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Alice Queen secures drilling grant for Mendooran Project in New South Wales

The grant monies are non-dilutionary and will fund direct drilling costs on a matched dollar-for-dollar basis.

Alice Queen Ltd - Alice Queen secures drilling grant for Mendooran Project in New South Wales
Mendooran forms an integral part of the company’s Northern Molong strategy

Alice Queen Ltd (ASX:AQX) has been awarded a $200,000 grant under the NSW New Frontiers Drilling Program.

The grant will provide funding for the company’s drill program at its Mendooran Project in the Northern Molong Belt in NSW.

Eight large-scale copper-gold targets remain untested in the Goonoo Goonoo State Conservation Area within the Mendooran tenement and this grant will allow the company to accelerate plans to test these targets, with a drilling program to launch subject to final access arrangements.

The Mendooran Project is an integral component of Alice Queen’s greater Northern Molong Project area and lies in close proximity to well-established mining operations including Newcrest Mining’s (ASX:NCM) Cadia Valley and highly prospective exploration projects such as Alkane Resources’ (ASX:ALK) recent major Boda discovery.

Drilling an untested area

Alice Queen managing director Andrew Buxton said: “We thank the NSW Government for continuing to support our Under Cover Northern Molong Strategy that we commenced in 2016.

“Mendooran is an important part of our Northern Molong Projects that measure more than ~700km2 from Mendooran North, Mendooran, Mendooran South, Yarindury and Boda East projects.

“With in excess of $1M spent on target generation and access at Mendooran since 2017, we are excited to be preparing to test eight large-scale copper-gold porphyry targets in an area that has never been drill tested.”

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