Iceni Gold (ASX:ICL) shares higher on gold anomaly find

• Iceni Gold (ICL) shares have enjoyed a lift after announcing the discovery of a five-kilometre gold anomaly at the 14 Mile Well Project in Western Australia
• The find is a result of Iceni’s Ultra Fine Fraction soil programme, which is looking to pick up new potential exploration targets
• The anomaly was found within the project’s Monument target area and bears a “strong gold-tungsten-tellurium-molybdenum geochemical association”
• Iceni Gold shares are up 6.38 per cent to trade at 25 cents

Iceni Gold (ICL) shares have enjoyed a lift after the company announced the discovery of a five-kilometre gold anomaly at the 14 Mile Well Project in Western Australia.

The explorer said the new high priority gold exploration target was identified with the project’s Monument target area — situated roughly 50 kilometres from Laverton — where Iceni is undertaking exploration activities.

According to ICL’s analysis, the anomaly bears a strong gold-tungsten-tellurium-molybdenum geochemical association with a 5.5-kilometre long strike length and a one-kilometre width.

The anomaly was identified as a result of ICL’s Ultra Fine Fraction soil program, which entails a “physical step to retain the fine microparticles and a chemical step to test for the presence of gold and other elements”.

ICL affirms the programme will allow the company to generate new exploration targets.

The company has split the anomaly into five zones, the first of which includes coherent gold and multi-element anomalism with the second a narrow coherent gold and multi-element anomalism.

Zones three, four and five are generally gold only anomalies, according to Iceni.

Iceni Gold shares were up 6.38 per cent at 3:40 pm AEST to trade at 25 cents.