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- Alice Queen (AQX) has received results from the first diamond hole at its Boda East Project in the Lachlan Fold Belt of New South Wales
- The company began drilling in late July to test whether mineralisation from Alkane Resources’ Boda discovery extends into the Boda East area
- The latest results account for the upper 480 metres of the first hole and include one metre at 0.62 per cent copper and 0.13g/t gold from 435 metres
- Assays are pending for the remaining portion of the hole but Alice Queen doesn’t expect it to yield any significant results
- Four holes for 3263 metres have been completed and the fifth hole is underway
- Company shares are down 27.9 per cent and trading for 3.1 cents
Alice Queen (AQX) has received results from the first diamond drilling at its Boda East Project in the Lachlan Fold Belt of New South Wales.
Boda East is situated 700 metres east of Alkane Resources’ (ALK) Boda porphyry gold-copper discovery.
The company began drilling at Boda East in late July. Since then, four deep diamond holes have been drilled for around 3263 metres and the fifth is currently underway.
Drilling is aimed at testing whether the mineralisation from Alkane’s Boda discovery extends into the Boda East area.
Results have been returned from the upper 480 metres of the first hole of the program.
Best intercepts include one metre at 0.9 per cent copper and 0.07g/t gold from 326 metres and one metre at 0.62 per cent copper and 0.13g/t gold from 435 metres.
“The intersection of calc-potassic altered shoshonitic volcanics with significant copper-gold mineralization is a positive indication that Boda East hosts part of a large Macquarie Arc porphyry system currently known best from the Kaiser and Boda prospect areas being drilled by Alkane Resources less than 2km to the west,” Chief Technical Advisor John Holliday said.
Assays are pending for the remaining portion of the hole which spans between 480 and 560 metres, however, the company doesn’t expect it to yield any significant results.
Company shares are down 27.9 per cent and trading for 3.1 cents.
