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Alice Queen in trading halt ahead of Horn Island JV announcement

The company’s securities will remain in a trading halt until the beginning of trade on Wednesday, June 5, or until an announcement is made to the market.

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Alice Queen is developing several gold and copper exploration and mining opportunities

Alice Queen Ltd (ASX:AQX) is in a trading halt ahead of a joint venture proposal for the company’s flagship Horn Island Gold Project in Torres Strait, north of Cape York Peninsula.

The trading halt will remain in place until the beginning of ASX trading on Wednesday, June 5, 2019, or when an announcement is made to the market, whichever occurs earliest.

Alice Queen's shares last traded at 1.8 cents.

Horn Island project

In July 2018 the company revealed a profound change in the geological understanding and exploration potential at Horn Island following work by leading industry consultants.

The Horn Island (Ngurupai) project lies in the Kaurareg Archipelago of Torres Strait.

This process involved Alice Queen re-assaying almost 15,000 drill core samples and 1,700 surface rock chip samples using advanced analytical methods.

Real prize “still to come”

At the time, Alice Queen managing director Andrew Buxton said: “The new studies reveal that Horn Island gold mineralisation is in the deposit category of the well-known multi-million-ounce north Queensland deposits such as Kidston, Mungana, Mt Leyshon and Mt Wright.

“The most exciting part is that the Horn Island historical pit area, the subject of the company’s existing mineral resource is likely a secondary satellite expression within the much larger underexplored Horn Island alteration system.

“The real prize at Horn Island is still to come.”

Quick facts: Alice Queen Ltd

Price: 0.048 AUD

ASX:AQX
Market: ASX
Market Cap: $37.77 m
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