Iceni Gold Limited has identified 7 key high priority target areas at the ~600km2 tenement package around 14 Mile Well, situated on the western side of Lake Carey, ~ 50km from Laverton WA. All assay results have now been received from the initial diamond drilling program conducted at Deep Well Target FMW44. Eleven diamond drill holes were completed in the program (FMDD0001-11), for a total of 2,183.5m. The diamond drilling identified a large hydrothermal alteration system, including sulphides, and also intersected hydrothermally altered syenite and lamprophyre intrusions. However, the drilling did not intersect economic gold mineralisation at these specific locations.
The Company is still awaiting assay results from the 132-hole Air Core drilling program totalling 6,860m surrounding the initial diamond drilling program and is anticipating receiving these results in February. Diamond drilling commenced at target FMW44 at Deep Well in June 2021, following up gold anomalism identified in historic exploration work. Significant historic drill results at target FMW44 at Deep Well include: KOW013 with 4m @ 0.66g/t Au, 4m @ 0.14g/t Au & 5m @ 3.32g/t Au, KOW014 with 4m @ 0.16g/t Au, 8m @ 0.25g/t Au & 4m @ 0.55g/t Au. The diamond drilling at Deep Well was designed to replicate the historic drilling, test beneath the historic gold results, and test further along strike. The diamond drilling program intersected zones of sulphide bearing alteration adjacent to a significant north trending shear zone at target FMW44. Dr. Walter Witt (ex. GSWA and UWA) was engaged by the Company to complete a geological study on the diamond core from Iceni's 14 Mile Well project. Dr. Witt has extensive experience working with syenite related gold mineralisation in the Eastern Goldfields of Western Australia. Dr. Witt identified several types of intrusions at target FMW44 at Deep Well, including hydrothermally altered syenite and a lamprophyre in the diamond core. Within the Laverton District there is a consistent association between syenite intrusions and gold mineralisation. For example Heffernan's, Jupiter, Cameron Well and Wallaby are known to be hosted or associated with syenites. The diamond drilling program was followed up in August 2021 by an Air Core drilling campaign designed to identify broader anomalous trends. The program included 132 Air Core holes for 6,860m. The Air Core program was successful and identified a series of altered structures at target FMW44 that enlarged the alteration envelope to a length and width of 1km. Gold assays, Hyperspectral Mineralogy and Bottom of Hole multi-element results from the Air Core drilling are still pending. When these results are received in their entirety, they will be collectively analysed by an independent consulting geochemist to gain insights into the behaviour and distribution of the pathfinder elements, alteration and zonation patterns that can vector towards possible gold deposits in this target area. Target FMW44 was identified during target generation work conducted by Southern Geoscience Consultants. Numerous targets were identified along with a series of other targets specifically associated
with the Deep Well Intrusion. During 2021 the Company drill tested target FMW44 with the Deep Well diamond drilling and Air Core drilling programs. During 2022 the Company is planning to test a number of these targets with an Air Core drilling campaign, specifically testing the Deep Well East area, which includes the targets FMW40 and FMW46. The association of syenite intrusions with gold deposits is common and is a well-documented characteristic of gold deposits, particularly in the Laverton District and in the Abitibi Greenstone Belt in Canada. Classification of the Syenite family of rocks. Syenites are intermediate igneous rocks that have low quartz contents and an elevated alkali content. This type of melt can be rich in volatile components which are known to transport gold. Conceptual Syenite model (after Robert 2001). Syenites exploit deep mantle tapping structures and intrude to higher levels in the Earth's crust. Syenites display strong associations with shear zones and regional unconformities in Archaean Greenstone Belts. Gold mineralisation can form within or adjacent to the syenite intrusion. The key characteristics of mineralised syenites. The presence of porphyry intrusions and lamprophyres is a common ingredient identified by geologists when evaluating the prospectivity of an Archaean greenstone property. High level porphyries and the suite of alkaline intrusions that includes syenites, monzonites and closely associated lamprophyres, is intimately linked with gold mineralisation in the Laverton District and within Archaean greenstone belts globally. This global association (porphyry, syenite or lamprophyre) is so consistent that it is difficult to find a major Archaean greenstone gold deposit where they are not present. The Company plans to conduct over 25,000m of diamond drilling and 100,000m of Air Core drilling at the 14 Mile Well Gold project in 2022 and is looking forward to a very successful year ahead.