Iceni Gold Advances Understanding at Flagship Guyer Project

Iceni Gold Advances Understanding of Complex Mineralisation System at Flagship Guyer Project

Iceni Gold Limited (ASX: ICL) has delivered encouraging follow-up drilling results at its Guyer project within the flagship 14 Mile Well Gold Project, significantly advancing the geological understanding of what appears to be a complex, multi-style mineralised system. The December 2025 diamond drilling programme has refined targeting approaches while confirming the continuity of mineralised structures across the 11.5km granite-greenstone contact.

The two-hole, 591-metre diamond drilling campaign has provided crucial geological insights that will enhance future targeting effectiveness at this high-priority project. Furthermore, this strategic location sits between the established gold mining centres of Leonora and Laverton in Western Australia, offering significant infrastructure advantages.

New Diamond Drilling Confirms Structural Continuity at Guyer Main

The follow-up diamond drilling at Guyer Main (GUYDD0009) has successfully demonstrated structural continuity with the significant intercept from hole GUYDD0006, which previously returned 3.65m @ 7.46 g/t Au from 151.6m, including a spectacular 0.5m @ 50.2 g/t Au.

Key Results from GUYDD0009:

• 8.59m @ 0.47 g/t Au from 207.94m
• Including 0.24m @ 2.55 g/t Au from 208.31m
• Multiple stacked quartz-filled shear zones within granite host
• Confirmation of sericite-carbonate altered shear zones with associated quartz veining

The drilling intersected multiple stacked narrow shear zones that show clear continuity with those intercepted in the high-grade hole GUYDD0006. However, while the mineralised structures in GUYDD0009 are narrower and locally discontinuous, they demonstrate the presence of a broader structural corridor within the Danjo Granite.

Managing Director Wade Johnson commented: "At Guyer Main, drilling shows that shear hosted mineralisation style is consistent with hole GUYDD0006, although the mineralised structures observed in GUYDD0009 are narrower and locally discontinuous. These structures may represent narrow splays off a deeper, more continuous mineralised structure."

Geological Model Refined at Guyer South Through Advanced Understanding

Perhaps more significantly, the diamond drilling at Guyer South (GUYDD0010) has materially improved the company's understanding of mineralisation controls in this area. In addition, the hole revealed multiple zones of shearing with strong chlorite-sericite alteration, consistent with a mineralised hydrothermal system.

Critical Geological Discoveries:

• Multi-element geochemical analysis confirmed the presence of the Welcome Well Formation
• Previous interpretations of "porphyry contact within basalt" were revised to show continuous basaltic to andesitic volcaniclastic succession
• Gold mineralisation confirmed as primarily structurally controlled
• Target structure from GUYRC0083 (which returned 13m @ 1.39 g/t Au) remains untested

The geological learnings from GUYDD0010 represent a fundamental advancement in understanding the broader project area. Consequently, Johnson noted: "These results indicate that gold mineralisation at Guyer South is primarily structurally controlled, with mineralisation hosted within narrow, steeply oriented structural zones."

Understanding Structural Controls: What This Means for Investors

Structural control in gold mineralisation refers to how geological structures like faults, shears, and fractures act as conduits for gold-bearing fluids. For instance, when these fluids encounter the right conditions such as changes in rock type, pressure, or temperature, gold precipitation occurs.

At Guyer, the identification of structurally controlled mineralisation is highly significant because:

• It provides a systematic targeting approach for future drilling
• Structural corridors often contain multiple mineralised zones
• The stacked shear system suggests potential for substantial continuity at depth

Furthermore, this understanding enables more precise and cost-effective exploration programmes. The company can now vector directly into the most prospective structural positions rather than conducting broad-based exploration.

Strategic Value Enhanced by Major Partnership Framework

The Guyer results gain additional significance within the context of Iceni's $35 million farm-in agreement with Gold Fields Australia covering 154km² of tenements. This partnership, announced in December 2024, makes Gold Fields the second largest shareholder in Iceni Gold.

The partnership provides substantial financial backing for systematic exploration of the Guyer Trend. Additionally, it brings world-class technical expertise to bear on this emerging gold system.

Forward Strategy: Multiple High-Priority Targets Identified

The company has outlined a comprehensive forward strategy based on these latest geological insights. Iceni Gold advances Guyer project understanding through systematic analysis of all available data.

Immediate Priorities:

1. Detailed structural review of all diamond core within the interpreted structural corridor
2. Follow-up drilling planned to test the targeted structure at Guyer South
3. Assessment of shear density zones and structural convergence at depth
4. RC drilling to effectively test geological interpretation before returning to diamond drilling

Target Development:

• Guyer Main: Focus on deeper, more continuous mineralised structures
• Guyer South: Direct targeting of the untested high-grade structure from GUYRC0083
• Structural Corridor: Systematic evaluation across the 11.5km contact zone

Why Investors Should Track Iceni Gold's Development

The latest drilling results position Iceni Gold as an emerging player in the highly prospective Leonora-Laverton district. However, there are several compelling reasons for investor attention beyond these initial results.

1. Large-Scale Land Position

• ~850km² contiguous tenement package
• One of the largest landholders in the gold-endowed Leonora-Laverton district
• Strategic location within 75km of multiple high-capacity operating gold mills

2. Proven Mineralised System

• 11.5km granite-greenstone contact with confirmed gold anomalism
• Multiple mineralisation styles indicating a major hydrothermal system
• High-grade intercepts already achieved: 50.2 g/t Au and 7.46 g/t Au

3. World-Class Partnership

• Gold Fields backing provides financial strength and technical expertise
• $35 million farm-in ensures adequately funded exploration programmes
• Strategic alignment with major gold producer validates project potential

4. Systematic Exploration Approach

• Advanced geological understanding enabling precision targeting
• Multiple target areas across the broader 14 Mile Well project
• Proximity to infrastructure reduces development risks

The combination of large-scale land holdings, proven mineralisation, major partnership backing, and systematic exploration progress positions Iceni Gold as a compelling opportunity in the Western Australian gold sector.

Consequently, with multiple high-priority targets across the 14 Mile Well project and adequate funding through the Gold Fields partnership, the company is well-positioned to deliver continued exploration success throughout 2026.

Key Takeaway:

Iceni Gold has transformed its understanding of the Guyer mineralised system whilst confirming the presence of multiple exploration targets across an 11.5km strike length. With Gold Fields partnership providing both funding and expertise, the company is positioned to systematically unlock the potential of one of the largest tenement holdings in the prolific Leonora-Laverton gold district.

Want to Explore Iceni Gold's Investment Potential Further?

With systematic drilling programmes advancing across the 11.5km Guyer Trend and Gold Fields providing $35 million in farm-in funding, Iceni Gold is methodically unlocking the potential of one of the largest tenement packages in the Leonora-Laverton gold district. The company's refined geological understanding and multiple high-priority targets position ICL for continued exploration success throughout 2026. Discover more about Iceni Gold's strategic projects, partnership advantages, and upcoming exploration programmes at www.icenigold.com.au.