Iceni Gold Reports 15m at 0.47g/t Au in Maiden Guyer RC Drilling

Iceni Gold’s Strategic Focus on Guyer Trend

Iceni Gold Limited (ASX: ICL) has made significant strides in its March 2025 quarter exploration activities at the 14 Mile Well Gold Project, located in Western Australia's prolific Leonora-Laverton Greenstone Belt. Central to this progress is the maiden reverse circulation (RC) drilling campaign at the Guyer Trend, a priority target area within the company's extensive tenement package.

Commencing in early February, the RC program comprised 31 holes totaling 6,420 metres across two drill sections spaced approximately 1,500 metres apart. The initial assay results from the first 16 holes on drill section one have been encouraging, with every hole intersecting gold mineralisation within altered granodiorite host rocks. Notable intercepts include 15 metres at 0.47 g/t Au from 189 metres and 10 metres at 0.67 g/t Au from 115 metres, highlighting broad zones of mineralisation that expand upon a previously defined +1000 metre wide aircore anomaly.

Advancing Geological Understanding with Diamond Drilling and Gravity Surveys

Building on the RC results, Iceni has initiated a 2,300-metre diamond drilling program and a high-resolution ground gravity survey at Guyer. These efforts aim to delineate the geometry and controls of the mineralised zones, particularly the structural trends that may host higher-grade gold mineralisation. The gravity survey, covering a 5 km by 2.5 km area, will complement existing aeromagnetic data to provide a refined geological framework beneath up to 40 metres of transported cover.

The diamond drilling program includes six holes designed to test interpreted structural trends and a deep hole at Guyer East targeting a primary zone beneath a known gold nugget patch. Assay results from these diamond holes are anticipated in July 2025, which will be critical in guiding future exploration phases.

Exploration Progress at Everleigh and Welcome Creek

Beyond Guyer, Iceni is advancing exploration at the Everleigh prospect, where a deep diamond drill hole (FMDD0052) has been extended to over 1,000 metres to evaluate a conceptual buried granite target linked to gold mineralisation. This target is supported by integrated geophysical modelling and historical mining activity in the area. Assay results from the extended hole are expected shortly, potentially shedding light on the structural and geological controls of mineralisation at Everleigh.

Additionally, the company has commenced a 120-hole aircore drilling program at Everleigh-Tatong to infill and expand upon previous results, focusing on key structural trends and areas with historical gold anomalies. At the Welcome Creek Project, Iceni is preparing to re-enter a historic drill hole to test a large coincident gravity and magnetic anomaly beneath significant cover, aiming to unlock new gold-copper mineralisation potential.

Financial Position and Tenement Status

Iceni Gold maintains a robust financial position with $3.47 million in cash reserves and no debt as of 31 March 2025. The company spent approximately $1.39 million during the quarter on exploration and corporate activities, primarily focused on advancing its 14 Mile Well and Welcome Creek projects. All tenements remain in good standing, with recent mining lease applications submitted to secure key prospecting licences.

The ongoing exploration programs are fully funded under the $35 million farm-in agreement with Gold Road Resources, which includes a $5 million minimum expenditure commitment. This partnership provides Iceni with the financial backing to accelerate its exploration efforts and unlock the value of its large contiguous landholding in a highly prospective gold district.

Looking Ahead

Iceni Gold’s exploration momentum is set to continue through the June 2025 quarter, with further drilling and geophysical surveys planned at Guyer and other priority targets within the 14 Mile Well Gold Project. The company’s methodical approach to defining structural controls and pathfinder elements associated with gold mineralisation positions it well to advance towards a significant discovery in this underexplored region.