Iceni Gold (ASX:ICL) has uncovered new ‘significant’ soil and rock chip anomalies containing nickel and lithium from the 14 Mile Well Project in the Laverton Greenstone Belt of Western Australia.
The company has been conducting ultrafine (UFF+) sampling over a 2-year period across the entire tenement package. Around 15,180 soil samples were taken and analysed for 50 elements.
In this sampling program, 4 UFF+ nickel soil anomalies, 2 ‘large’ rockchip/UFF+ lithium anomalies, and 6 ‘large’ UFF+ gold anomalies were uncovered.
Commenting on this discovery, Iceni Gold Technical Director David Nixon says: “The presence of potential nickel and lithium targets at the 14 Mile Well Project, in addition to our primary gold targets, adds significant exploration upside and supports the company’s decision to complete the tenement-wide soil sampling campaign from the outset following the IPO.
“Iceni will follow-up on these exciting targets in parallel to its focus on gold”
These new nickel and lithium anomalies are reinforced by multi-element soil geochemistry and have geochemical signatures known to be associated with lithium and nickel mineralisation in the Yilgarn.
The lithium anomalies have a similar tenor and extent to other published lithium anomalies within the Yilgarn Craton that host major lithium projects such as Mt Holland. Iceni will follow-up on these exciting targets in parallel to its focus on gold.”
Iceni Gold’s share price has jumped 5.56% to $0.095 as of 10.34am.
Iceni reports work from the CSIRO UFF+ soil program has identified a number of nickel and multi-element anomalies associated with mafic-ultramafic rocks within the project.
The 2 lithium anomalies have been uncovered within the Monument target area and were defined by anomalous lithium and multi-element UFF+ and rockchip assays.
Iceni Gold Executive Chairman Brian Rodan says: “The decision to conduct a project-wide UFF+ soils campaign across the entire tenement package following completion of the IPO has paid off, with numerous significant anomalies being identified to date.
We look forward to these new anomalies being field-validated over the next 6 months, and further announcements will be made in due course as this work progresses. These new nickel and lithium targets are an attractive addition to the company’s gold targets at 14 Mile Well, and we certainly look forward to drill testing them in the future.”
Iceni recently conducted reconnaissance fieldwork across the Monument Granite dome, which uncovered multiple areas that have the potential for gold, alongside lithium.
The Leonora-Laverton district hosts a number of Australia’s ‘significant’ critical minerals projects, and some of these are located within a 50km radius of Iceni’s 14 Mile Well Project.
Iceni Gold is a Perth-based exploration company that operates the 14 Mile Well Gold Project. The company has 8 ‘high-priority’ target areas for gold within the project area and is actively exploring those target areas.
Write to Aaliyah Rogan at Mining.com.au
Images: Iceni Gold Ltd