Iceni Gold Secures $2.5 million to Accelerate Exploration at Key Gold Targets

Highlights:

• Iceni Gold Limited (ASX: ICL) successfully raised $2.5 million through an oversubscribed placement to fund key exploration programs.
• Funds will support drilling at the 14 Mile Well Gold Project, including Everleigh-Tatong and Goose Well targets, and a deep drill at Welcome Creek.
• Directors and existing shareholders backed the raise, with additional support from new institutional investors.

Capital Raise to Drive Exploration Activity

Iceni Gold Limited (ASX: ICL) has successfully raised $2.5 million through a heavily oversubscribed placement to institutional and sophisticated investors, a move aimed at advancing its exploration programs across Western Australia. At the time of writing, the placement involves the issue of 32,733,334 shares at $0.075 per share, along with one attaching option for every two shares subscribed (exercisable at $0.12 within two years). Company directors have also pledged support, committing an additional $45,000 to the placement, pending shareholder approval. The capital raise is being executed under the company’s existing placement capacity in accordance with ASX Listing Rules 7.1 and 7.1A.

Focus on 14 Mile Well and Welcome Creek Projects

Proceeds from the capital raise will primarily fund exploration at Iceni’s flagship 14 Mile Well Gold Project (14MWGP), with particular focus on high-priority zones including Everleigh-Tatong and Goose Well. These activities will include aircore and reverse circulation drilling to test mineralisation potential in underexplored areas. Additionally, the funds will support the commencement of initial exploration at the Welcome Creek Au-Cu target, located 140km south of Telfer. A single deep diamond drillhole exceeding 1,000 metres is planned to evaluate the site’s copper-gold potential.

Partnerships and Outlook

Exploration at the Guyer prospect within 14MWGP continues to be funded under an existing Farm-In Agreement with Gold Road Resources (ASX: GOR). The company expects exploration updates across four key areas over the next six months, promising a steady news flow for shareholders.

Iceni’s management sees this funding round as a pivotal step to unlocking the mineral potential of its extensive tenement package in the Leonora–Laverton district.

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