ICL - Iceni Gold

[Daytr]

These guys had similar if not better grades from rock ship samples to Artemis, 16,000 gpt, 10,000 gpt etc. Anyway they have just completed their first round of drilling about 10 days ago and the assays are due any day.

Should be an interesting ride. Last time they went up around 350% just on the rock chip samples, and they have come right back again.

If the drill results come back with good grades & intersections the SP should do a lot more as it's far more reliable than just rock chip samples.

https://www.icenigold.com.au/site/investor-centre/asx-announcements

[Daytr]

Interesting use of AI. I think the use of AI will become more common as an exploration targeting tool especially in gathering together historic geological data.

AI-Targeting-Advances-Au-Discovery-Potential-at-14-Mile-Well.pdf (icenigold.com.au)

[Daytr]

Just had a good chat with the MD and he was very informative particularly around the geology and what they are looking for. The high grade veins & rock chip samples at surface have likely come from the ancient (2.3Bln years) base rock and have been shifted by the alluvial cover which is more like 30M years old. So, they are trying to identify what the source is under the 30 - 50 meters of cover for the extremely high grade samples found at surface. We are all waiting on the diamond core drill assays but this taking time due to a backlog & that diamond drill assays just take longer especially when including a range of metals other than just gold. I.e copper & silver etc.

Meanwhile the company as we know is also performing an RC drilling campaign which is more drilling through the cover to see if they can identify source targets in the base rock. So patience is required, but I was impressed by Wade and his fourth right nature.