Alice Queen Ltd

Alice Queen Ltd to explore additional copper-gold porphyry targets

Alice Queen Ltd (ASX:AQX) has expanded its Molong Volcanic Belt portfolio in central New South Wales, after being granted a new exploration license.

Alice Queen Ltd to explore additional copper-gold porphyry targets

The new licence, known as “Mendooran”, continues the company’s strategy of exploring for copper-gold porphyry deposits along the highly prospective Molong Volcanic Belt.

The Mendooran target was selected by the company’s chief technical advisor, John Holliday, who was a principal discoverer of Newcrest Mining Ltd’s (ASX:NCM) giant Cadia Valley deposits.

Cadia Valley is one of Australia’s largest gold mining operations.

Mendooran covers about 300 square kilometres of prospective Molong Volcanic Belt rocks undercover of younger Pilliga sandstones.

Alice Queen’s new license is along strike, and analogous in concept to Looking Glass, where the company is currently drilling.

Last week, the first drill hole at Looking Glass confirmed the presence of Molong Volcanic Belt rocks analogous to the rocks hosting the Cadia copper-gold deposits.

The two projects together provide Alice Queen with what is expected to be a significant unexplored porphyry ground in Australia.

Quick facts: Alice Queen Ltd

Price: $0.02

Market: ASX
Market Cap: $14.48 m

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