Join our daily newsletter At The Bell to receive exclusive market insights
- Alice Queen (AQX) identifies multiple gold targets at the Kaiwalagal Project in Queensland
- The targets were identified via recently completed airborne surveys undertaken to recognise the occurrence of hydrothermal systems and their gold potential
- Based on these results, Alice Queen has elevated the prospectivity ranking for the Kaiwalagal Project
- Alice Queen is now considering further field programs to follow up these target areas
- Shares in Alice Queen are up a healthy 15.4 per cent on the market and trading at 1.5 cents at 12:14 pm AEST
Alice Queen (AQX) has identified multiple gold targets at the Kaiwalagal Project in Queensland.
The Kaiwalagal Project spans across four islands in the Torres Strait with all islands in the project area subject to historical mining.
The targets were identified via recently completed airborne geophysical and satellite hyperspectral surveys.
The surveys were undertaken by Thomson Aviation for a total of 6829 survey line kilometres.
Data was then processed and reviewed by independent specialist consultants with findings providing strong evidence for the presence of a large-scale hydrothermal system.
The aim of these surveys was to recognise the occurrence of regional hydrothermal systems and their potential to host large-scale gold mineralisation.
Based on these results, Alice Queen has elevated the prospectivity ranking for the Kaiwalagal Project.
Managing Director Andrew Buxton is pleased with these encouraging results and will undertake further follow up programs.
“The results in from the airborne surveys flown across our Kaiwalagal Gold Project are incredibly encouraging as they have highlighted multiple compelling new targets for intrusions related gold and epithermal gold deposits,” Mr Buxton said.
“Based on these initial positive results, we have made the decision to elevate the prospectivity ranking for the Kaiwalagal Project and are currently considering further follow up exploration programs.”
Alice Queen is now considering further field programs to follow up these target areas.
Shares in Alice Queen were up a healthy 15.4 per cent on the market and trading at 1.5 cents at 12:14 pm AEST.
