- Iceni Gold (ICL) discovers the largest gold nugget to date at its 14 Mile Well project in Western Australia
- The nugget is roughly two ounces and its discovery follows recent geochemical testing that found evidence of a large area prospective for gold
- The company has previously stumbled upon lithium and nickel targets on-site, giving the project polymetallic potential
- Drills remain plugging away at the Everleigh and Guyer targets with rigs to return to Claypan, where the nugget was found, for infill drilling
- Shares are up 9.09 per cent, trading at 12 cents at 10:44 am AEST
Iceni Gold (ICL) geotechs have found a gold nugget on the surface at its 14 Mile Well project in Western Australia – weighing approximately two ounces.
The Claypan target is where the nugget was found, an area within the project boundaries of increasing interest to Iceni. That’s on top of the nickel and lithium leads the company has also discovered on-site.
The nugget was stumbled upon as geotechs went over the last drillholes sunk at Claypan in a line with hits spaced 1 kilometre apart. The nugget reflects the largest nugget discovery at the 14 Mile Well area since Iceni launched its IPO.
Its discovery follows a two-kilometre by 500-metre wide soil anomaly prospective for gold discovered recently in soil assays where geotechs also noted quartz veining was present on-site, often coincident with gold mineralisation.
Alongside AI-powered automated exploration software developer SensOre (S3N), Iceni will continue to plug away at 14 Mile Well, using SensOre tech to help assist through massive amounts of data – that company’s specialty.
The company is confident that the chance of finding gold at 14 Mile Well remains superior to that of many competitor projects.
Currently, drill rigs are plugging away at its separate high-grade Everleigh and Guyer targets.
Once those drills wind up and cool down, in-fill drilling will be launched at Claypan to search the area around where the nugget was found, as well as the significant soil anomaly discovered in surface tests.
“Iceni believes the artificial intelligence/machine learning targeting collaboration with SensOre will add significantly to the potential for success of the ongoing exploration campaign being undertaken at 14 Mile Well,” ICL Technical Director David Nixon said.
“[Additionally,] fieldwork has led to the discovery of a large ~2 oz gold nugget … this discovery has provided additional support for the Company to conduct in-fill drilling between the existing drill lines [at Claypan.]”
Iceni shares were up 9.09 per cent, trading at 12 cents at 10:44 am AEST.