Alice Queen Ltd (ASX:AQX) has completed the dipole dipole induced polarisation (DDIP) survey at its Horn Island Gold Project in Torres Strait, Queensland.
Data from the previous DDIP survey, completed in early 2020 of 7.5 square kilometres, is to be merged to create a single survey data set.
The fully merged data set is currently being reviewed, with results and target generation expected within two to three weeks.
A diamond core drill rig remains at site, with the company planning to commence exploration drilling late in February.
Host multiple deposits
Alice Queen managing director Andrew Buxton said: “The Horn Island hydrothermal footprint measures over ~35 square kilometres.
“Given its sheer size and the metals that have been sampled across it, including gold, combined with the emerging geophysical anomaly, significantly increases our confidence that Horn Island will host multiple deposits and ultimately represent a multi-million-ounce proposition.
“Our 2022 exploration strategy at Horn Island remains focused on making new gold discoveries.
“The entire Alice Queen team is now working hard to complete the necessary geophysical review, target generation and drill site preparations to commence exploration drilling as soon as possible.”
Results
Interim results from the first half of the recently completed survey area indicate an open, large-scale DDIP chargeability anomaly (Jedha-1) with a strike length greater than 1.4 kilometres emerging at the Southern Silicified Ridge (SSR) prospect that remains open to the SE.
The merged DDIP survey areas, cover almost half of the known ~35 square kilometres hydrothermal footprint.