- Iceni Gold (ICL) strikes a high-grade gold vein at the Everleigh target area within its 14 Mile Well gold project in Western Australia
- The company has discovered quartz reef veining that returned high-grade gold results in rock chip samples
- Iceni says this is a “significant” result due to the specimen stone being “coarse and angular”, indicating it has not been transported far from its source
- Further sampling has now been planned across the Everleigh zone, where targets are being defined for follow-up work
- Iceni Gold shares are down 1.11 per cent to 8.9 cents at 12:58 pm AEDT
Iceni Gold (ICL) has struck a high-grade gold vein at the Everleigh target area within its 14 Mile Well gold project in Western Australia.
The company discovered quartz reef veining that returned high-grade gold results in rock chip samples.
Iceni said this was a “significant” result due to the specimen stone being “coarse and angular”, indicating it had not been transported far from its source.
The company’s search of the area also uncovered outcropping rock similar to the host material within the specimen stone.
“The high-grade gold in quartz veining and the gold-bearing specimen stone discovered at Everleigh are strong indicators for the presence of reef gold mineralisation,” Iceni Technical Director Dave Nixon said.
“The 200-metre long gold-bearing quartz vein is in-situ, and the specimen stone with visible gold is very close to source, indicating that these locations have an increased probability for the discovery of quartz reef gold mineralisation.
“The combined data for the gold nuggets, specimen stone, gold in drilling and rock chip geochemistry forms a compelling focus for Iceni within the Everleigh target area.”
Further sampling has now been planned across the Everleigh zone, where targets are being defined for follow-up work.
Iceni Gold shares were down 1.11 per cent to 8.9 cents at 12:58 pm AEDT.