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Alice Queen ready to drill porphyry targets along trend from Cadia

The project is along trend from Newcrest Mining Ltd's (ASX:NCM) Cadia Valley 42-million ounce gold-copper mine.

Alice Queen Ltd - Alice Queen ready to drill porphyry targets along trend from Cadia
The company’s technical advisor John Holliday co-discovered Cadia Valley

Alice Queen Ltd (ASX:AQX) is preparing to drill porphyry gold-copper targets within its Yarindury Project in New South Wales.

Six targets have been generated for drilling by the company’s technical advisor John Holliday.

Holliday said: “Yarindury provides a rare opportunity to test undrilled quality porphyry targets under quite shallow cover on Australia’s premier porphyry geology.”

The targets are under sedimentary cover which is interpreted to have an average depth of less than 200 metres.

READ: Alice Queen raising $400,000 to advance Horn Island Project

Alice Queens’ managing director Andrew Buxton said: “We are really excited to recommence exploration at our NSW porphyry projects, Yarindury has multiple exciting kilometre scale gold-copper porphyry targets, along strike from Newcrest’s Cadia Valley.

“John Holliday, who is the co-discoverer of Newcrest’s Cadia Valley, has been responsible for generating our undercover Molong Volcanic Belt projects and has completed the generation of our drill targets at Yarindury.”

Targets have porphyry-style aspects and are untested by drilling

The target areas have the most attractive magnetic, and also gravity, features for a porphyry setting.

The shapes of these magnetic features are also pointed and arcuate, thus possibly due to intrusive (porphyry) rocks, and there has been no drilling at all to test this area.

Quick facts: Alice Queen Ltd

Price: 0.049 AUD

ASX:AQX
Market: ASX
Market Cap: $38.56 m
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