Alice Queen Ltd (ASX:AQX) has been granted a trading halt with an announcement pending in regard to a proposed capital raising.
The trading halt will remain in place until Thursday, August 26 or when an announcement is made to market, whichever occurs earliest.
Diamond drilling at Mendooran
AQX is poised to diamond drill its two highest-ranking copper-gold porphyry targets within the Mendooran Project in Central West New South Wales.
This exploratory drilling program will comprise two deep 700-metre diamond core holes into the targets at Mendooran.
Notably, Mendooran lies on the Molong Volcanic Belt (MVB) that hosts Newcrest Mining Ltd’s world-class Cadia copper-gold porphyry deposit as well as Alkane Resources Limited’s recent Kaiser-Boda discovery.
"Progressively moving towards this moment"
Alice Queen managing director Andrew Buxton said at the time: “For four years we have been progressively moving towards this moment.
“The company has completed a substantial body of work from both an access and geological perspective that is compelling us to now drill these two targets at Mendooran.
“Our previous JV with Newcrest enabled us to find and rank the potential scale of the targets.”