Iceni Gold Limited provided an exploration update on the Everleigh Target Area. Gold in specimen stone has been recovered from the Everleigh target area. This is a significant result because the specimen stone is coarse and angular indicating it has not been transported far from source.

Searching in the general area of the finds has located outcropping rock that is similar to the host material within the specimen stone. Further sampling is planned in this area. Specimen stone EV-1 was previously found near diamond drillholes FMDD0032 and FMDD0034.

The specimen was analysed to identify any characteristics that can assist the search for mineralisation. Analysis by Orexplore involved the x-ray imaging of EV-1 to identify the internal distribution of gold within the specimen. The analysis identified two types of gold.

The first type has a fine disseminated texture throughout the quartz. The second type is confined to the outer surface and along penetrative fractures through the specimen. Analysis by Portable Spectral Services involved surface scanning of the specimen to identify the composition of the gold.

The first type of gold has a low gold-silver ratio that is consistent with the known early epizonal styles of mineralisation within the Yilgarn. The second type of gold has a high gold-silver ratio, which is consistent with expected supergene modification of existing gold.