Iceni Gold Limited has 7 key high priority target areas within the 14 Mile Well project area. Iceni is actively exploring the target areas using geophysics, Ultrafine (UFF+) soil sampling, air core (AC) drilling and diamond drilling (DD). The ~800km2 14 Mile Well tenement package is situated on the western shores of Lake Carey, ~ 50km from Laverton WA.

Highlights: All gold assays have been received from FMDD0036. Gold mineralisation was intersected in magnetic dolerite. Gold is associated with sulphides and quartz veins beneath UFF+ gold soil anomaly associated with a magnetic high.

UFF+ results suggest magnetic unit is linked to a broader 5km long zone of surface gold anomalism. Everleigh: Results from FMDD0036: All assay results have now been received from the DD hole FMDD0036 at Everleigh Well. Three DD holes were completed in the program (FMDD0032, 34 & 36), for a total of 1,783m.

The drilling program was designed to test beneath the UFF+ gold soil anomalies where they were coincident with a number of geological and geophysical targets. Hole FMDD0036 was testing a discrete magnetic high ~4km south of holes FMDD0032 & 34 at Everleigh. Immediately west of the Castlemaine Fault hole FMDD0036 intersected a magnetic dolerite (with an average magnetic susceptibility of 275 x 10-3 SI).

Gold mineralised intervals were highly visual with quartz carbonate veining associated with strong alteration patterns created by the conversion of magnetite to sulphides. Gold mineralisation is associated with the development of the sulphides pyrite, pyrrhotite and chalcopyrite within the magnetic dolerite. The orientation of the mineralised veins in FMDD0036 is consistent with dextral shearing along the Castlemaine Fault.

The clustering of anomalous UFF+ gold samples associated with the magnetic dolerite unit has now been established at 14UF008 where underlying gold mineralisation in magnetic dolerite has been intersected by FMDD0036. Further along strike to the west-northwest clustering of the UFF+ gold anomaly is associated with the magnetic dolerite forming a broader zone of anomalism. This is very encouraging because the gold association with magnetic dolerite is well known within the Eastern Goldfields and is present within a number of large gold deposits like the Golden Mile Dolerite at Fimiston and Mt Charlotte, as well as other large regional gold mines like Revenge, Victory-Defiance, Junction, Jundee and Darlot.

The gold assay results from the DD program demonstrate the right geological processes occurred at Everleigh. These processes were favorable for the transport and deposition of gold and reinforce the potential for the Castlemaine Fault and the magnetic dolerite to be associated with gold mineralisation. Follow-up on-ground exploration work continues within the Everleigh Well target area, along the magnetic dolerite and along the 30km long Castlemaine Fault.