- Iceni Gold (ICL) shares are soaring after striking a “spectacular” high-grade vein at its Everleigh target area in Western Australia
- The company reported multiple very high-grade rock chip assays from the outcropping gold-bearing vein in the Christmas Gift anomaly
- The peak assay recorded was 18,207 g/t gold
- Iceni says fieldwork is ongoing to track the extent of its newly uncovered vein along strike, and in preparation for future exploration drilling
- Shares in ICL are up 42.2 per cent and trading at 9.1 cents at 10:50 am AEST
Iceni Gold (ICL) shares were soaring after announcing it hit a “spectacular” high-grade vein at its Everleigh target area in Western Australia.
The company reported a number of “very high-grade” rock chip assays were returned from the outcropping gold-bearing vein in the Christmas Gift anomaly.
Iceni reported the high-grade vein was found amid a cluster of gold prospectivity indicators, and was hosted by altered sediments with boxworks after sulphides.
The peak assay from rock chip results returned was 18,207 grams per tonne (g/t) gold, while other results included 18,179 g/t gold, 16,776 g/t gold, 16,659 g/t gold and 14,780 g/t gold.
ICL Technical Director David Nixon said the results were exciting, backing up initial field observations which reported visible gold in outcrop.
“The Everleigh Well target area continues to deliver in-situ gold-bearing rock chips and significant numbers of various-sized gold nuggets, where a number of key targets will be prepared for future exploration drilling,” he said.
The company announced fieldwork was continuing to determine the extent of this vein along strike and in preparation for future exploration drilling.
Shares in ICL were up 54.7 per cent and trading at 9.9 cents at 10:33 am AEST.