Alice Queen Ltd (ASX:AQX) has extended an induced polarisation (IP) anomaly to more than 5 kilometres at the Horn Island Gold Project in Queensland’s Torres Strait.
The gold and copper explorer recently completed a Dipole Dipole IP survey — covering 64 line kilometres and 16 square kilometres — and confirmed the open and large, mineralised, geophysical anomaly.
Key findings
The anomaly boasts a northwest-southeast strike extent ranging greater than 3.5 kilometres and a northern strike extent of roughly 1.7 kilometres — both of which coincide with surface gold.
High concentrations of coarse gold were also returned from previously completed pan concentrate sampling, which covered multiple locations across the survey area linked to this target.
What’s more, the anomaly’s surface expression is associated with previously identified broad and complex altered stockwork vein zones.
These have reported numerous high-grade chip and channel sampling gold hits, with assays returning greater than 5 g/t gold and up to 250 g/t.
Overall, the chargeability anomaly fits within the company’s conceptual target depth window, which may represent a zone of intensifying mineralisation and therefore be a strong indicator towards the source intrusion where higher-grade gold may develop.
“An exciting step forward”
Speaking to the findings, Alice Queen managing director Andrew Buxton said the company’s strategy at Horn Island was centred on making new discoveries.
“Seeing this IP anomaly emerge over the past few weeks that is now more than 5 kilometres in extent and coincident with surface gold is an exciting step forward for Alice Queen.
“The results from the IP survey, combined with previous surface geochemistry sampling, fits our geological model of Horn Island.
“With our drill program planned to commence in February, we are one step closer to fulfilling our strategy to realise the multi-million ounce potential of Horn Island.”