Iceni Gold Schedules 7,000m Drill Campaign at Everleigh Funded by Gold Fields
Key Takeaways
- Gold Fields is funding a ~7,000m Stage 1 RC drill program at Iceni's Everleigh project under a signed Option and JV agreement, with Iceni carrying zero exploration cost on the ~48km² package.
- Drilling across 50 priority RC holes commences mid-October 2026, with Stage 1 assay results expected December 2026 — a defined four-month catalyst window.
- The Wild West trend hosts three bedrock gold anomalies (Rio Bravo, Sundance, High Noon) over ~2km of strike within the Bellbird Dolerite, supported by prior aircore intercepts including 1m @ 1.91 g/t Au from 64m.
- A potential Stage 2 program of 78 holes for 11,700m is already defined and ready to execute subject to Stage 1 results, bringing total potential drilling to 18,700m across both stages.
- Iceni retains 100% of its ~535km² non-JV landholding in the Leonora-Laverton district, within 75km of multiple operating mills, with major-funded Everleigh exploration freeing capital for its wholly-owned ground.
Iceni Gold has scheduled a ~7,000m Reverse Circulation drilling campaign at the Everleigh project within the 14 Mile Well Gold Project, funded under its Option and Joint Venture agreement with Gold Fields Australia. The program commences October 2026, with results expected December 2026. A globally significant gold major is funding exploration on Iceni’s ground, de-risking cost while Iceni retains focus on its 100%-owned tenure.
Stage 1 drill program: 50 holes across four targets
The Stage 1 program will test 50 priority 1 RC holes for 7,000m along the Bellbird fractionated dolerite sill, a prospective ~5km corridor within the Everleigh project area. Subject to Stage 1 results, a potential Stage 2 follow-up program of 78 priority 2 RC holes for a further 11,700m has been defined. A portion of Stage 1 drilling focuses on the newly identified Wild West trend.
Program structure:
- Stage 1: 50 priority 1 RC holes for 7,000m
- Stage 2 (defined, subject to Stage 1 results): 78 priority 2 RC holes for a further 11,700m
- Target corridor: ~5km Bellbird dolerite
- Four key RC drill target areas
The staged design allows rapid escalation on success without upfront commitment.
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Inside the funding deal: Gold Fields’ up-to-$10M earn-in
The Option and Joint Venture agreement was signed 30 June 2026. Program commencement is now scheduled (27 August 2026). Under the agreement, Gold Fields may earn up to 70% of the Everleigh project by spending up to $10 million over a ~48km² package of tenements. Iceni retains 100% of its non-JV ~535km² package. Iceni is the initial manager during the earn-in phase.
| Stage | Gold Fields earns | Expenditure required | Timeframe |
|---|---|---|---|
| Minimum Obligation | — | $1.5M minimum | Within 2 years of signing |
| Stage 1 Interest (51% Option) | 51% | $5M (incl. Minimum Obligation) | Within 3 years of commencement |
| Stage 2 Interest (additional 19% Option) | Additional 19% (70% total) | Further $5M | Within 5 years of commencement |
Total package: up to $10 million over ~48km².
The geology explained: why the Bellbird Dolerite matters
The exploration strategy targets Mt Charlotte-style gold mineralisation within the Bellbird Dolerite, analogous to the Golden Mile Dolerite (GMD) that hosts major gold deposits at Kalgoorlie. Fractionated dolerites like the GMD are significant gold hosts. Where favourable stratigraphy coincides with folding, faulting, and structural disruption, mineralised quartz-stockwork veining can develop. The Bellbird Dolerite defines a ~5km prospective corridor where anomalous gold mineralisation has already been identified at Wild West.
Real-time pXRF geochemistry will be used during drilling to track changes in key elements copper (Cu) and vanadium (V) through the Bellbird Dolerite. Determining the switch in Cu-V abundance assists in determining stratigraphic younging (way up), providing a vector towards the more prospective parts of the dolerite. This is a systematic, evidence-led targeting approach comparable to a world-class producing system, not blind drilling.
