Alice Queen reveals final gold assays as its Horn Island scoping study advances

Alice Queen Horn Island scoping study Fijian gold acquisitions AQX ASX 2021
Alice Queen is targeting completion of its Fijian gold projects within two months.

The March quarter was a busy period for Alice Queen (ASX: AQX), with the company kicking off a scoping study at its Horn Island gold project and revealing it was acquiring two “highly prospective” licences in Fiji.

In March, Alice completed a phase one reverse circulation infill drilling program at Horn Island in Queensland’s Torres Strait, targeting the historic Pioneer gold lode and southwest of the historic Horn Island open cut gold mine.

The company has today revealed the final 24 assays from the program, which comprised a total of 38 holes for 7,611m.

All assays from the 38 holes intercepted gold exceeding 0.5 grams per tonne.

Highlights from the latest round of assays include 2m at 74.4g/t gold from 56m, including 1m at 148g/t from 56m; 3m at 15.8g/t gold from 31m, including 1m at 43.3g/t from 31m; 4m at 9.9g/t gold from 45m, including 1m at 32.2g/t from 45m; and 27m at 2.3g/t gold from 104m, including 1m at 18g/t from 120m.

Other notable results from initial assays included 2m at 22.9g/t gold from 37m, including 1m at 43g/t gold from 37m; 19m at 3.2g/t gold from 80m, including 3m at 10.9g/t gold from 93m; and 7m at 10.5g/t gold from 159m, including 1m at 29.1g/t gold from 162m.

The results will feed into the scoping study that began at the start of March.

The project has an existing inferred open pit resource of 7.9 million tonnes at 1.9g/t gold for 492,000 ounces.

Alice Queen managing director Andrew Buxton said the results also provide an “encouraging platform” for the planned updated mineral resource estimate.

New South Wales copper-gold exploration

Also during the March quarter, Alice completed two diamond holes for 1,444m at its Mendooran project in New South Wales.

The two maiden holes tested the northern extension for large undercover copper-gold porphyry systems.

Over at Boda East, which is in NSW’s Lachlan Fold Belt, Alice carried out a 10 angled diamond hole program, with a total of 6,819m drilled over 3.2km of strike.

The program was designed to explore for copper-gold porphyry mineralisation similar to Alkane Resources’ (ASX: ALK) nearby Boda discovery where drilling intersected 1,167m at 0.55g/t gold and 0.25% copper from 75m.

Drilling uncovered evidence of a porphyry system with remaining assays from the program expected shortly.

Fijian gold acquisitions

The March quarter heralded Alice’s entry into the Fijian gold space with the company agreeing to acquire Viti Mining, which owns the Nabila and Viani prospects.

This acquisition is targeted for completion in two months.

Nabila encompasses 27.3sq km and is on the western side of the main island Viti Levu.

Previous exploration has focused on a 2km gold-base metal surface anomaly.

Alice plans to review and compile all existing data sets as well as drill extensions to the identified Faddy’s prospect.

The project also hosts the historic Mistry mine which produced 746oz gold at 13g/t before it was closed in 1958.

Over at Viani, the prospecting licence covers 208.5sq km and is located on Fiji’s second largest island, Vanua Levu.

Alice noted the project was easily accessible by a highway and nearby domestic airport.

This project is believed to be prospective for gold with previous surface rock and soil geochemical sampling defining a 4.3km surface anomaly.

Here, Alice will verify former drill results including re-assaying and re-logging core.

Other work will include mapping and sampling programs along with geophysics surveys.

Based on these findings, Alice will test any targets it firms up.

Preliminary desktop reviews and database consolidation of previous exploration at both projects is underway.

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