Alice Queen strikes gold in all holes undertaken during recent resource extension drilling at Horn Island
Alice Queen (ASX: AQX) has intersected gold in all holes undertaken in the recent resource extension drilling program at its Horn Island project in Queensland’s Torres Strait.
The program comprised six diamond holes to test an approximate strike length of 230m.
Assays have revealed all holes drilled intersected gold zones with mineralisation exceeding 0.5 grams per tonne gold.
Alice Queen managing director Andrew Buxton said the results were “very encouraging” and that the company was hopeful it will continue to add further tonnes and ounces to the existing 500,000oz gold resource.
“The extension drilling confirms that the mineralisation remains open towards the south and northwest.”
“This is coincidental with the overall trend of the Tatooine anomaly that extends into the St Barbara joint venture area,” Mr Buxton added.
Highlight results from the six hole resource extension program were 35m at 2.1 grams per tonne gold, including 9m at 5g/t and 1m at 22.4g/t; 19m at 2g/t gold, including 2m at 6.3g/t and 1m at 6.1g/t; and 13m at 1.7g/t gold, including 1m at 15.6g/t.
Horn Island and St Barbara JV
Alice Queen will resume drilling its wholly-owned portion of Horn Island, which includes the 500,000oz resource, infrastructure, stockpiles and all alluvial gold across the island to 5m below surface.
A reverse circulation infill program will begin imminently and comprise 33 holes for 4,100m.
Meanwhile, St Barbara (ASX: SBM) is spending $4 million over three years to lock-in 70% of the project outside of the excluded zones.
Mr Buxton said simultaneous to Alice’s drilling, St Barbara was drilling its Tatooine anomaly so the target was effectively being hit from both sides.
“With future RC infill drilling planned, it is key to remember that the existing Horn Island inferred resource could be increased by both volume and ounces from either or both of the two (Alice Queen and St Barbara) programs currently being carried out.”