Alice Queen Limited provided an update in relation to its Boda East Project in the Lachlan Fold Belt, NSW. Diamond drill hole 22BEDH011 has been completed for a total depth of 780m. The hole has visually confirmed the continuity of mineralisation beneath 20BEDH001.

Alice Queen commenced drilling 22BEDH011 on the 4th of October with the hole completed to 780m on the 22nd of October. The hole was planned to test beneath the sulphide-bearing altered mafic volcanics identified in 20BEDH001 which returned zones of elevated Cu, Au and Mo most consistently below 326m. Three zones of sulphide mineralisation have been intersected in 22BEDH011, with the following observations.

Porphyritic dykes intruding basalt were intersected at near surface in an interval from 26 to 49 metres. These dykes are associated with quartz veins carrying minor coarse chalcopyrite and pyrite with distinctive pink alteration halos, interpreted as haematite dusting of feldspar. Estimates are trace to 0.05% visible chalcopyrite and 0.5% visible pyrite over this interval.

This is the most eastern mineralisation discovered on the project to date. Coarse-grained chalcopyrite and minor coarse-grained bornite was observed in an interval from 65 metres to 71 metres in moderately calc-silicate altered basalt. Chalcopyrite and minor bornite are hosted in fractured basalt and epidote-carbonate-potassium feldspar veins with average visible chalcopyrite ± bornite of 0.2% and 1% visible pyrite through this 6m interval.

Coarse-grained and disseminated chalcopyrite and pyrite was observed over 736 to 745 metres within an interval of strong biotite-haematite-epidote alteration with estimates of 0.35% chalcopyrite and 1% visible pyrite over this 9m interval. Moderate to strongly focussed epidote alteration and vein-hosted calc-silicates including garnet and actinolite were observed over wide intervals in 22BEDH011 from 51 to 369 metres. Moderate to strong biotite-haematite-epidote alteration, associated with the deeper interval of observed mineralisation (736m to 745m), was observed over the interval 723 to 780 metres.

Cutting and sampling has been completed with samples submitted for analysis. The intersection of observed mineralisation close to surface is encouraging with Alice Queen planning to commence surface mapping and sampling over the Boda East Prospect in early November. It is anticipated that this work may delineate the further near surface mineralisation detected in 22BEDH011 for follow up drill testing.