Advanced gold explorer,
HIGHLIGHTS FOR THE QUARTER
Drilling commenced at Yarindury in
The North Molong project prospectivity was highlighted during the quarter following a significant intersection by
Horn Island JV exploration defines new anomalous soil and rock chip gold zone to the northwest of the existing open pit area, with a dipole dipole induced polarisation (DDIP) survey completed late in the quarter, and
Post quarter end, the Company was drilling at both
HORN ISLAND JV EXPLORATION FOCUSSED NORTHWEST OF PIT
During the reporting period, Alice Queen focussed on the JV program of work at its
As part of the target generation program for large-scale Intrusion Related Gold Systems (IRGS), an infill surface soil and rock chip program was undertaken over an area of 2km x 1km to the northwest of the existing open pit and 0.5Moz Inferred Mineral Resource (Mineral Resource is excluded from the JV). A total of 407 (primary and duplicate) soil samples were collected on 200m spaced NE orientated lines with sample intervals at 50m. 176 quartz vein rock chip samples were selectively collected over a similar area.
For the soil sampling program, a maximum assay result of 2.31g/t Au was returned over the existing Mineral Resource, with 21 samples returning anomalous results of >0.1g/t Au. The rock chip sampling program returned a maximum result of 215g/t Au, with 14 samples returning greater than 1.0g/t Au. The anomalous gold results occur within an area of 1.5km located to the northwest of the existing Mineral Resource (excluded from the JV).
The anomalous gold commonly correlates with aeromagnetic low anomaly trends, which have the potential to represent primary structures for hosting potential gold mineralisation. A review of the multi-element geochemical analyses indicates that anomalous gold in surface samples is associated with enriched Sb-Ag-As-Pb-Zn. This is consistent with the gold and multi-element association observed in the Horn Island Mineral Resource and is similar to the geochemical signature of other intrusion related gold deposits in
The surface sampling area was followed up by a DDIP survey in December targeting a broader area than the surface program, covering 3km x 2.5km. The DDIP results are still being interpreted as at the date of this release.
HORN ISLAND ORE SORTING AND MINERAL RESOURCE DRILLING PROGRAM PLANNED
During the quarter, preparations were made for the commencement of a limited PQ diamond core drill program, consisting of 3 holes for 490m to provide a larger sample size from within the existing Mineral Resource to further advance planning for future Mineral Resource drilling, as well as providing sufficient material for bulk ore sorting testwork with Tomra.
Given that the gold within the Horn Island Inferred Mineral Resource is predominantly associated with quartz veins and not contained within the host rock, Tomra ore sorting technologies offer the potential to significantly reduce the mass of material prior to milling by separating the veins from the host rock. The drill program commenced post the end of the quarter in January.
PROSPECTIVITY OF NORTHERN MOLONG PROJECTS HIGHLIGHTED DURING THE QUARTER
Alice Queen has been active in the Northern Molong Belt in
The Boda discovery of 502m at 0.48g/t Au and 0.20% Cu by
Alice Queen has a large portfolio of 100% owned tenements in the North Molong, including
Following Alkane's discovery, the Company has received significant interest from investors, shareholders and other parties with regards to the prospectivity of the Northern Molong Projects.
DRILLING COMMENCED AT HIGHLY PROSPECTIVE COPPER/GOLD PORPHYRY TARGETS AT YARINDURY
During the quarter, Alice Queen commenced a nine hole drilling program at its Yarindury gold-copper project in NSW, focusing on high-quality porphyry AuCu targets. Yarindury is along trend from
The Au-Cu porphyry targets are defined by a series of magnetic and gravity features with similarities to the magnetic and gravity signatures at the Cadia and North Parkes porphyry deposits.
In December, the Company reported that the first three holes had been completed, with cover thickness of 60m, significantly less than the 200m that had been predicted. The shallow nature of the cover will improve the economic potential of the project if mineralisation is intersected.
Post quarter-end, the Company announced that it had completed eight out of the nine holes, with logging, sampling and assaying all underway. Results are expected in the March quarter.
MARCH QUARTER EVENTS
HORN ISLAND MINERAL RESOURCE AREA
As mentioned previously in this report, Alice Queen has commenced a limited PQ diamond core drill program, consisting of 3 holes for 490m to provide a larger sample size from within the existing Mineral Resource to further advance planning for future Mineral Resource drilling, as well as providing sufficient material for bulk ore sorting test work with Tomra. Results from this program are expected to be announced in the March quarter.
YARINDURY DRILLING PROGRAM TO BE COMPLETED SHORTLY
The Company announced in mid-January that it had completed eight out of a planned 11-hole drill program at Yarindury. This program is expected to be completed shortly with assay results to be reported during the March quarter.
ASX LISTING RULE 5.23 STATEMENT
The information in this ASX Release that relates to the Company's Mineral Resource estimate is extracted from and was reported in the Company's ASX announcement titled 'Horn Island Resource Upgrade' dated
The information in this ASX Release that relates to Exploration Results is extracted from the report released
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