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- Alice Queen (AQX) has begun its maiden diamond drill program at the Mendooran Project in New South Wales
- Mendooran lies within the Goonoo Goonoo State Conservation Area and Alice Queen is the first company to have gained all regulatory approvals to drill in the area
- The aim of this drilling is to test for large copper-gold porphyry systems in the highly prospective Molong Volcanic Belt
- Alice Queen will also test for broad magnetic high anomalies which are believed to span a strike length of 22 kilometres
- This work will be funded from a $200,000 grant awarded by the NSW Government’s New Frontiers Co-operative Drilling initiative
- Alice Queen is up 11.7 per cent on the market and shares are trading at 3.4 cents
Alice Queen (AQX) has begun its maiden diamond drill program at the Mendooran Project in New South Wales.
Mendooran lies within the Goonoo Goonoo State Conservation Area (SCA) and Alice Queen is the first company to have gained all regulatory approvals to drill in the area.
Two holes, for 1200 metres, have been planned, with the first, 21MEDH001, already underway.
The aim of this drilling is to test for large Ordovician (the time period which occurred between 1.5 million to 1.9 million years ago) copper-gold porphyry systems in the highly prospective Molong Volcanic Belt.
Alice Queen will also test for broad magnetic high anomalies which are believed to span a 22-kilometre strike length.
This work will be funded via a $200,000 grant awarded by the NSW Government’s New Frontiers Co-operative Drilling initiative.
“This is a very exciting and highly rewarding time for Alice Queen following an extended application process over the past few years at Mendooran, we are grateful to have been given the green light to test these significant targets within the Goonoo Goonoo SCA,” Managing Director Andrew Buxton said.
“Being the first movers to drill test Palaeozoic basement rocks within this area provides a huge opportunity for Alice Queen to potentially make a discovery,” he added.
Results will be reported on as work progresses.
Alice Queen is up 11.7 per cent on the market and shares are trading at 3.4 cents at 12:16 pm AEDT.
