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Alice Queen opens higher on hitting further copper-gold mineralisation in diamond drilling at Boda East

A review of results is ongoing to examine the nature of the intrusions and further assess copper-gold prospectivity.

Alice Queen Ltd -
Alkane Resources' Boda discovery lies less than 2 kilometres to the west of Alice Queen's Boda East target

Alice Queen Ltd (ASX:AQX) has intersected further copper-gold in three diamond drill holes at Boda East within the Yarindury Project in the prolific Lachlan Fold Belt of central New South Wales.

Some elevated zones of copper were returned in hole 20BEDH010 that indicate the northern area remains open while large areas east and at depth also remain untested.

Notable results include 7 metres at 0.03 g/t gold and 0.28% copper from 561 metres, including 1-metre at 0.14 g/t and 1.03% from 566 metres.

Other holes returned 5 metres at 0.01 g/t and 0.19% from 185 as well as 3 metres at 0.01 g/t and 0.11% from 696 metres.

Buoyed by the results from an area that has created considerable interest, investors have responded positively with shares opening 8.33% higher to 1.3 cents.

Work program continuing

Speaking to the results, managing director Andrew Buxton said: “All results have now been returned from the Boda East drilling, with the better results clearly demonstrating they are associated with the magnetic intrusive complex where we have targeted the bulk of our drilling.

“We are continuing our work program to better understand the nature and further potential of this area.”

These results confirm the persistence of the discrete diorite-monzonite dykes hosted by shoshonitic mafic to intermediate volcanic rocks.

Further discrete intersections of mineralisation were identified along the western trend, supported by results from holes 20BEDH007 and 20BEDH009.

There is evidence that the mineralisation may persist around 800 metres to the north in 21BEDH010, with some elevated zones of copper being present.

The Nindethana Fault, a significant structure, remains untested. 

Looking ahead

The best results to date lie in the vicinity of holes 20BEDH001 and 20BEDH007 with discrete copper-gold-molybdenum intersections and surrounding disseminated sulphides1,2 west of the Limestone Fault, where the drill program was targeted.

Considering that the significant Boda prospect of Alkane Resources Ltd (ASX:ALK) lies less than 2 kilometres to the west, an ongoing review will continue with the aim of understanding the nature of the intrusions and further copper-gold potential at Boda East.

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