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- Alice Queen (AQX) is looking to review and upgrade the Sabeto prospect in its Fijian portfolio following its neighbour Lion One’s (LLO) discovery
- Lion One recently discovered a major new gold structure grading 20.86 grams per tonnes (g/t) gold over 75.9 metres at its Tuvatu project in Fiji
- Upon receipt of its licence, Alice Queen will look to complete an extensive geological mapping program and reprocessing of historical geophysical data
- Currently, the company is conducting a consultation process with the traditional landowners and is following the appropriate process instructed
- Shares in Alice Queen hold steady at 0.5 cents as of 11:54 am AEST
Gold and copper explorer Alice Queen (AQX) is looking to review and upgrade the Sabeto prospect in its Fijian portfolio following its neighbour Lion One’s (LLO) discovery at the Tuvatu alkaline gold project in Fiji.
Lion One had recently discovered a major new gold feeder structure grading 20.86 grams per tonnes (g/t) gold over 75.9 metres beneath the current resource at Tuvatu.
“We have always viewed Fiji as one of the world’s great gold addresses,” Alice Queen Managing Director Andrew Buxton said.
“This recent news from our next door neighbour Lion One Metals, reinforces our decision to pursue exploration opportunities in this underexplored jurisdiction.”
The Sabeto prospect is located on a major regional geophysical anomaly, situated between the Tuvatu deposits located 6.5 kilometres to the east, and the Vuda prospect, four kilometres to the north-west.
Upon the receipt of its licence, Alice Queen will to complete an extensive geological mapping program and reprocessing of historical geophysical data under an initial phase.
In a second phase, Alice Queen would likely look to emulate the controlled-source audio-frequency magnetotellurics survey (CSAMT), a process that was instrumental for Lion One in targeting the “deep-feeder zone” at Tuvatu.
The company said its application process has been acknowledged by the Department of Mineral Resources of Fiji under the authority of the Director of Mines and has received the application number CX 873.
It has also received the “Waiver of Pegging Rights” on January 27 which gives the exclusive right to formally start the application for a special prospecting license (SPL).
Currently, the company is conducting a consultation process with the traditional landowners and is following the appropriate process instructed, successfully complied with all preliminary stages.
Once completed, the department will trigger the 30-days public consultation process.
Alice Queen believes the overall process will take an average of six months if all requirements are complied in an orderly manner.
Shares in Alice Queen held steady at 0.5 cents as of 11:54 am AEST.
