Metal zonation mapping further strengthens Horn Island as a large-scale gold project: Alice Queen

Metal zonation mapping further strengthens Horn Island as a large-scale gold project: Alice Queen

Advanced gold explorer Alice Queen Limited (ASX: AQX) has provided a summary report from recently completed soils sampling and a review of its multi-element geochemical database by leading North Queensland gold consultant, Dr Gregg Morrison, which has further strengthened Horn Island as a prospective large scale gold project.


Advanced gold explorer Alice Queen Limited (ASX: AQX) has provided a summary report from recently completed soils sampling and a review of its multi-element geochemical database by leading North Queensland gold consultant, Dr Gregg Morrison, which has further strengthened Horn Island as a prospective large scale gold project.

Alice Queen's Horn Island gold project is located in the Torres Strait, Queensland.

HIGHLIGHTS

·       Two discrete hydrothermal systems are now recognised across Horn Island:

·       A younger (~310Ma) gold-antimony-lead-zinc-arsenic system controlled by structures; and

·       An older (~340Ma) tin-tungsten-molybdenum system, controlled by the host granite.

·       The new soil geochemical survey reveals the gold system surface footprint covers the majority of Horn Island (approximately 53km2) and includes multiple gold mineralized structures;

·       Two new gold target areas have been identified at Naboo North and Horned Hill in addition to the previously established gold targets at Horn Island Pit-Naboo, Cable Bay and SSR and signifies another positive development for the project;

·       SSR gold target area now significantly extended across a NW strike for approximately 7km, which is consistent with a large geophysical de-magnetised zone;

·       Identification of a newly defined 3km gold target zone extending from the Horn Island gold deposit across to the newly defined Naboo prospect, which is also consistent with a large geophysical de-magnetised zone;

·       The gold system footprint at Horn Island potentially extends into the Kaiwalagal project areas with special interest focused towards Prince of Wales Island;

·       There is a consistent metal zoning pattern for each of the gold-mineralised structures with peripheral manganese barium (Mn-Ba) going into antimony arsenic (Sb-As), lead-zinc (Pb-Zn) and a deeper core of copper-bismuth-tellurium (Cu-Bi-Te). The gold (Au) and silver (Ag) mineralised envelope is in the Sb-As and Pb-Zn zones with the best Au ore in the Pb-Zn zone. The extension of Au mineralisation into the Cu-Bi-Te zone is essentially untested;

·       Metal zonation 3D modelling from drill hole data confirms the geometry and likely extensions of the near surface gold envelope at the Horn Island gold deposit (~0.5Moz gold) and SSR. This best summarised as follows:

·       Horn Island gold deposit has the As zone at surface and best Au in the Pb zone in the drilling with a shallow plunging Au mineralised envelope that is open down plunge to the SW and along strike to the NW;

·       SSR gold zone has Sb at surface and best Au with Pb in drilling and is a vertical structure open at depth and along strike to the NW and SW; and

·       The other prospects have similar metal zoning patterns that allow the most favorable gold zone to be targeted.

Alice Queen Managing Director Andrew Buxton, commented: “This work by Dr Morrison confirms the significant potential of the Horn Island project.

"The metal zoning patterns indicate that the gold system footprint extends across most of Horn Island, that the two main gold structures have kilometre-scale extensions and that both structures have only been tested in their shallow parts.

"The report also reinforces the studies completed in 2018 by Ben McCormack and Scott Halley that indicated the most significant potential at Horn Island lies at depth.

"With a surface footprint that now appears almost the same size as the seven million ounce Ravenswood system, we have never been more excited by our prospects at Horn Island.”

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