Wild West trend: three anomalies already defined
The Wild West trend is located approximately 2.5km south of Castlemaine-Tatong, adjacent to the western contact of the Danjo Granite. It hosts three gold anomalies (>0.1 g/t Au) extending over a strike length of approximately 2km, all hosted within the Bellbird dolerite.
The three anomalies:
- Rio Bravo – northern anomaly (~600m x 300m) over an interpreted fold hinge in the Bellbird Dolerite
- Sundance – central ~500m-long anomaly hosted by foliated Bellbird Dolerite with cross-cutting quartz veining and chlorite-quartz-sericite brecciation
- High Noon – largest anomaly (~750m x 400m), where quartz veining and gold mineralisation coincide with a major granite–dolerite structural intersection
Selected 2025 aircore intercepts show prior gold signal, including 1m @ 1.91 g/t Au from 64m, 1m @ 1.76 g/t Au from 58m, and 16m @ 0.29 g/t Au from 20m. Pre-existing gold-in-bedrock anomalies give the RC campaign well-defined targets.
Wade Johnson, Managing Director
“We are excited to be accelerating exploration at Everleigh in partnership with Gold Fields, with scheduling underway for the first phase of a major ~7,000m RC drill program scheduled to commence in October. This campaign is a culmination of Iceni’s systematic exploration approach, which has identified a series of priority targets under cover across this highly prospective part of the 14 Mile Well Gold Project. The ~5km Bellbird fractionated dolerite represents the primary target of the Farm-In and hosts the recently defined Wild West Trend. Our exploration model draws on the characteristics of major dolerite-hosted gold systems of the Eastern Goldfields, targeting favourable parts of the dolerite where folding, faulting and structural disruptions may have focused mineralising fluids and developed stockwork veining systems. Importantly, we will use pXRF geochemistry during drilling to help establish the stratigraphy of the Bellbird Dolerite with this information assisting in vectoring towards its more prospective horizons. Combined with the three recently identified bedrock gold anomalies beneath transported cover, this provides us with a clear and systematic strategy for testing the broader corridor. We look forward to continuing our partnership with Gold Fields. The Farm-In enables Iceni to accelerate exploration at Everleigh while continually assessing other priority targets across our 100% owned tenure and building the next generation of targets within the 14MWGP.”
What happens next: timeline to results
The near-term sequence is clearly defined, with multiple catalysts within four months. Funding is fully covered under the agreement.
Timeline:
- Coming weeks: Site reconnaissance and drill site pegging
- September 2026: Heritage survey, then drill site clearing
- Mid-October 2026: Stage 1 drilling commences
- December 2026: Stage 1 results expected
- Early 2027: Potential Stage 2 program (subject to Stage 1 results)
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Why the Everleigh farm-in strengthens the Iceni investment case
Major-funded drilling at Everleigh frees Iceni’s capital to advance its 100%-owned ~535km² package (Guyer, Wild West, Goose Well). Iceni is one of the largest landholders in the Leonora-Laverton district, near multi-million-ounce deposits and within 75km of multiple operating mills. The existing separate Gold Road Resources Limited (now Gold Fields) Guyer farm-in provides further evidence of major-partner endorsement across Iceni’s tenure.
Ready to Explore the Full Exploration Strategy Behind Iceni’s 14 Mile Well Gold Project?
Iceni’s partnership with Gold Fields positions the company to rapidly test a highly prospective corridor analogous to Kalgoorlie’s Golden Mile, with multi-stage drilling fully funded by a global major. The Wild West anomalies and systematic pXRF geochemistry approach provide a clear path to discovery.
Find out how Iceni is leveraging major-funded exploration to unlock value across its 100%-owned ground by visiting the Iceni Gold investor centre. View the full 27 August drilling announcement and upcoming timelines through to December 2026 results.