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Alice Queen (ASX:AQX) - Managing Director, Andy Buxton
Managing Director, Andy Buxton
Source: The Market Herald
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  • Alice Queen (AQX) has commenced a rotary-diamond drilling program at its Yarindury Project in New South Wales
  • 2800 metres will be drilled across the Bullaburra, Woodlands, Forest View, and Boda East anomalies
  • Drilling is expected to be completed by early August and assays will be released shortly after
  • Company shares are up 10 per cent and trading for 3.3 cents each

Alice Queen (AQX) has commenced drilling at its Yarindury Project, which is located on the copper-gold Northern Molong Volcanic Belt in New South Wales.

A nine-hole drilling program was conducted late last year at the Yarindury Project. Drilling showed encouraging signs of porphyry copper-gold systems which the latest drilling program will follow-up on.

The 2800 metre mud rotary-diamond drilling program is expected to be completed in early August, with assay results and petrography to be released shortly after.

The drilling program will test four anomalies, including Bullaburra, Woodlands, Forest View, and Boda East.

“We are very excited to be drilling again in the region to test these quality targets in such a highly prospective district so soon after reporting our final results from our first program at Yarindury,” Managing Director Andrew Buxton said.

Bullaburra

Bullaburra is a prominent elliptical magnetic anomaly, with four-kilometre by two-kilometre dimensions in plan and a deep residual magnetic signal.

Alice Queen will drill two vertical mud rotary-diamond holes to test the core of this significant anomaly.

Woodlands

Woodlands is a complex magnetic anomaly, which is believed to continue the Comobella Intrusive Suite to the north.

Drilling in the last program intersected distal skarnoid and chalcopyrite mineralisation, a suite of mafic to intermediate intrusions, as well as a Late Ordovician monzonite.

One hole was drilled to 312.6 metres and displayed encouraging alteration and mineralisation at the very bottom. This hole will be extended during the new drilling program.

Additionally, an angled, southwest directed hole is also planned to test across the magnetic strike of the anomaly.

Forest View

The Forest View anomaly is a single 800-metre by 400-metre magnetic high, which is interpreted to sit on a five kilometre-long north-northwest striking structure.

A single vertical drill hole was drilled to 414.6 metres to test the basement anomaly, however, it did not reach the target anomaly.

The company is planning to extend the hole by a further 200 metres to investigate the source of the basement.

Boda East

The Boda East anomaly is the northern extension of the Boda magnetic complex. Alkane’s Boda Prospect lies within the magnetic complex and is just 750 metres west of the Yarindury tenement boundary.

After testing the Bullaburra, Woodlands and Forest View anomalies, the drilling rig will move to Boda East, where two 600 metre-long west-dipping diamond holes are planned to test Ordovician basement for copper-gold mineralisation.

Company shares are up 10 per cent and trading for 3.3 cents each at 12:46 pm AEST.

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