Alice Queen Ltd (ASX:AQX)’s Dipole Dipole Induced Polarisation (DDIP) survey at Horn Island Gold Project in the Torres Strait, Queensland, indicates an open, large-scale chargeability anomaly (Jedha-1) with a strike length greater than 1.4 kilometres.
The emerging and potentially large-scale anomaly identified is very encouraging and is well-aligned with the company’s strategy to discover additional deposits.
Accordingly, the potential for higher-grade gold to develop at depth and/or along strike remains a strong possibility.
The Jedha-1 chargeability anomaly has a vertical target range from near-surface to greater than 250 metres depth below surface and appears to deepen and broaden to the southeast.
Preliminary modelling of the DDIP data indicates the Jedha-1 chargeability anomaly is highly comparable to the Horn Island resource IP chargeability anomaly.
Jedha-1 is untested by current drilling.
The ground DDIP survey is now more than 40% complete and is expected to be concluded by the end of January 2022.
Grow resource base
Alice Queen managing director Andrew Buxton said: “It is likely that Horn Island hosts multiple deposits representing multi-million-ounce potential.
“Our 2022 exploration strategy at Horn Island is to make further discoveries and continue to grow our resource base.
“DDIP survey with coincident gold has been proven to be a successful target generation tool at Horn Island. From the interim results received, we expect that the large emerging IP anomaly at Horn Island will extend considerably further to the SW.
“The survey is expected to be complete by the end of this month and with the diamond rig waiting at site, we hope to be drilling for discovery later in February.
Interim results
The surface expression of this anomaly is associated with previously identified broad and complex altered stockwork vein zones reporting numerous high-grade chip (>10 g/t gold) and channel sampling gold assay results.
Previously completed shallow diamond drilling program of nine holes for 1,449 metres directly above a portion of this IP anomaly returned multiple assay intercepts >0.5 g/t gold (cut off).
Metal zonation studies from surface sample data indicate that the gold-antimony enrichment directly above the Jedha-1 anomaly is characteristic of the distal part of a larger mineralised system likely found at depth.
Surface vein chip sampling above and along the projected trend of this anomaly has revealed numerous high-grade gold assays of >10 g/t gold, including 250.0 g/t, 50.5 g/t, 19.5 g/t, 18.2 g/t, 15.7 g/t, 15.4 g/t, 13.2 g/t and 11.4 g/t gold, and channel samples including:
- 4 metres at 4.20 g/t including 1-metre at 11.90 g/t;
- 4 metres at 1.89 g/t including 1-metre at 4.08 g/t;
- 1.5 metres at 6.18 g/t including 0.5 metres at 15.35 g/t and;
- 1-metre at 8.79 g/t.
Survey timeline
➢ January 2022 – Completion of the DDIP Survey;
➢ February 2022 – Outcomes and results from the DDIP Survey; and
➢ February 2022 – March 2022 - Commence discovery drill program at Horn Island.