Iceni Gold (ASX:ICL) said a 31-hole reverse circulation drilling program at the Guyer prospect, located at its 14 Mile Well gold project in Western Australia, intersected high-grade gold mineralization, according to a Tuesday Australian bourse filing.
It reported a significant intersection of seven meters at 4.05 grams per tonne grade of gold from 148 meters, its best result from the prospect to date.
A 2,300-meter campaign of diamond drilling is now underway. The multi-element data from the reverse circulation drilling will be used to define key pathfinder elements associated with gold mineralization.
The exploration program at the Guyer prospect is managed by Iceni and is part of an initial AU$5 million minimum expenditure commitment by Gold Road Resources (ASX:GOR) under a farm-in agreement.
Its shares were up 9% in recent trading on Tuesday.
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