Iceni Gold Limited (ASX: ICL) has provided an update following managing director George Karageorge’s first site visit. The site visit was conducted by the new managing director along with the senior management team.
Advanced preparations for the company’s stage three reverse circulation (RC) drilling programme set to commence at priority gold targets in October of this year. George inspected previously identified Monument lithium anomalies while on the property.
“It was a great pleasure to work with the Iceni Team on site at 14 Mile Well over the past seven days. The onsite access and infrastructure are second to none in Western Australia and the highly focused team is currently preparing for the launch of the first 10,000m of RC drilling to get underway soon,” said George.
“I am very excited about the potential for a major gold, lithium, or nickel discovery at the 14 Mile Well project, given the highly experienced team and the quality of the exploration work to date.”
The company plans to launch the first part of the programme over the Guyer North, Breakaway Well and Everleigh Well targets. The successful capital raise completed by Iceni in September will fund the first pass of RC drilling to the end of the year and extending the programme into the new year with a further 10,000m of drilling following the initial assay results.
Drill pad construction and final negotiations with drilling contractors are currently underway. Field validation of the Goldilocks zones has also commenced, with mapping and sampling pegmatites over eight target areas.
Iceni recently conducted reconnaissance fieldwork across the Monument Granite Dome and identified two areas which have the potential to host lithium. These two anomalies were identified within the Monument Granite displaying a strong association with Li-Cs-Be-Rb anomalism.
Both targets were defined by anomalous multi-element UFF+ and rock chip assays. The two lithium anomalies identified in June 2023 are considered to fall within a Goldilocks Zone environment.
In modern lithium exploration a Goldilocks Zone is defined as a corridor with suitable rock types, geological structure and geochemistry in which lithium-bearing pegmatites are known to be prevalent. The exploration team is currently field validating potential lithium pegmatites within the goldilocks zones at 14 Mile Well.
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