Iceni Gold Limited (ASX:ICL) has announced a significant exploration update on its Everleigh target area. The Everleigh Well target area is located within the 14 Mile Well Project, on the Castlemaine Fault, which has been a significant focus area for the occurrence of hydrothermal activity and mineralization.
“The exceptional high-grade rock chip assays returned from the Everleigh area are interpreted to link the various mineralized outcrops, gold soil/nugget anomalies, and drill intercepts together,” commented technical director, David Nixon.
“These new assays, in addition to previous results and the geological model, indicate that the Everleigh target area is potentially related to a larger buried intrusion. The Everleigh target area continues to deliver very positive results and remains a high-priority focus for Iceni in the search for a significant high-grade orogenic gold discovery at 14 Mile Well.”
Highlights included exceptional high-grade rock chip assays of 3,880g/t Au, 859g/t Au, 475g/t Au, 98.3g/t Au, 22.5g/t Au, 20.1g/t Au, and 12.6g/t Au. These results follow the high-grade quartz vein discovered at Everleigh’s Christmas Gift target, where assays included: 18,207g/t Au, 18,179g/t Au, 16,776g/t Au, 16,659g/t Au, and 14,780g/t Au.
At Everleigh a number of targets are coincident and were developed using different exploration techniques, including FMD21 (geophysics), EW27 (geophysics), CSA04 (geology), and 14UF009 (geochemistry).
The assays expand the high-grade gold discoveries made across the greater Everleigh Well target area where recent analysis of soil anomalies, rock chips, and over 800 gold nuggets indicate the potential for a large, buried intrusion linked to the Everleigh Embayment (CSA04).
A review of historical RAB assays and results from diamond drillhole FMDD0032 also supports the geological model that suggests significant gold anomalism may represent gold leakage emanating from a deeper buried intrusion. Fieldwork continues to evaluate drill positions in the context of a buried intrusion within an orogenic model.
For further information, please visit: www.icenigold.com.au
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