ALICE QUEEN LIMITED ASX Announcement
14 January 2022
onlyPositive Gold Results Returned from RC
Drilling of Horn Island Legacy
Stockpiles
useAdvanced gold and copper explorer, Alice Queen Limited (ASX:AQX) ("Alice Queen" or the "Company"), is pleased to provide assay results from the recent RC drill program designed to test the profile of the legacy mining stockpiles at the Company's Horn Island Project, located in the Torres Strait, Queensland.
Highlights
personal | ♦ Several legacy stockpiles containing previously mined material at Horn Island contain an | |||
• | 5m | @ 1.4 g/t Au from 0m incl. 1m @ 4.5 g/t Au from 0m (21NGRC114) | ||
estimated volume of more than 4 million cubic metres | ||||
♦ An RC drill program (51 holes for 1,038m) to test the profile of these legacy stockpiles of was | ||||
completed with assays received in late December 2021 | ||||
♦ All stockpiles returned positive gold assay intercepts >0.4 g/t Au | ||||
♦ Best gold assay intercepts returned including: | ||||
• | 16m @ 1.0 g/t Au from 4m incl. 4m @ 3.2 g/t Au from 14m (21NGR093) | |||
• | 5m | @ 1.5 g/t Au from 7m incl. 2m @ 2.5 g/t Au from 8m (21NGRC0138) | ||
• | 3m | @ 1.6g/t Au from 0m incl. 1m @ 3.6 g/t Au from 1m (21NGRC102) | ||
• | 8m | @ 1.0 g/t Au from 2m incl. 2m @ 1.4 g/t Au from 3m, incl. 2m @ 1.5 g/t Au from 7m | ||
(21NGRC107) | ||||
For | • | 6m @ 0.8g/t Au from 0m incl. 2m @ 1.1 g/t Au from 1m (21NGRC127) | ||
♦ | Furthermore, limited intersections of surface & basement rocks underlying the heaps also | |||
returned positive gold results including: | ||||
• | 4m | @ 0.5g/t Au from 3m (21NGRC102) | ||
• | 2m | @ 0.5g/t Au from 6m (21NGRC104) | ||
• | 1m @ 0.6g/t Au from 15m (21NGRC121) | |||
• | 3m | @ 0.8 g/t Au from 6m incl. 1m @ 1.7 g/t Au from 6m (21NGRC131) | ||
• | 2m | @ 0.4g/t Au from 9m (21NGRC114) |
- There are several legacy stockpiles at Horn Island that contain mined material from the historic 1980s operation. From previous grab samples, we are aware that ore is present amongst this material. A limited RC program was designed to test the profile of these legacy stockpiles and it is very encouraging that this program returned
positive gold results from all tested stockpiles and may, in the future with further work, provide additional value to a mining operation at Horn Island."Alice Queen's Managing Director, Andrew Buxton said,
onlyLegacy Waste Heap RC Drilling Gold Assay Result Summary
"
Assay results from the RC drill program, carried out late in 2021 designed to test the legacy stockpile useprofiles have been returned with all stockpiles returning positive gold results (see Figure 1). This drill program tested a number of legacy heaps which had been stockpiled on surface from previous gold mining operations from the late 1980's and are estimated to contain in excess of 4 million cubic metres of mined material. The stockpiles are all located immediately around and adjacent to the abandoned
Horn Island mine pit.
The drilling program comprised of 51-holes for a total of 1038m and broadly tested several sites including.
- the low grade stockpile
- bund walls
- run of mine (ROM) areas
- waste dump
personalThe drill program was designed to test the profile of the stockpiles to assess if the heaps held ufficient gold values that could potentially be exploited in a potential future mining operation at Horn
Island.
Although these results are preliminary, they present a positive outcome as low-grade gold intercepts were returned from all stockpiles. Although the legacy heaps still present uncertainty, the results are encouraging as the material is already mined. This material was also separately included in the Tomra particle ore sorting test work (see ASX release 29 April 2021, POSITIVE RESULTS FROM ORE SORTER TESTWORK AT HORN ISLAND) that demonstrated the potential for this material to be pre-
Forconcentrated.
Although not the key focus of the drilling program, all holes were drilled through the legacy stockpiles into the underlying surface. The underlying rocks, these being analogous to the host rocks of the Horn Island gold resource, displayed sericite alteration and veining with number of holes returning low grade gold values, potentially identifying another area that may be subject to future extension drilling.
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The gold assay intercepts located underneath the legacy stockpile areas are as follows:
- 4m @ 0.5g/t Au from 3m (21NGRC102)
- 2m @ 0.5g/t Au from 6m (21NGRC104)
- 1m @ 0.6g/t Au from 15m (21NGRC121)
- 3m @ 0.8 g/t Au from 6m incl. 1m @ 1.7 g/t Au from 6m (21NGRC131)
- 2m @ 0.4g/t Au from 9m (21NGRC114)
Figure 1. Location of Legacy stockpiles and RC Drill collar locations
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Approved by the Board of Alice Queen Limited.
