Alice Queen Ltd (ASX:AQX) has returned the final assays from a close-space reverse circulation (RC) drill program that informed the scoping study for the company’s Horn Island Gold Project in the Torres Strait, Queensland.
The encouraging results also included recently returned surface and near-surface assays that are subject to additional biosecurity protocols.
Drill results in entirety
Alice Queen managing director Andrew Buxton said: “The close-spaced drilling program was completed in an already well-understood area of the mineral resource and informed the recently completed scoping study and mineral resource estimate.
“This announcement presents the drill results in their entirety including recently received assays for the surficial material that is subject to additional biosecurity protocols associated with the Torres Strait quarantine zone.”
Results
Multiple high-grade gold (>5g/t gold) intercepts returned across comparable depths include:
- 7 metres at 2.3 g/t gold from 28 metres including 1-metre at 9.8 g/t from 31 metres;
- 10 metres at 11.7 g/t from 30 metres including 4 metres at 25.9 g/t from 36 metres;
- 5 metres at 6.4 g/t from 30 metres including 1-metre at 14.0 g/t from 33 metres;
- 8 metres at 2.2 g/t from 31 metres including 3 metres at 5.3 g/t from 34 metres;
- 11 metres at 2.3 g/t from 27 metres including 2 metres at 9.4 g/t from 36 metres;
- 6 metres at 5.3 g/t from 27 metres including 1-metre at 24.5 g/t from 27 metres;
- 3 metres at 2.6 g/t from 20 metres including 1-metre at 6.0 g/t from 20 metres;
- 11 metres at 1.8 g/t from 29 metres including 1-metre at 6.9 g/t from 32 metres;
- 5 metres at 2.7 g/t from 25 metres including 1-metre at 10.6 g/t from 29 metres;
- 15 metres at 1.4 g/t from 25 metres including 3 metres at 4.5 g/t from 37 metres including 1-metre at 6.1 g/t from 38 metres; and
- 4 metres at 2.7 g/t from 26 metres including 1-metre at 7.8 g/t from 28 metres.
The program tested a small but well-understood area of the mineral resource area at its south-eastern side.
It informed the recently completed scoping study and mineral resource estimate (MRE).
The MRE (JORC 2012, indicated and inferred) is reported at a > 0.4 g/t gold cut off for 16.7 million tonnes at 0.98 g/t gold for a total of 524,000 ounces of gold.