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Alice Queen (ASX:AQX) - Managing Director, Andrew Buxton
Managing Director, Andrew Buxton
Sourced: Hot Copper
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  • Alice Queen (AQX) has been granted a positive determination for the Review of Environmental Factors (REF) at its Mendooran prospect
  • The company can now progress its strategy to explore eight large-scale untested gold-copper sites in the Goonoo Goonoo State Conservation Area
  • The eight sites showing promise for copper-gold mineralisation in the Molong Volcanic Belt have never been drilled at depth
  • The $200,000 New Frontiers Co-operative Drilling Grants from the NSW government is a significant leg-up in AQX’s efforts to explore Mendooran
  • Alice Queen is up 2.7 per cent on the market today, with shares trading for 1.9 cents each

Alice Queen (AQX) has been granted a positive determination for the Review of Environmental Factors (REF) at its Mendooran prospect.

The company can now move forward with its strategy to explore eight large-scale, untested gold-copper sites in the Goonoo Goonoo State Conservation Area.

The gold and copper explorer has already spent $1 million on target generation and access for Mendooran. The eight sites showing promise for copper-gold mineralisation in the Molong Volcanic Belt have never been drilled at depth, but with the go-ahead from the NSW National Parks and Wildlife Service, the company can now proceed with further exploration.

Alice Queen Managing Director Andrew Buxton says the company is making efficient progress at Mendooran.

“We are very excited to have, in short succession, granted monies towards our Mendooran program in the Goonoo Goonoo State Conservation Area and receiving a positive determination for the work we undertook for the REF.

“Mendooran is an important part of our Northern Molong Projects that we have expended in excess of $1 million on target generation and access.

“We have eight large-scale copper-gold porphyry targets within Mendooran that have never been drill tested, within a district that is increasingly proving itself to be fertile.”

AQX Managing Director Andrew Buxton

While the true promise of the targets remains to be explored, the fast pace of permitting and exploration to date bodes well for potential development at the site.

The $200,000 New Frontiers Co-operative Drilling Grants from the NSW government will also provide a significant leg-up in AQX’s efforts to explore Mendooran.

Alice Queen says it’s now “moving forward to finalise access” at the site. If the remaining permitting and access requirements can move at the same quick pace as the REF, the company could have some more good news to report in the not-too-distant future.

Alice Queen is up 2.7 per cent on the market today, with shares trading for 1.9 cents each as at 11:51 pm AEST.

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