ASX Announcement
17 January 2022
onlyHorn Island Close Space Drill Results
useAdvanced gold and copper explorer, Alice Queen Limited (ASX:AQX) ("Alice Queen" or the "Company") is pleased to provide final assays from the Close Space RC drill program that informed the Scoping Study for the Company's Horn Island Gold Project, located in the Torres Strait, Queensland.
Highlights
personal | ♦ Multiple high-grade gold (>5g/t Au) intercepts returned across comparable depths including | ||||||||
the following: | |||||||||
• | 7m | @ 2.3g/t Au from 28m incl. 1m @ 9.8 g/t Au from 31m (21NGRC039) | |||||||
• | 10m | @ 11.7 g/t Au from 30m incl. 4m @ 25.9 g/t Au from 36m (21NGRC045) | |||||||
• | 5m | @ 6.4 g/t Au from 30m incl. 1m @ 14.0 g/t Au from 33m (21NGRC047) | |||||||
• | 8m | @ 2.2 g/t Au from 31m incl. 3m @ 5.3 g/t Au from 34m (21NGRC055) | |||||||
• | 11m | @ 2.3 g/t Au from 27m incl. 2m @ 9.4 g/t Au from 36m (21NGRC064) | |||||||
• | 6m | @ 5.3 g/t Au from 27m incl. 1m @ 24.5 g/t Au from 27m (21NGRC065) | |||||||
• | 3m | @ 2.6 g/t Au from 20m incl. 1m @ 6.0 g/t Au from 20m (21NGRC071) | |||||||
• | 11m | @ 1.8 g/t Au from 29m incl. 1m @ 6.9 g/t Au from 32m (21NGRC080) | |||||||
• | 5m | @ 2.7 g/t Au from 25m incl. 1m @ 10.6 g/t Au from 29m (21NGRC086) | |||||||
• | 15m | @ 1.4 g/t Au from 25m incl. 3m @ 4.5 g/t Au from 37m incl. incl. 1m @ 6.1 g/t Au | |||||||
from 38m (21NGRC087) | |||||||||
• | 4m | @ 2.7 g/t Au from 26m incl. 1m @ 7.8 g/t Au from 28m (21NGRC079) | |||||||
For | |||||||||
Alice | Queen's Managing Director, Andrew Buxton said, | ||||||||
The close spaced drilling program was completed in an already well understood | |||||||||
area of the Mineral Resource and informed the recently completed Scoping Study | |||||||||
and Mineral Resource Estimate. This announcement presents the drill results in their | |||||||||
" | entirety including recently received assays for the surficial material that is subject to | " | |||||||
additional biosecurity protocols associated with the Torres Strait quarantine zone. | |||||||||
Closed Spaced RC Drilling Assay Result Summary
Final assay results from a 49-hole close spaced RC drilling program have now been returned and also include recently returned surface and near surface assays that are subject to additional biosecurity onlyprotocols. This program tested a small but well understood area of the Mineral Resource Area at its south-eastern side and this program informed the recently completed Scoping Study and Mineral Resource Estimate (MRE). Drill holes were angled and spaced at 5m intervals across 7 x drill lines and
drilled to maximum depth of 40m.
The Mineral Resource Estimate (JORC 2012, Indicated and Inferred) is reported at a > 0.4g/t Au cut off for 16.7Mt at 0.98g/t Au for a total of 524,000 ounces Au (see ASX release 11 November 2021, HORN ISLAND SCOPING STUDY AND MRE).
useSurficial assays from legacy stockpiles covering areas of close space drilling were reported in ASX release 14 January 2022, "POSITIVE GOLD RESULTS FROM STOCKPILE DRILLING AT HORN ISLAND". These results do not include those previously reported in that announcement.
personalFor
Figure 1. Location of 5m Closed Spaced RC Drilling at SE area of ~0.52 Moz Horn Island Gold
Resource.
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For personal use only
Figure 2. Drill Collar locations and significant intercepts
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Table 1 Significant Au assay intercept results (>0.5g/t Au) from 5m close spaced drilling program at the Horn Island Gold Resource.
