Iceni Gold (ASX:ICL) said an 11,000-meter reverse circulation drilling program is underway at its Guyer prospect within the 14 Mile Well gold project in Western Australia, according to a Wednesday Australian bourse filing.
The drilling includes 56 angled drill holes planned, each 200 meters deep to test the primary zone beneath the 1000-meter-wide bedrock gold anomaly along four 900-meter-long east-west drill traverses with a nominal line spacing of 400 meters and with drill holes located at 80-meter centers.
The initial 5,000 meters of drilling is scheduled to be completed this month, with the first gold assay results expected in March, added the filing.
The company's shares fell almost 6% in recent Wednesday trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.