- Gold and copper explorer Alice Queen (AQX) has found evidence of a porphyry system at its Boda East drilling program
- Results from ten drill holes indicate that the company may have potentially identified the top of a mineralised porphyry system
- Alice Queen is still awaiting the results from three more holes, located in the main trend of the site
- The company will complete further targeting, once all laboratory results have been returned and follow-up drilling is planned
- Despite the potential porphyry system, Alice Queen is down 12.9 per cent and trading at 2.7 cents per share
Gold and copper explorer Alice Queen (AQX) has found evidence of a porphyry system at its Boda East drilling program.
The company has been drilling the Boda East prospect at its Yarindury Project, located within the Lachlan Fold Belt of New South Wales. Thus far, Alice Queen has completed drilling ten angled diamond holes and received results from seven of them.
The drill hole results suggest that the company may have potentially identified the top, or margin, of a mineralised porphyry system.
Alice Queen is still awaiting the results from the three remaining drill holes, 20BEDH007, 20BEDH009, and 21BEDH010. These holes lie in the main trend of the site, with one stepped out 800 metres to the north to test the continuity of the system.
“Prior to this drill campaign, we set out to identify a possible porphyry system, which we are now pleased to advise that we have succeeded in doing,” said Alice Queen’s Managing Director, Andrew Buxton.
“The deposit model suggests that we have only intersected the upper parts of a system which may improve at depth,” he added.
Andrew went on to say that Alice Queen will complete further targeting, once all laboratory results have been returned and follow-up drilling is planned.
Despite the potential porphyry system, Alice Queen is down 12.9 per cent, trading at 2.7 cents per share at 11:00 am AEDT.