Iceni Gold Launches 7,000m RC Drill Program at Everleigh Funded by Gold Fields A$10M Farm-In

Manish Choudhary

10 November 2026 12:56 PM AEDT

Iceni Gold Launches 7,000m RC Drill Program at Everleigh Funded by Gold Fields A$10M Farm-In

Image Source: Krish Capital Pty Ltd

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Iceni Gold Limited (ASX:ICL) has commenced an initial reverse circulation drilling program of more than 7,000 metres across approximately 50 holes at the Everleigh Farm-In area within its 14 Mile Well Gold Project, located between Leonora and Laverton in Western Australia, with the program fully funded by Gold Fields Australia under an A$10 million Farm-In, Option and Joint Venture Agreement.

Key Points

An initial RC drilling program of more than 7,000 metres across approximately 50 holes is now underway at the Everleigh Farm-In, targeting the Bellbird Dolerite unit across four key target areas over a 5km strike length on ten drill traverses.
The program is fully funded by Gold Fields under the A$10 million Farm-In, Option and Joint Venture Agreement, which commenced on 30 June 2026 and covers a 48km² tenement package over five years.
Heritage survey has been completed with access approved on four priority target areas and both Stage 1 and Stage 2 drill sites cleared.
Assay results from the drill program are expected from December through to January 2027, according to the filing.

Everleigh Farm-In RC Drill Program Details

The RC drill program targets the Bellbird Dolerite sill across ten drill traverses in four key target areas over a 5km strike length. Target ET1 includes the Wild West Trend, which comprises three aircore gold anomalies greater than 0.1 grams per tonne gold — Rio Bravo, Sundance and High Noon — initially identified through Iceni's project generation activities in 2025. The exploration targeting applies a dolerite-hosted Mt Charlotte-style mineralisation model, testing favourable fractionated horizons and structural settings described in the filing as analogous to the Golden Mile Dolerite. Historical data interrogation identified high-grade gold rock chips and multiple gold nugget fields coincident with the priority drill targets.

Gold Fields Joint Venture Agreement and Farm-In Structure

The Everleigh Farm-In is underpinned by an option and joint venture agreement with G Ex Australia Pty Ltd, a subsidiary of Gold Fields Limited. The agreement provides for Gold Fields to spend up to A$10 million over five years on a 48km² package of tenements, with the Farm-In commencing on 30 June 2026. According to the filing, the arrangement allows Iceni to focus exploration efforts on other high-priority targets, including Goose Well, on 100% held non-joint-venture tenements covering approximately 424km². The filing states the combined team progressed from agreement execution to drilling in four months.

Bellbird Dolerite Sill Background and Wild West Trend

The Bellbird Dolerite Sill is a northwest-trending, highly magnetic unit interpreted from aeromagnetic imagery, located approximately 2.5 kilometres south of the Castlemaine workings and adjacent to the western contact of the Danjo Granite. First-pass aircore drilling commenced at Everleigh in early 2025 targeting the Castlemaine-Tatong Trend and Tatong South. That program defined the Wild West Trend, comprising three greater than 0.1 gram per tonne gold anomalies extending over approximately 2 kilometres of strike. Iceni's 14 Mile Well Gold Project is located between the major gold mining townships of Leonora and Laverton in Western Australia, and the Everleigh area forms the central portion of the project.

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