Exploration update on RC drilling and gold results at 14 Mile Well

Iceni Gold Limited (ASX: $ICL) has completed Reverse Circulation (RC) drilling of approximately 3,500m (33 holes) at the 14 Mile Well Gold Project. The drilling targeted high priority gold & lithium areas including Claypan, Breakaway, Monument Area, and Guyer Well, yielding several significant gold results. The company is also considering further drilling to assess the potential for basement sulphide mineralisation and is in the process of selling surplus assets to raise funds for future exploration.

Executive Commentary on Recent Exploration Work

Drilling was conducted on a number of targets within the 900km2 tenement package, with a specific focus at Guyer Well which had previously returned significant gold assay results. The recent RC drilling intersected a number of low-grade (<1g/t) mineralised shears hosted in three adjacent holes, confirming the continuity of the mineralised zone. Though the recent round of drilling results is less than desirable, it demonstrates that the 15km long Guyer Shear hosts low grade gold mineralisation. The company is now preparing Everleigh Well and Crossroads for the first round of drilling on these targets. Additionally, the company is well advanced in selling all surplus equipment, which is expected to realize significant proceeds by the end of the quarter.

Summary of RC Drilling and Exploration Update

Iceni Gold Limited (ASX: $ICL) has completed RC drilling at the 14 Mile Well Gold Project, yielding significant gold results at multiple target areas. The company is considering further drilling to assess the potential for basement sulphide mineralisation and is in the process of selling surplus assets to raise funds for future exploration. The recent drilling at Guyer Well confirmed the continuity of the mineralised zone, and the company is now preparing Everleigh Well and Crossroads for the first round of drilling on these targets. The company's focus remains on advancing exploration work and maximizing the potential of its tenement package.