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Alice Queen Ltd.
Summary
| Project: | Ngurupai (Horn Island) | |
|---|---|---|
| Deposit: | Pioneer Lode | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/19/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 19-8-2016: Alice Queen Ltd. announces a Resource Estimation report for its Pioneer Lode deposit at the Ngurupai (Horn Island) project. Exploration target range establish for Pioneer Lode at Horn Island. Alice Queen Limited (“Alice Queen” or ‘the Company”) | |
| Resources: | Exploration target: 1.0 - 3.7Mt @ 1.6 - 2.4g/t Au at Pioneer Lode | |
| CP/QP: | [Overall Report]: Brian Kay, Richard Buerger (Not stated;Mining Plus Consulting Pty Ltd.) | |
| ABSTRACT: | Alice Queen Limited (“Alice Queen” or ‘the Company”) is pleased to provide an update on recent investigations made into the viability of a small scale open pit mining operation at its flagship Horn Island Gold Project (“Horn Island”) located in the Torres Strait, Queensland. These investigations had been undertaken as part of the follow up work from the Phase 1 drilling program completed in and around the historic pit at Horn Island. This work forms part of a broader continuing exploration program of Horn Island which has included an extensive regional sampling and mapping program (results due in the coming weeks), laser ablation assessment complete at the bottom of hole 1 (results due in the coming weeks) and the identification of a number of drill targets at the Southern Silicified Ridge (SSR) which lies south west of the historic pit. The initial assessment of the possibility of a small scale operation was completed by Mining Plus and the report generated from this work is appended to this release. As stated in the ASX release of 24th June 2016, Alice Queen engaged Mining Plus to complete a geological and structural modelling exercise to quantify the potential exploration target that may be developed at the Pioneer Lode which is situated in the immediate area of the abandoned Horn Island open pit gold mine. Mining plus reviewed all available data from the project to focus on the most prospective areas to drive further exploration. The Phase 1 drillholes completed in late 2015/2016 provided data of the highest confidence and enabled delineation of the Pioneer Lode as well as affirming high grade at shallow depths beneath the Welcome Pit. | |
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