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Alice Queen and St Barbara completes soil and rock chip sampling at Horn Island Gold Project

St Barbara has the right to earn a 70% interest in the Horn Island Gold Project in Torres Strait, far-north Queensland by sole funding expenditure of $4 million within three years.

Alice Queen Ltd - Alice Queen and St Barbara completes soil and rock chip sampling at Horn Island Gold Project
Assay results expected within the next month

Alice Queen Ltd (ASX:AQX) has completed a soil and rock chip geochemical sampling program across its Horn Island project under a recently formed JV with St Barbara Ltd (ASX:SBM).

A total of 407 soil and 174 quartz vein rock chip samples were collected, with assay results expected within the next month.

Notably, rock chip sampling has revealed an extensive zone of quartz-sulphide and quartz only veins, with associated sericite-chlorite alteration, extending about 2 kilometres northwest from the Horn Island gold resource (~0.5 million ounces) and historical mining centre.

Quartz vein rock chip sample locations (purple squares are quartz-sulphide veins and red squares are quartz only veins) overlain on airborne magnetic image. Note that quartz vein rock chip sample occurrences correspond to a series of magnetic low anomaly trends, interpreted to indicate significant hydrothermal fluid pathway structures for potential gold mineralisation. The orange polygon denotes the overall distribution of observed quartz veins.

The quartz veins correlate with a series of northwest trending aeromagnetic low anomaly trends covering a total area of about 1.6 square kilometres.

These anomalies are interpreted to represent structures acting as primary fluid pathways for potential gold mineralisation.

Recently completed soil geochemical sampling coverage extending to the northwest from Horn Island gold resource to Naboo surface gold geochemical anomaly zone. Samples were collected at 50-metre intervals on grid lines spaced 100 metres apart.

Upcoming IP survey program

AQX will shortly commence a ground dipole-dipole induced polarisation (DDIP) survey over the zone of extensive quartz veining and recent geochemical surveying to potentially identify near-surface to deeply occurring chargeability anomalies which may be caused by sulphide minerals associated with gold mineralisation.

Planned ground DDIP survey to commence shortly

The DDIP survey program is expected to run for about 32 days.

Once completed, the SBM-AQX JV technical group will review the results from both the geochemical and geophysical surveys, interpret the new data in conjunction with existing exploration data acquired and compiled by AQX, and undertake a further target generation and ranking exercise.

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