Advanced gold explorer Alice Queen (ASX: AQX) has announced its 84.5%-owned subsidiary, Kauraru Gold Pty Ltd, has entered into an earn-in and joint venture agreement with St Barbara Limited (ASX: SBM) for its Horn Island Gold Project, located in the Torres Strait in far-north Queensland. Under the terms of the deal, St Barbara has the right to earn a 70% interest in the Horn Island Project (other than identified Excluded Zones) by sole funding expenditure of $4 million within 3 years. Alice Queen will retain the right to continue pursuing exploration activities on Horn Island through to BFS in the Excluded Zones.
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