Alice Queen Ltd (ASX:AQX) has raised $1.3 million, triggering the issue of roughly 162,525,000 shares at $0.008 each.
The advanced gold and copper explorer will use the funds for:
- Exploration drilling at Horn Island
- Working capital
“We are very pleased with this result and take the opportunity to thank all the new and existing shareholders for their support and welcome them to the Alice Queen Register,” Alice Queen managing director Andrew Buxton said.
“With the current IP survey at Horn Island nearing completion, we are looking forward to getting the drill bit spinning in February.”
Just last week, AQX’s dipole dipole induced polarisation (DDIP) survey at the Horn Island Gold Project in the Torres Strait, Queensland, indicated an open, large-scale chargeability anomaly (Jedha-1) with a strike length greater than 1.4 kilometres.
Read: Alice Queen's survey at Horn Island indicates 1.4-kilometre IP anomaly associated with surface gold