Iceni Enters Farm-in with Gold Fields for up to $10M
| Stock | Iceni Gold Ltd (ICL.ASX) |
|---|---|
| Release Time | 30 Jun 2026, 9:10 a.m. |
| Price Sensitive | Yes |
Iceni Gold Enters Farm-in with Gold Fields for $10M
- Iceni Gold has entered a farm-in agreement with Gold Fields for up to $10M
- Gold Fields can earn up to a 70% interest in the Everleigh Project
- Exploration activities are expected to commence in July 2026
- Iceni retains 100% ownership of the remainder of the 14 Mile Well Gold Project
Iceni Gold Limited (ASX: ICL) has executed an Option and Joint Venture agreement with Gold Fields over the Everleigh prospect within the 14 Mile Well Gold Project in Western Australia. The agreement allows Gold Fields to spend up to $10 million to earn up to a 70% interest in the Everleigh Project. The farm-in area, known as the Everleigh Project, is part of Iceni's 100%-owned 14 Mile Well Gold Project. Gold Fields must spend a minimum of $1.5 million within two years and $5 million within three years to earn a 51% interest. They can further earn an additional 19% interest by spending another $5 million within five years. Iceni will manage the initial exploration phase, with activities expected to commence in July 2026. Iceni retains 100% ownership of the remaining 14 Mile Well Gold Project.
Gold Fields to spend up to $10M over 5 years
Gold Fields' involvement is expected to accelerate evaluation of other highly prospective targets in the 14 Mile Well Gold Project.