HoleID | from | to | interval | g/t Au | Intercept Summary | |||
21NGRC039 | 2 | 6 | 4 | 1.6 | 4m | @ 1.6g/t Au from 2m | ||
only | ||||||||
incl. | 2 | 3 | 1 | 2.7 | incl. 1m @ 2.7 g/t Au fr 2m | |||
incl. | 5 | 6 | 1 | 2.4 | incl. 1m @ 2.4 g/t Au fr 5m | |||
21NGRC039 | 16 | 17 | 1 | 0.9 | 1m | @ 0.9 g/t Au from 16m | ||
21NGRC039 | 24 | 25 | 1 | 0.9 | 1m | @ 0.9 g/t Au from 24m | ||
21NGRC039 | 28 | 35 | 7 | 2.3 | 7m | @ 2.3g/t Au from 28m | ||
incl. | 31 | 32 | 1 | 9.8 | incl. 1m @ 9.8 g/t Au fr 31m | |||
21NGRC040 | 5 | 7 | 2 | 1.4 | 2m | @ 1.4g/t Au from 5m | ||
use | incl. | 6 | 7 | 1 | 2.1 | incl. 1m @ 2.1g/t Au fr 6m | ||
21NGRC040 | 13 | 14 | 1 | 2.7 | 1m | @ 2.7g/t Au from 13m | ||
21NGRC040 | 19 | 20 | 1 | 0.7 | 1m | @ 0.7g/t Au from 19m | ||
21NGRC040 | 27 | 28 | 1 | 3.4 | 1m | @ 3.4 g/t Au from 27m | ||
21NGRC040 | 36 | 37 | 1 | 0.8 | 1m | @ 0.8 g/t Au from 36m | ||
21NGRC041 | 5 | 6 | 1 | 0.6 | 1m | @ 0.6 g/t Au from 5m | ||
personal | 21NGRC041 | 10 | 12 | 2 | 1.3 | 2m | @ 1.3 g/t Au from 10m | |
21NGRC041 | 19 | 20 | 1 | 0.6 | 1m | @ 0.6 g/t Au from 19m | ||
21NGRC041 | 35 | 39 | 4 | 1.2 | 4m | @ 1.2 g/t Au from 35m | ||
incl. | 38 | 39 | 1 | 3.9 | incl. 1m @ 3.9 g/t Au fr 38m | |||
21NGRC042 | 9 | 12 | 3 | 0.8 | 3m | @ 0.8 g/t Au from 9m | ||
incl. | 11 | 12 | 1 | 1.4 | incl. 1m @ 1.4 g/t Au fr 11m | |||
21NGRC043 | 3 | 6 | 3 | 0.8 | 3m | @ 0.8 g/t Au from 3m | ||
21NGRC043 | 14 | 15 | 1 | 1.8 | 1m | @ 1.8 g/t Au from 14m | ||
21NGRC044 | 7 | 10 | 3 | 0.7 | 3m | @ 0.7 g/t Au from 7m | ||
21NGRC044 | 17 | 18 | 1 | 0.5 | 1m | @ 0.5 g/t Au from 17m | ||
21NGRC044 | 35 | 36 | 1 | 2.4 | 1m | @ 2.4 g/t Au from 35m | ||
21NGRC045 | 3 | 4 | 1 | 1.6 | 1m | @ 1.6 g/t Au from 3m | ||
21NGRC045 | 10 | 15 | 5 | 1.3 | 5m | @ 1.3 g/t Au from 10m | ||
incl. | 10 | 11 | 1 | 4.8 | incl. 1m @ 4.8 g/t Au from 10m | |||
For | 21NGRC045 | 30 | 40 | 10 | 11.7 | 10m @ 11.7 g/t Au from 30m | ||
incl. | 30 | 32 | 2 | 6.2 | incl. 2m @ 6.2 g/t Au from 30m | |||
incl. | 36 | 40 | 4 | 25.9 | incl. 4m @ 25.9 g/t Au from 36m | |||
incl.incl. | 37 | 38 | 1 | 86.7 | incl. incl. 1m @ 86.7 g/t Au from 37m | |||
21NGRC046 | 14 | 15 | 1 | 0.6 | 1m | @ 0.6 g/t Au from 14m | ||
21NGRC046 | 34 | 40 | 6 | 0.7 | 6m | @ 0.7 g/t Au from 34m | ||
incl. | 37 | 38 | 1 | 1.9 | incl. 1m @ 1.9 g/t Au from 37m | |||
21NGRC047 | 2 | 4 | 2 | 1.2 | 2m | @ 1.2 g/t Au from 2m | ||
21NGRC047 | 11 | 15 | 4 | 2.3 | 4m | @ 2.3 g/t Au from 11m | ||
incl. | 13 | 14 | 1 | 5.5 | incl. 1m @ 5.5 g/t Au from 13m | |||
| Page 4 of 10
21NGRC047 | 23 | 25 | 2 | 5.7 | 2m | @ 5.7 g/t Au from 23m | |
incl. | 23 | 24 | 1 | 10.4 | incl. 1m @ 10.4 g/t Au from 23m | ||
