Alice Queen Limited (ASX:AQX) Intersects High-Grade Gold in Maiden Drill Hole
High-Grade Gold Intersected in Maiden Drill Hole
Alice Queen Limited (ASX:AQX) announced that its maiden drill hole, 24VDD001, at the Viani Project in Fiji intersected high-grade epithermal gold mineralisation. The drill hole intercepted several zones of gold mineralisation from 103.5m to 166.88m, including 1.25m @ 2.24 g/t Au & 12.48 g/t Ag and 1.9m @ 8.52 g/t Au & 13.1 g/t Ag. Notably, it included 0.7m @ 17.6 g/t Au & 12.32 g/t Ag, confirming the continuity of high-grade gold mineralisation below the previously drilled JICA drillhole MJVFV-5.
Geological Interpretation and Future Drilling
The gold mineralisation is associated with steeply dipping epithermal quartz veins and sericite clay alteration. A second drillhole, 25VDD002, has been completed, intersecting similar quartz veining with assay results pending, while a third hole, 25VDD003, is in progress to test deeper levels. The geological interpretation suggests that the high-grade mineralisation is sourced from deeper levels in the epithermal system.
Executive Comments
Alice Queen’s Managing Director, Andrew Buxton, stated, “While it is too early to call this a ‘discovery’, it certainly seems to me that this has all the hallmarks of one. Now that we have been able to replicate the high grade gold hit that JICA made in the 90’s, with more than 3km of surface gold anomalism still to test within a large 200km tenement area, and with drilling continuing on site, it feels like just a matter time before we can claim Viani as the ‘next big thing’ in the exciting and evolving story of gold mining in Fiji.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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