Field work at 14 Mile Well. Source: Iceni Gold
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Iceni Gold (ICL) shares have enjoyed an uptick in today’s trading session after identifying new high priority target areas within the Deep Well prospect in Western Australia
  • ASX-lister says drilling at the Laverton Greenstone Belt hosted project had been “extremely successful”
  • Drilling has identified alteration over a 200-metre strike length, ultimately expanding the alteration zone over a one-kilometre strike length
  • Follow up aircore drilling on these alterations and known gold anomalies is set to continue
  • Iceni Gold shares are up 6.98 per cent to trade at 23 cents at 3:18 pm AEST

Iceni Gold (ICL) shares have enjoyed an uptick in today’s trading session after identifying new high priority target areas within the Deep Well prospect in Western Australia.

The company has wrapped up its first phase of aircore drilling at the Deep Well prospect, which sought to provide further context on a recent diamond drilling campaign completed at the project.

Iceni said drilling had been “extremely successful” and defined alteration over a 200-metre strike length, ultimately expanding the alteration zone over a one-kilometre strike length.

According to the ICL, the alteration zone is open to the north and south and hosts visual indications associated with white quartz veining, sulphides, silica, sericite and albite.

“Observable trends in the alteration reflect the underlying trends in the magnetics,” the company said in a statement.

“They are thought to be related to magnetite destruction by the alteration.”

Follow up aircore drilling on these alterations and known gold anomalies are set to continue.

Iceni Gold shares were up 6.98 per cent to trade at 23 cents at 3:18 pm AEST.

ICL by the numbers
More From The Market Herald
The Market Herald Video

" Lithium Australia’s (ASX:LIT) Envirostream receives first cash rebate for B-cycle scheme

Lithium Australia's (ASX:LIT) subsidiary, Envirostream Australia has received its first cash rebate for the B-cycle scheme.
The Market Herald Video

" Wagners (ASX:WGN) promotes CEO to Managing Director

Building materials company Wagners (ASX:WGN) appoints its current CEO to the board as Managing Director, effective…

" Matsa Resources (ASX:MAT) sells 70pc stake in Fraser Range tenements to IGO subsidiary

Matsa Resources (ASX:MAT) has entered an agreement with IGO Newsearch (IGO) who'll purchase a 70 per…
The Market Herald Video

" Australasian Metals (ASX:A8G) identifies tantalum mineralisation at Barrow Creek

Australasian Metals (A8G) identifies high-grade tantalum and tin mineralisation at the Barrow Creek Lithium Project in…