Iceni Gold Limited (ICL) has completed a 362-metre diamond drill hole at the Goose Well target, a key component of the company's 14 Mile Well gold project in Western Australia. The drilling program was designed to improve the geological understanding of the Goose Well Intrusive Complex and determine the structural controls governing gold mineralisation in the area. Initial observations from the core have successfully validated the company’s structural model, specifically identifying the existence of a major fault corridor now referred to as the Gander Fault.

The diamond hole, FMDD0058, intercepted a zone of broken and brecciated ground measuring approximately 25 metres in width. This structural feature is significant because it provides critical context for the surrounding multi-phase intrusive system, which consists of quartz syenite and monzogranite intruded by various generations of lamprophyre dykes. The identification of this fault zone has already prompted a revision of the geological model, as core data indicates the lamprophyre units are steeply dipping and likely parallel to the fault, rather than shallow-dipping as previously interpreted.

"The diamond core has provided information that could not have been obtained through RC drilling alone, with early observations confirming the presence of a major fault corridor, named the 'Gander Fault', comprising a ~25m-wide zone of fault gouge and brecciated quartz syenite intrusion with intensely sheared lamprophyre." — Wade Johnson, Managing Director

Geological evidence of a robust hydrothermal system is also present, characterized by strong silica-carbonate alteration and widespread sulphides that become more intense toward the Gander Fault. Furthermore, hand-held magnetic susceptibility measurements taken from the core show progressive demagnetization near the fault, which correlates with previous aeromagnetic survey data.

The team is currently processing the core and integrating these structural and petrophysical findings into the broader exploration model. This work is essential for refining future drill targeting and minimizing exploration risk across the project. Investors can expect further clarity on the system’s potential when final assay results for the hole are released in August 2026.

Read the full announcement: Gander Fault Confirmed at Goose Well