- Alice Queen (AQX) begins testing the first target generated by a recently completed survey at the Horn Island gold project in Queensland
- The Jedha-1 anomaly is the first of three targets to be tested as part of its exploration strategy to realising further potential at Horn Island
- The initial drill hole is designed to intersect the Jedha-1 anomaly at depth and below surface alteration, stockwork veining and mineralisation
- This will help to inform the geological model and subsequent drill targets and holes
- AQX ends the day 14.3 per cent in the green to close at 0.8 cents
Alice Queen (AQX) has commenced drilling the first target generated by recent survey work at the Horn Island gold project in Queensland.
A few weeks ago, the company completed a dipole dipole induced polarisation (DDIP) survey at Horn Island which generated a large-scale chargeability anomaly with a strike length of more than 1.4 kilometres.
The anomaly has been called “Jedha-1” and it lies beneath the Southern Silicified Ridge (SSR) which extends for over 3.5 kilometres.
Alice Queen Managing Director Andrew Buxton said the company is focused on making new discoveries at Horn Island.
“We are increasingly confident that Horn Island is host to a large intrusion-related gold system and has the potential to host multiple gold deposits,” he said.
“All the work and studies we have completed previously, along with the most recent IP survey, gives us great encouragement that this first hole of our new exploration strategy will greatly contribute towards realising the full potential at Horn Island.”
The initial drill hole is designed to intersect the Jedha-1 anomaly at depth and below surface alteration, stockwork veining and mineralisation. This is aimed at informing the geological model and subsequent drill targets and holes.
Alice Queen received final results last week from the DDIP survey which, in addition to Jedha-1, identified the Endor-1 and Tatooine-1 targets. It’s expected the latter targets will be tested following Jedha-1.
AQX ended the day 14.3 per cent in the green to close at 0.8 cents.