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Alice Queen drills up to 32.2 g/t gold at Horn Island Project

The company considers the results encouraging as it progresses towards an updated Mineral Resource Estimate (MRE) and scoping study to determine the economic viability for a mining operation.

Alice Queen Ltd - Alice Queen releases final gold assay results from Horn Island drilling
All 24 RC holes have returned gold grade assay intercept zones greater than 0.5 g/t gold.

Alice Queen Ltd (ASX:AQX) has released the final gold assays from its recently completed phase one reverse circulation (RC) infill drilling program at its Horn Island Project in the Torres Strait, Queensland.

A total of 38 RC drill holes for 7611 metres were drilled immediately southwest of the historical and abandoned Horn Island gold mine open pit area as part of the phase one RC drilling program.

Results from the final 24 RC drill holes include: 

  • 4 metres at 9.9 g/t gold from 45 metres including 1 metre at 32.2 g/t from 45 metres; 
  • 27 metres at 2.3 g/t from 104 metres including 1 metre at 18 g/t from 120 metres;
  • 23 metres at 3.2 g/t from 63 metres including 2 metres at 12.7 g/t from 69 metres; 
  • 10 metres at 2.2 g/t from 104 metres including 1 metre at 6.3 g/t from 107 metres; and 
  • 12 metres at 3.1 g/t from 74 metres including 1 metre at 16.5 g/t from 83 metres.

“Encouraging platform for resource update”

The company considers the results encouraging as it progresses towards an updated Mineral Resource Estimate (MRE) and scoping study to determine the economic viability of a mining operation.

Alice Queen managing director Andrew Buxton said: “These latest results round out a very successful RC infill drill program at Horn island.

“These results provide an encouraging platform for the planned updated mineral resource estimate.

“Even more importantly they are a key precursor to what is hoped to be a positive result from the company’s Horn Island scoping study which is currently on foot.” 

Phase 1 RC, interim Phase 2 (x 3 holes) and diamond drill hole collar locations adjacent to the historic 1980s gold mine open cut pit area. 

Potential future exploration

All 24 RC holes have returned gold grade assay intercept zones greater than 0.5 g/t gold and this higher gold assay distribution correlates with arsenic-lead-copper enrichment and forms a shallow south west plunging envelop across the resource and beyond. 

The near-surface projection of the gold and As-Pb-Cu enrichment correlates with the location of the historical and abandoned 1980s Horn Island gold mine open cut pit area. 

This presents potential in areas immediately below the current open cut pit which the drilling to date has not successfully fully tested. 

Alice QUeen may consider plans for further drilling including, additional infill and extension drilling programs. 

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