Alice Queen (ASX: AQX) has struck bonanza gold grades from infill drilling at its flagship Horn Island project in north Queensland’s Torres Strait.
This latest drill intersection delivered 7m grading 22.2 grams per tonne gold from 36m, which includes two bonanza grade intervals of 11m at 41.8g/t gold and 1m at 67.6g/t gold.
“With multiple prospects now alive at the Horn Island historic open pit and Southern Silicified Ridge, we are very pleased to be receiving bonanza grade results from our infill drill program,” Alice Queen managing director Andrew Buxton said.
He added that the 7m interval was “remarkable” due to it being near surface and containing the bonanza intervals.
The interval was part of the company’s phase two 47-hole resource drilling program that totalled 10,600m.
According to Alice Queen, the intercept confirms a “sizable high-grade gold zone” within Dead Cat Reef and it remains upon along strike 150m to the south-east and 150m to the north-east.
Assays from the program’s remaining 17 holes are anticipated before the end of the month.
Southern Silicified Ridge
Today’s news follows assay results from Southern Silicified Ridge that were reported on Monday.
An initial nine holes were drilled over the prospect with latest results returning 12m at 1g/t gold from 31m, including a 1m interval containing 7.8g/t gold from 33m. Another hole intercepted 2m at 5.56g/t gold rom 160m, with a 1m interval comprising 8.2g/t gold from 161m.
“With only a small part of Southern Silicified Ridge having been drill tested, we believe there is ample scope to build a second significant gold resource there,” Mr Buxton said.
The gold system that has been identified from the drilling campaign remains open to the south-east and north-west.
He added the Alice Queen’s exploration team was planning the next targets using historic induced polarisation data that has been reviewed and reprocessed.
By late afternoon trade, shares in Alice Queen had soared almost 10% to A$0.045.