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Iceni Gold Ltd. ( (AU:ICL) ) just unveiled an announcement.
Iceni Gold reported an active December quarter centred on exploration at its 14 Mile Well Gold Project and the Welcome Creek Project, advancing drilling programs that target key geological structures believed to host significant gold and IOCG-style mineralisation. At the Guyer area within 14 Mile Well, the company completed two follow-up diamond drill holes totalling 612.62 metres to test granite- and basalt-hosted gold zones where earlier work returned notable high-grade intercepts, with assays from the latest drilling due in late February and likely to guide the next phase of exploration. Meanwhile, at Welcome Creek, a deep diamond hole (WCD001) has reached 1,475.5 metres towards a planned 1,500 metres, intersecting structurally complex zones with minor sulphides and broad oxidation but not yet resolving the source of a large geophysical anomaly, underscoring both the technical potential and exploration risk of the IOCG-style target. The company closed the quarter with cash reserves of $1.53 million, providing limited but ongoing funding capacity for further drilling and assessment of these exploration plays.
The most recent analyst rating on (AU:ICL) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Iceni Gold Ltd. stock, see the AU:ICL Stock Forecast page.
More about Iceni Gold Ltd.
Iceni Gold Limited is a Perth-based mineral exploration company focused on gold, with its flagship 14 Mile Well Gold Project in the Leonora-Laverton Greenstone Belt of Western Australia. The company holds a large, wholly owned tenement package of about 850km² on the western side of Lake Carey, strategically located between the major gold mining centres of Laverton and Leonora and adjoining Genesis Minerals’ Laverton Gold Operation. Iceni is also advancing exploration at its Welcome Creek Project in the Paterson region of Western Australia.
Average Trading Volume: 223,213
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$20.29M
Learn more about ICL stock on TipRanks’ Stock Analysis page.