High-Grade Gold Discovery Strengthens Iceni's 14 Mile Well Project
Iceni Gold Limited (ASX: ICL) has announced exceptional high-grade gold intersections from its maiden diamond drilling program at the Guyer prospect, significantly advancing the company's flagship 14 Mile Well Gold Project located between Leonora and Laverton in Western Australia.
Diamond Drilling Delivers Outstanding Results
The recent 6-hole diamond drilling campaign targeting the coherent 6km-long bedrock gold anomaly within the Guyer Trend has delivered multiple high-grade gold intersections, confirming the growing scale of the mineral system. The program successfully intersected significant high-grade gold discovery by Iceni mineralisation in four of the six holes across a 2,000m strike length.
Standout results include:
- 3.65m @ 7.46 g/t Au from 151.6m in GUYDD0006, including 0.5m @ 50.2 g/t Au
- 6.52m @ 2.63 g/t Au from 297.2m in GUYDD0001, including 1.32m @ 6.59 g/t Au
- 1.88m @ 1.09 g/t Au from 303.92m in GUYDD0003, including 0.2m @ 9.86 g/t Au
- 5.24m @ 0.54 g/t Au from 469.76m in GUYDD0004, including 0.2m @ 7.44 g/t Au
These results represent some of the highest-grade intercepts achieved at the project to date and have significantly enhanced the company's understanding of the mineralising system at Guyer.
"These are exceptional gold intersections from our first diamond drilling campaign evaluating deeper into the large Guyer bedrock gold anomaly and come less than 12 months after discovery of the anomaly. The recent high-grade results, combined with the structural data from the drill core, builds upon results from our earlier AC and RC drilling to provide an improved control on the style and geometry of the mineralisation," said Iceni Managing Director, Wade Johnson.
Strategic Farm-In Agreement with Gold Road Resources
The Guyer Trend is the primary focus of the $35 million Farm-In exploration agreement signed with Gold Road Resources Limited (ASX: GOR) in December 2024. A major follow-up RC drilling program is scheduled to commence in late July as part of the initial $5 million minimum expenditure commitment by Gold Road under the agreement.
This partnership validates the potential of the gold discovery by Iceni Gold Ltd and provides significant funding to accelerate exploration activities. The recent diamond drilling results have further reinforced Gold Road's confidence in the project's prospectivity.
Understanding the Guyer Gold System
The drilling has identified a broad zone (+500m wide) of multiple shallow north-east dipping shears within the granite host over at least 1,500m of strike length. This structural setting is similar to several major gold discovery at Hurricane sites in the Leonora-Laverton area, including Wallaby, Jupiter, Sunrise Dam, and King of the Hills, where gold mineralisation is related to shallow dipping structures.
The diamond drilling has provided crucial structural data that will guide future exploration by establishing the primary controls on gold mineralisation in the project area. This improved understanding will help target zones of economic mineralisation in upcoming drilling programs.
Understanding Shallow-Dipping Shear Structures
Gold mineralisation in the Leonora-Laverton region is commonly associated with shallow or flat-dipping structures. These structures form when regional compressional forces create zones of weakness in host rocks that allow for fluid migration and gold deposition.
At Guyer, the diamond drilling has revealed a system of multiple shallow-dipping shear zones within granite that host significant gold mineralisation. These structures likely formed during regional deformation events and provided pathways for gold-bearing fluids to migrate and precipitate gold.
The identification of these shallow-dipping structures is particularly significant because similar structural settings host major high-grade gold intercepts in the region, including Wallaby, Jupiter, Sunrise Dam, and King of the Hills. Understanding the geometry and orientation of these structures is crucial for targeting higher-grade zones of mineralisation in future drilling programs.
Strategic Position in a Prolific Gold District
The 14 Mile Well Gold Project is strategically located in the heart of the Leonora-Laverton district, one of Australia's most prolific gold regions. The project adjoins the recently recommenced Laverton Gold Operation, which contains the Jupiter and Westralia gold deposits owned by Genesis Minerals Limited.
The Guyer Trend is part of a broader northwest-trending shear zone corridor that extends from the granite-greenstone contact east to include Guyer Ridge and Guyer East. Historical gold workings along strike to the south, such as 'Pennyweight', which produced nearly 4,200 oz of gold from just five tonnes of ore between 1897 and 1908, further underscore the area's prospectivity.
The gold discovery by Iceni Gold Ltd is particularly notable because it was hidden beneath transported cover, which explains why the area was overlooked by previous explorers despite its proximity to major gold operations.
Future Exploration Plans
Building on these encouraging results, Iceni and Gold Road Resources have finalised planning for a major second campaign of reverse circulation (RC) drilling to follow up on the success from the recent diamond and aircore drill programs. This RC drill campaign is scheduled to commence in late July and will evaluate:
- The broad zone of multiple shallow-dipping, northwest-trending shears hosted within the granite
- Initial testing of newly generated gold anomalies outlined by recent aircore drilling
The Program of Works has been approved, with preparation of drill sites already underway. This upcoming program represents the next phase in advancing the gold discovery by Iceni Gold Ltd at the Guyer prospect.
Why Investors Should Follow Iceni Gold
Iceni Gold presents a compelling investment opportunity based on several key factors:
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Strategic Location: The 14 Mile Well project is positioned in one of Australia's premier gold districts between Leonora and Laverton, near multiple high-tonnage capacity operating gold mills.
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Strong Partnership: The $35 million farm-in agreement with Gold Road Resources provides significant funding for exploration and validates the project's potential.
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Growing Scale: The diamond drilling results confirm the presence of a large, potentially significant gold system with multiple high-grade zones across a substantial strike length.
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Hidden Potential: The Guyer system is hidden beneath transported cover, meaning it was overlooked by previous explorers and represents a genuine new discovery.
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Systematic Exploration: The company is employing a methodical approach to exploration, building a robust geological model through progressive drilling campaigns.
With an active exploration program underway and backed by a major gold producer, Iceni is well-positioned to further define and expand the Guyer gold system in the coming months, potentially creating significant value for shareholders as they continue to advance this important gold discovery at Lunnon and Lachlan Star's Killaloe project.
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