- Iceni Gold (ICL) discovers high-grade gold at its Everleigh target area in the WA Goldfields
- The company returned four rock chip samples far beyond bonanza-grade cut-offs, with the highest-grade rock chip reported today at 3880 g/t
- The next three highest results posted reflect 859 g/t, 475 g/t, and 98.3 g/t gold
- ICL Technical Director David Nixon says the rock chip assays could be linked to various mineralised outcrops, gold soil/nugget anomalies, and drill intercepts
- ICL shares are up 22.7 per cent, trading at 13.5 cents at 1:31 pm AEST
Iceni Gold (ICL) has reported the discovery of high-grade gold at its Everleigh project area in the WA Goldfields.
The company returned four rock chip samples far beyond bonanza-grade cut-offs, with the highest-grade rock chip reported today at 3880 grams per tonne (g/t) gold.
The next three highest results posted were 859 g/t, 475 g/t, and 98.3 g/t gold.
The company believes this is further evidence of a buried intrusion linked to the Everleigh embayment, a well-understood geological feature of the local area.
Adding to this is previously conducted soil anomaly geochemical data, as well as the discovery of over 800 gold nuggets on-site. A review of a historical assay sample from at least one drill hole also supports the geotechnical thesis.
“The exceptional high-grade rock chip assays returned from the Everleigh area are interpreted to link the various mineralised outcrops, gold soil/nugget anomalies, and drill intercepts together,” ICL Technical Director David Nixon said.
“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 company continues with fieldwork to evaluate its next drill positions within the buried intrusion.
ICL shares were up 22.7 per cent, trading at 13.5 cents at 1:31 pm AEST.