only | 21NGRC047 | 30 | 35 | 5 | 6.4 | 5m @ 6.4 g/t Au from 30m | |
incl. | 30 | 31 | 1 | 10.8 | incl. 1m @ 10.8 g/t Au from 30m | ||
21NGRC050 | 30 | 31 | 1 | 0.5 | 1m | @ 0.5 g/t Au from 30m | |
incl. | 33 | 34 | 1 | 14.0 | incl. 1m @ 14.0 g/t Au from 33m | ||
21NGRC048 | 16 | 34 | 18 | 0.5 | 18m @ 0.5 g/t Au from 16m | ||
incl. | 16 | 17 | 1 | 2.8 | incl. 1m @ 2.8 g/t Au from 16m | ||
21NGRC049 | 31 | 38 | 7 | 0.5 | 7m | @ 0.5 g/t Au from 31m | |
21NGRC050 | 25 | 26 | 1 | 1.0 | 1m | @ 1.0 g/t Au from 25m | |
use | 21NGRC050 | 36 | 38 | 2 | 0.6 | 2m | @ 0.6 g/t Au from 36m |
21NGRC051 | 5 | 6 | 1 | 1.7 | 1m | @ 1.7 g/t Au from 5m | |
21NGRC051 | 10 | 11 | 1 | 2.3 | 1m | @ 2.3 g/t Au from 10m | |
21NGRC052 | 6 | 8 | 2 | 1.0 | 2m | @ 1.0 g/t Au from 6m | |
21NGRC052 | 12 | 13 | 1 | 1.6 | 1m | @ 1.6 g/t Au from 12m | |
21NGRC052 | 30 | 31 | 1 | 2.9 | 1m | @ 2.9 g/t Au from 30m | |
personal | 21NGRC053 | 7 | 13 | 6 | 0.5 | 6m | @ 0.5 g/t Au from 7m |
21NGRC053 | 33 | 34 | 1 | 6.8 | 1m | @ 6.8 g/t Au from 33m | |
21NGRC054 | 38 | 40 | 2 | 0.9 | 2m | @ 0.9 g/t Au from 38m | |
21NGRC055 | 1 | 2 | 1 | 1.5 | 1m | @ 1.5 g/t Au from 38m | |
21NGRC055 | 8 | 9 | 1 | 1.6 | 1m | @ 1.6 g/t Au from 8m | |
21NGRC055 | 14 | 16 | 2 | 1.2 | 2m | @ 1.2 g/t Au from 14m | |
21NGRC055 | 31 | 39 | 8 | 2.2 | 8m @ 2.2 g/t Au from 31m | ||
incl. | 34 | 37 | 3 | 5.3 | incl. 3m @ 5.3 g/t Au from 34m | ||
21NGRC056 | 10 | 11 | 1 | 0.6 | 1m | @ 0.6 g/t Au from 10m | |
21NGRC056 | 26 | 27 | 1 | 0.9 | 1m | @ 0.9 g/t Au from 26m | |
21NGRC056 | 38 | 39 | 1 | 1.4 | 1m | @ 1.4 g/t Au from 38m | |
21NGRC057 | 1 | 2 | 1 | 0.6 | 1m | @ 0.6 g/t Au from 1m | |
21NGRC057 | 5 | 6 | 1 | 1.2 | 1m | @ 1.2 g/t Au from 5m | |
21NGRC057 | 20 | 21 | 1 | 1.1 | 1m | @ 1.1 g/t Au from 20m | |
For | 21NGRC057 | 34 | 36 | 2 | 0.9 | 2m | @ 0.9 g/t Au from 34m |
21NGRC058 | 5 | 6 | 1 | 0.9 | 1m | @ 0.9 g/t Au from 5m | |
21NGRC058 | 9 | 11 | 2 | 1.9 | 2m | @ 1.9 g/t Au from 9m | |
21NGRC058 | 21 | 22 | 1 | 0.8 | 1m | @ 0.8 g/t Au from 21m | |
21NGRC059 | 4 | 5 | 1 | 1.3 | 1m | @ 1.3 g/t Au from 4m | |
21NGRC059 | 9 | 14 | 5 | 1.0 | 5m | @ 1.0 g/t Au from 9m | |
incl. | 12 | 13 | 1 | 2.3 | incl. 1m @ 2.3 g/t Au from 12m | ||
21NGRC060 | 3 | 8 | 5 | 1.5 | 5m | @ 1.5 g/t Au from 3m | |
incl. | 5 | 6 | 1 | 3.7 | incl. 1m @ 3.7 g/t Au from 5m | ||
21NGRC060 | 11 | 12 | 1 | 0.7 | 1m | @ 0.7 g/t Au from 11m | |
21NGRC060 | 15 | 16 | 1 | 3.6 | 1m | @ 3.6 g/t Au from 15m | |
21NGRC060 | 35 | 36 | 1 | 3.5 | 1m | @ 3.5 g/t Au from 35m | |
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Alice Queen Ltd. published this content on 16 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 January 2022 23:24:05 UTC.