Join our daily newsletter At The Bell to receive exclusive market insights
- Alice Queen (AQX) will drill two deep diamond core holes into the highest-ranking copper-gold porphyry targets at the Mendooran Project in WA
- The Mendooran Project lies on the Molong Volcanic Belt in NSW which hosts Newcrest’s (NCM) world-class Cadia copper-gold discovery
- These two holes will be targeting a northwest-southeast trending cross-arc structure which is similar to Cadia
- Drilling will be co-funded by the NSW New Frontiers Co-Operative Drilling grant with work to begin in Q3 2021, subject to dry ground conditions
- Alice Queen ends the day in the grey with shares trading at 1.4 cents
Alice Queen (AQX) will drill two deep diamond core holes into the highest-ranking copper-gold porphyry targets at the Mendooran Project.
The Mendooran Project lies on the Molong Volcanic Belt in NSW which hosts Newcrest’s (NCM) world-class Cadia copper-gold discovery.
These two holes will be targeting a northwest-southeast trending cross-arc structure which is similar to the Cadia discovery.
The program has been developed by Chief Technical Advisor John Holliday who is the co-discoverer of Cadia.
Drilling will be co-funded by the NSW New Frontiers Co-Operative Drilling grant with work to begin in Q3 2021, subject to dry ground conditions.
Managing Director Andrew Buxton said this was what the company had been moving towards.
“For four years we have been progressively moving towards this moment,” Mr Buxton commented.
“The company has completed a substantial body of work from both an access and geological perspective that is compelling us to new drill these two targets at Mendooran.
“Finally, and importantly, our recent exploration drilling in the area has given us the confidence to head further north to not only drill near the cross arc structure that exists at the target location, but to apply for an additional exploration licence.”
Alice Queen has ended the day in the grey with shares trading at 1.4 cents in a $17.31 million market cap.
