at Deep Well to follow up anomalous historical results, such as five metres at 3.32 grams per tonne (g/t) of gold
- Dr Walter Witt was engaged to carry out a geological study and he has alreay identified multiple types of intrusions at Deep Well
- Shares in Iceni are up 1.92 per cent on the market are are trading at 26.5 cents
Iceni Gold (ICL) has identified seven key priority target areas around the 14 Mile Well Project in Western Australia.
The company identified the presence of a syenite intrusion in the drill core at the Deep Well target. This is encouraging as syenite is a prerequisite in the formation of large gold deposits.
Both air core and diamond drilling was undertaken at Deep Well to follow up anomalous historical results, such as five metres at 3.32 grams per tonne (g/t) of gold.
Iceni has engaged Dr Walter Witt to carry out a geological study on the drill core from 14 Mile Well.
He has already identified multiple types of intrusions at Deep Well with hydrothermally altered syenite observed in the diamond core.
“The discovery of a syenite intrusion at the Deep Well target area is a significant positive event for Iceni Gold shareholders,” Executive Chairman Brian Rodan said.
“The first phase of the diamond drilling campaign at the Deep Well target along with the first phase of the air core drilling has been completed.
“The company is currently modelling the initial drilling information and looks forward to receiving all the results from the first phase drilling campaign and the second drilling campaign can then be designed and completed.”
Shares in Iceni were up 1.92 per cent on the market and were trading at 26.5 cents at 3:15 pm AEDT.