USD $4,127.96
Goldman Multi-phase program will test resource extensions and newly defined exploration target areas
Alice Queen Limited (ASX:AQX) has mobilised a dual-purpose reverse-circulation and diamond drill rig to its Horn Island Gold Project in Queensland’s Torres Strait.
Drill pads have been prepared for the multi-phase campaign, which will test continuity along the interpreted northwest structural trend from the current resource, southern down-dip extensions, shallow northeastern zones and potential high-grade continuity within and beyond the resource area.
Horn Island has a JORC 2012 Mineral Resource Estimate of 21.1 million tonnes at 0.84g/t gold for 569,000 ounces.
Alice Queen said the drilling is running alongside development work after the release of its Project Definition Study and as it progresses towards a Pre-Feasibility Study.
Alice Queen Managing Director Andrew Buxton:
It is a significant moment for Alice Queen to have a rig back on the ground at Horn Island for the first time in several years. With the rig now mobilised, we are ready to begin a program aimed at growing the Horn Island resource and investigating new areas of our project tenure. This drilling runs in parallel with our development work, coming soon after releasing the Project Definition Study and as we progress towards delivering the Pre-Feasibility Study. Horn Island holds considerable potential and, in the current strong gold price environment, there’s no better time to be drilling to realise it.
