Alice Queen (ASX:AQX) - Managing Director, Andrew Buxton
Managing Director, Andrew Buxton
Source: Alice Queen
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  • Alice Queen (AQX) says an open, 1.4-kilometre chargeability anomaly is emerging at the Horn Island gold project in Queensland
  • The Jedha 1 anomaly was found through an ongoing survey between the southwestern edge of the Horn Island resource area and the Southern Silicified Ridge (SSR) prospect
  • Preliminary modelling of the survey data suggests the anomaly can be compared to the existing Horn Island Resource IP anomaly which returned multiple gold intercepts
  • The survey is about 40 per cent through and is expected to be completed by the end of the month
  • Company shares are up 5 per cent to trade at 1.1 cents

Alice Queen (AQX) announced interim results indicate an open chargeability anomaly that spans over 1.4 kilometres at the Southern Silicified Ridge (SSR) prospect.

The SSR prospect is part of the broader Horn Island gold project in the Torres Strait, Queensland.

Alice Queen is undertaking a Dipole Dipole Induced Polarisation survey (DDIP) over an 11-kilometre area from the southwestern edge of the Horn Island mineral resource to the SSR prospect.

The company said the anomaly, dubbed the “Jedha 1” anomaly, is open but well-constrained and has a vertical target range from near-surface to greater than a 250-metre depth below surface.

Preliminary modelling of the DDIP data has reportedly indicated the Jedha-1 chargeability anomaly is highly comparable to the Horn Island Resource IP chargeability anomaly which returned multiple gold intercepts.

Surface mapping throughout the SSR prospect and directly above the Jedha-1 chargeability anomaly also defined an extensive sericite altered and veined stockwork zone that extends for three kilometres.

In addition, surface vein chip sampling above and along the trend of this anomaly revealed high-grade gold including 250 grams per tonne (g/t), 50.5 g/t, 19.5 g/t and 18.2 g/t gold.

The DDIP survey is 40 per cent complete and expected to be done by the end of the month.

Company shares were up 5 per cent to trade at 1.1 cents at 1:17 pm AEDT.

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