Alice Queen (ASX:AQX) - Managing Director, Andrew Buxton
Managing Director, Andrew Buxton
Source: Alice Queen
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  • Alice Queen (AQX) identifies visible gold at the Southern Silicified Ridge (SSR) prospect within its Horn Island gold project in Queensland
  • Visual observations from the first two holes at the Jedha 1 target encountered varying degrees of mineralisation in fine stockwork, breccia or banded and veining intervals
  • The veins range in thickness from a few millimetres to 250 millimetres and mineralisation varies from trace percentages to semi-massive and massive textures
  • Laboratory assays are required to determine the grade and width of the mineralisation with results expected in around four weeks
  • Alice Queen is up 11.1 per cent on the market with shares trading at 0.5 cents

Alice Queen (AQX) has identified visible gold at the Southern Silicified Ridge (SSR) prospect within its Horn Island gold project in Queensland.

To date, two diamond core holes, for around 700 metres, have been drilled at the Jedha 1 target and a third hole is currently in progress.

Visual observations from the first two holes have encountered varying degrees of mineralisation in fine stockwork, breccia or banded and veining intervals.

The veins range in thickness from a few millimetres to 250 millimetres and occur in broad clusters.

Mineralisation in the veins varies from trace percentages to semi-massive and massive textures.

Laboratory assays are required to determine the grade and width of the mineralisation with results expected in around four weeks.

The third diamond hole is expected to be drilled in roughly 14 days and a fourth hole has been planned and will be drilled following the laboratory results.

“Whilst we know visible gold in the drill core may not always translate into high gold grades, we are very encouraged to be seeing it,” Managing Director Andrew Buxton said.

“The current holes described in this announcement are close enough to the previous drilling at the SSR, that have yielded some great intercepts, and far enough away from our existing 500,000-ounce gold resource to make us believe that we have significant highly prospective strike extent still to test and that our next hurdle of achieving one million ounces in resources is well within our reach.”

Alice Queen was up 11.1 per cent on the market with shares trading at 0.5 cents at 11:23 am AEST.

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