Iceni Gold With $2M Cash Injection and New MD To Accelerate Exploration at 14 Mile Well

Iceni Gold Ltd (ASX: ICL) is pleased to announce board changes and a cash injection to expedite new exploration programs.

Highlights

Proceeds from $2.2 million in surplus asset sales are to be used to fund ongoing exploration programs, including reverse circulation drilling at the Guyer Well, Everleigh Well, Goose Well, and Hages Bore Gold targets.

This includes the newly defined early-stage target at Crossroads, all within the 14 Mile Well Project.

A new managing director has been appointed, Wade Johnson, which in conjunction with the cash injection will accelerate and drive the next phase of gold exploration at 14 Mile Well.

Johnson is a geologist with over 30 years of experience, principally focused on gold exploration in Western Australia.

Most recently, he was managing director of Lefroy Exploration Ltd (ASX: LEX), where he led the team to expand the asset portfolio and grow the resource base to over 1 million gold ounces.

Brian Rodan will transition from executive chairman to non-executive chairman.

Rodan remains heavily involved in the company as the founder, major shareholder, and director.

An initial air-core drilling program is planned to commence in May, testing several significant priority generative targets, including Guyer Well and Crossroads.

Gold district location

The 14 Mile Well Project is situated in the heart of the world-class Leonora Laverton gold district.

It is within 75 kilometres of the major gold processing operations at Leonora, Mt Morgan, Granny Smith, and Sunrise Dam.

Initial exploration by the Company at 14 Mile Well since mid-2021 has outlined several early-stage gold prospects that have delivered a strong portfolio of targets that require further follow-up evaluation.

Ongoing prospect review and ranking have defined initial priority targets, with air-core drilling to commence shortly.

 

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