Subscribe
Be the first with the news that moves the market- Iceni Gold (ICL) discovers Volcanogenic Massive Sulphide (VMS) potential within the Claypan target at its 14 Mile Well gold project in Western Australia
- Drilling in the area intersected strong alteration over a broad area
- The findings are consistent with a VMS exploration model and are supported by the observation of known VMS deposits within the district
- Diamond drilling is continuing at the target, with assays expected in the third quarter of the calendar year
- Shares are trading 3.03 per cent higher today at 17 cents each
Iceni Gold (ICL) has discovered Volcanogenic Massive Sulphide (VMS) potential within the Claypan target at its 14 Mile Well gold project in Western Australia.
Drilling in the area intersected strong alteration over a broad area.
The findings are consistent with a VMS exploration model and are supported by the observation of known VMS deposits within the district.
The known VMS mineralisation is located immediately west of the project, with underlying stratigraphy associated with this mineralisation interpreted to extend through the Claypan target.
The company will use the VMS exploration model to guide future exploration as it is able to locate the focus of the hydrothermal activity and any associated mineralisation.
Iceni said the potential for VMS mineralisation was an unexpected positive result and it was not outlined in its IPO prospectus.
Diamond drilling is continuing at Claypan, with data being analysed to map out future drilling programs.
Assay results are expected to be received at the start of the third quarter in the calendar year.
Shares were trading 3.03 per cent higher today at 17 cents each at 10:48 am AEST.
