Iceni Gold's Quarterly Activities Report for the quarter ended 30 June 2024

Iceni Gold Limited (ASX: $ICL) has reported significant discoveries at the Christmas Gift prospect in the Everleigh Well area. The company raised $1.7 million through a share placement and received $1.8 million from the sale of surplus assets, injecting a total of $3.5 million into its operations. The maiden multi-hole diamond drill program commenced during the June Quarter to test the strike extent of the gold bearing structure over 50m and evaluate the potential for parallel hanging and foot wall structures to the Christmas Gift shear.

Executive Commentary

The Company is pleased to report the discovery of multiple spectacular gold bearing quartz veinlets at the Christmas Gift prospect. The high-grade rock chip assay results and the production of a 9.5oz gold doré bar from a crushed bulk sample of ore bearing rock are significant milestones for our exploration efforts. The successful capital raising and the commencement of the diamond drill program demonstrate our commitment to advancing the understanding of the gold bearing structure and evaluating its potential. We are optimistic about the prospectivity of the target and look forward to the assay results to further guide our exploration activities.

Summary

Iceni Gold Limited's Quarterly Activities Report highlights the remarkable discoveries at the Christmas Gift prospect, including the exposure of high-grade gold bearing quartz veinlets and the production of a 9.5oz gold doré bar. The company's successful capital raising and the commencement of the diamond drill program reflect its dedication to advancing exploration efforts. With the confirmation of the Christmas Gift shear's strike length of at least 50m and its consistent width, the company is optimistic about the prospectivity of the target. Iceni Gold's ongoing exploration program and the pending assay results are expected to provide further insights into the potential of its high priority targets, driving the company's exploration strategy forward.