For more information:
only | Investor and Media Queries |
Andrew Buxton | |
Managing Director, Alice Queen Limited | Victoria Humphries |
+61 (0) 403 461 247 | victoria@nwrcommunications.com.au |
andrew.buxton@alicequeen.com.au |
Competent Persons Statement
useThe information in this announcement that relates to exploration results is based on information compiled by Mr Adrian Hell BSc (Hons) who is a full-time employee of Alice Queen Limited. Mr Hell is a member of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr Hell has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and the activity being undertaken to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves". Mr Hell consents to the inclusion of this information in the form and context in which it appears in this report.
personalASX 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 Scoping Study and MRE" dated 11 November 2021, which is available at www.asx.com.au the competent person being Mr. Dale Sims. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in those announcements continue to apply and have not materially changed.
For
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Where RC drill holes from the Close Space drill program intersected legacy stockpile heaps (cover) are reported in Table 2 and Table 4.
Table 1 Significant gold assay intercept (>0.4g/t Au) from Legacy Stockpile RC drilling program - Horn Island Gold Project
only | 21NGRC093 | 16m @ 1 g/t Au from 4m | Waste Dump | Legacy Waste | Notes | |
0-30m | ||||||
Drill Hole | Significant Intercept | Stockpile Area | Depth to | |||
Basement | ||||||
21NGRC088 | 2m | @ 0.5 g/t Au from 9m | Waste Dump | 0-10m | ||
21NGRC089 | 1m | @ 0.4 g/t Au from 0m | Waste Dump | 0-17m | ||
21NGRC089 | 1m | @ 0.5 g/t Au from 3m | Waste Dump | 0-17m | ||
21NGRC092 | 1m | @ 0.4 g/t Au from 6m | Waste Dump | 0-28m | ||
use | including | 4m | @ 3.2 g/t Au from 14m | Waste Dump | 0-30m | |
including.incl. | 1m | @ 6.2 g/t Au from 14m | Waste Dump | 0-30m | ||
including | 1m | @ 2.1 g/t Au from 26m | Waste Dump | 0-30m | ||
21NGRC094 | 3m | @ 0.4 g/t Au from 1m | Waste Dump | 0-30m | ||
21NGRC094 | 1m | @ 0.7 g/t Au from 16m | Waste Dump | 0-30m | ||
21NGRC094 | 1m | @ 0.4g/t Au from 27m | Waste Dump | 0-30m | ||
21NGRC097 | 1m | @ 0.4g/t Au from 0m | Waste Dump | 0-20m | ||
personal | 21NGRC098 | 2m | @ 0.7 g/t Au from 8m | Waste Dump | 0-21m | |
21NGRC098 | 2m | @ 0.4 g/t Au from 16m | Waste Dump | 0-21m | ||
21NGRC102 | 4m | @ 0.5g/t Au from 3m | Low Grade Stockpile | 0-3m | Basement intersection | |
21NGRC134 | 5m | @ 0.4 g/t Au from 1m | Waste Dump | 0-21m | ||
21NGRC135 | 2m | @ 0.7 g/t Au from 1m | Waste Dump | 0-17m | ||
21NGRC135 | 1m | @ 0.7 g/t Au from 14m | Waste Dump | 0-17m | ||
21NGRC136 | 3m | @ 0.4 g/t Au from 5m | Waste Dump | 0-18m | ||
21NGRC136 | 2m | @ 0.5 g/t Au from 13m | Waste Dump | 0-18m | ||
21NGRC137 | 1m | @ 0.5 g/t Au from 2m | Waste Dump | 0-8m | ||
21NGRC138 | 5m | @ 1.5 g/t Au from 7m | Waste Dump | 0-12m | ||
including | 2m | @ 2.5 g/t Au from 8m | Waste Dump | 0-12m | ||
21NGRC099 | 1m | @ 0.4 g/t Au from 1m | Low Grade Stockpile | 0-5m | ||
21NGRC100 | 2m | @ 0.4 g/t Au from 3m | Low Grade Stockpile | 0-9m | ||
21NGRC101 | 1m | @ 0.6g/t Au from 0m | Low Grade Stockpile | 0-4m | ||
21NGRC102 | 3m | @ 1.6g/t Au from 0m | Low Grade Stockpile | 0-3m | ||
including | 1m | @ 3.6 g/t Au from 1m | Low Grade Stockpile | 0-3m | ||
For | 21NGRC104 | 3m | @ 0.4g/t Au from 0m | Low Grade Stockpile | 0-3m | |
21NGRC104 | 2m | @ 0.5g/t Au from 6m | Low Grade Stockpile | 0-3m | Basement intersection | |
21NGRC105 | 4m | @ 0.6g/t Au from 0m | Low Grade Stockpile | 0-4m | ||
including | 2m | @ 1.0 g/t Au from 3m | Low Grade Stockpile | 0-4m | ||
21NGRC106 | 5m | @ 0.6 g/t Au from 0m | Low Grade Stockpile | 0-5m | ||
including | 1m | @ 1.0 g/t Au from 3m | Low Grade Stockpile | 0-5m | ||
21NGRC107 | 8m | @ 1.0 g/t Au from 2m | Low Grade Stockpile | 0-11m | ||
including | 2m | @ 1.4 g/t Au from 3m | Low Grade Stockpile | 0-11m | ||
including | 2m | @ 1.5 g/t Au from 7m | Low Grade Stockpile | 0-11m | ||
21NGRC108 | 7m | @ 0.4 g/t Au from 0m | Low Grade Stockpile | 0-9m |
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Alice Queen Ltd. published this content on 13 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2022 22:31:00 UTC.
