Alice Queen Limited

Alice Queen Commences Viani Exploration, Fiji

Gold and copper explorer, Alice Queen Limited (ASX:AQX) (“Alice Queen” or the “Company”), is pleased to provide an update regarding exploration at its 100% owned Viani (SPL1513) Project, located on the Pacific Rim of Fire in Vanua Levu, Fiji.


Highlights

  • Review of historical data indicates presence of a potentially large epithermal system at the Viani Project
  • >5km trending gold & associated pathfinder soil anomaly identified at the Dakuniba Prospect
  • Limited historical 6-hole drill program returned encouraging gold assay intercepts across a 700m trend which remains open
  • Best historic drill gold assay intercept results include:
    • 2.2 m 11.3 g/t from 121.45 m incl. 0.6m at 27.6 g/t from 122.75 m (MJFV-5)
  • Best historical trench sampling results include:
    • 5.0m @ 4.27 g/t Au and 104.3 g/t Ag (Trench #29)
    • 3.7m @ 4.9 g/t and 15.2 g/t Ag (Trench #32)
    • 8m @ 1.89 g/t Au and 6.25 g/t Ag (Trench #27)
  • Preliminary field reconnaissance work recently completed by the Company has identified outcropping hydrothermal alteration & epithermal style veins with chip sampling returning up to 4.6g/t Au
  • Historic molybdenum-bismuth-tellurium (Mo-Bi-Te) stream sediment anomaly (~2.3 km2) with coincidental deep ZTEM anomaly in east area of project represents a potential porphyry-style target
  • New field program including surface sampling now underway and will be reported in due course.
Alice Queen’s Managing Director, Andrew Buxton said,

We are very pleased to properly introduce Viani to our shareholders as one of our key exploration assets after the many years of effort undertaken by the Company to review and secure the project. We believe that Viani may host a major epithermal system that has been overlooked by previous explorers and we are excited to be commencing exploration on site and look forward to reporting regularly on our activities on the ground.

Review of the Viani Prospect

The Company has recently reviewed all historical work and data sets completed by previous operators including Pacific Island Gold, JICA/MMAJ and Geopacific Resources (see Figure 1). This was considered an important first step in the evaluation of Viani, recognising areas of interest, and laying the grounds for optimising future field programs. By adopting this approach, Alice Queen intends to streamline field programs & accelerate towards drill target testing more effectively.


Click here for the full ASX Release

This article includes content from Alice Queen Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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