403
Sorry!!
Error! We're sorry, but the page you were
looking for doesn't exist.
Alice Queen Limited (ASX:AQX) High Grade Gold Zone Continuous From Surface To 175M Depth
(MENAFN- ABN Newswire) Alice Queen Limited (ASX:AQX) is pleased to announce that it has intersected high-grade epithermal gold mineralisation in its second hole, 25VDD002, at its 100% owned Viani Project in Vanua Levu, Fiji.
Highlights
- At the Dakuniba prospect, the second diamond drill hole 25VDD002 was drilled to test continuity at depth of the high-grade low-sulphidation epithermal gold mineralisation that was intersected in its maiden diamond drill hole, 24VDD001 (see ASX release, "HIGH-GRADE EPITHERMAL GOLD INTERSECTED AT VIANI").
- 25VDD002 intersected high-grade gold mineralisation and confirmed continuity of the high-grade gold zone from surface to a depth of 175m below surface (see Figure 1) with best results being.
- 4.14 metres @ 6.13 g/t Au & 9.42 g/t Ag from 195.76m including
- 0.58 metres @ 26.4 g/t Au & 39.7 g/t Ag and
- 0.80 metres @ 11.4 g/t Au & 6.52 g/t Ag.
- The high-grade gold mineralisation in 25VDD002 was intersected 80 metres below the previously drilled 24VDD001, which intersected 1.9 metres @ 8.52 g/t Au and 13.1 g/t Au, and 175 metres below surface gold bearing quartz vein outcrop.
- The high-grade gold intersected in drillholes 24VDD001 and 25VDD002 occurs within a broader zone (44 metres downhole) of anomalous gold which is hosted in intense sericite silica alteration. The mineralisation is open at depth.
- A third drill hole (25VDD003) is currently in progress testing 100m below 25VDD002.
- While the drilling program is at an early stage with only two drill holes completed, it is encouraging to intersect depth extensions to the high-grade gold mineralisation in 25VDD002. The drilling results from 25VDD002 have upgraded the potential for the Dakuniba low-sulphidation gold vein system to host economic high-grade gold ore shoots at depth and along strike.
Alice Queen's Managing Director, Andrew Buxton said
We are very excited that this demonstrates continuity of high-grade epithermal gold from surface to a depth of 175 metres, which has upgraded the prospectivity of this project. This is why epithermal gold deposits are so sought after globally...high-grade gold and continuity. Hole 3, currently drilling (pictured in Figures 1 and 4), is currently approaching the target zone. If it comes in as planned, Hole 3. could extend the vertical high-grade gold along a vertical interval of circa 275 metres. That would be significant.
Given the surface strike is greater than 3km, plans are on foot to design our next holes to test the lateral strike extent of this high-grade gold epithermal system at Viani.
Key conclusions from the high-grade gold drill results returned in 25VDD002.
- The high-grade gold intersected in 25VDD002 has extended the high-grade gold mineralisation 80 metres below previously drilled in 24VDD001. This high-grade gold mineralisation is open at depth and laterally.
- The alteration that envelops the high-grade gold is more intense and anomalous in gold.
- Clasts of banded gold mineralised chalcedonic quartz noted in quartz vein breccia associated with the high-grade gold zones in 25VDD002 are interpreted to be from a deeper or lateral source.
- The presence of high-grade gold mineralisation (greater than 10 g/t Au) in 25VDD002 and 24VDD001 is significant in targeting for potential high-grade gold ore shoots at depth.
- The Au-Ag-Sb-As-Pb-Zn multi element signature associated with the high-grade gold mineralisation supports the interpretation that the 3-5km surface Au-Ag-Sb-As-Pb-Zn soil anomaly is highly prospective for hosting extensions to high-grade gold mineralisation along strike.
The results from 25VDD002 have upgraded the potential for the >3km long Dakuniba vein zone to host high-grade LSE gold mineralisation. The style of deposit envisaged is like other LSE gold deposits such as Pajingo, Cracow and Kencana where deeper drilling discovered more than 1 Million Oz of gold in high-grade gold shoots.
Forward program
Drillhole 25VDD003 is targeted to drill ~100m below 25VDD002 and is in progress.
The next phase of the program will be designed to test for strike extensions to the mineralisation along the WNW-ESE >3km zone of veining and gold anomalism.
*To view tables and figures, please visit:
Highlights
- At the Dakuniba prospect, the second diamond drill hole 25VDD002 was drilled to test continuity at depth of the high-grade low-sulphidation epithermal gold mineralisation that was intersected in its maiden diamond drill hole, 24VDD001 (see ASX release, "HIGH-GRADE EPITHERMAL GOLD INTERSECTED AT VIANI").
- 25VDD002 intersected high-grade gold mineralisation and confirmed continuity of the high-grade gold zone from surface to a depth of 175m below surface (see Figure 1) with best results being.
- 4.14 metres @ 6.13 g/t Au & 9.42 g/t Ag from 195.76m including
- 0.58 metres @ 26.4 g/t Au & 39.7 g/t Ag and
- 0.80 metres @ 11.4 g/t Au & 6.52 g/t Ag.
- The high-grade gold mineralisation in 25VDD002 was intersected 80 metres below the previously drilled 24VDD001, which intersected 1.9 metres @ 8.52 g/t Au and 13.1 g/t Au, and 175 metres below surface gold bearing quartz vein outcrop.
- The high-grade gold intersected in drillholes 24VDD001 and 25VDD002 occurs within a broader zone (44 metres downhole) of anomalous gold which is hosted in intense sericite silica alteration. The mineralisation is open at depth.
- A third drill hole (25VDD003) is currently in progress testing 100m below 25VDD002.
- While the drilling program is at an early stage with only two drill holes completed, it is encouraging to intersect depth extensions to the high-grade gold mineralisation in 25VDD002. The drilling results from 25VDD002 have upgraded the potential for the Dakuniba low-sulphidation gold vein system to host economic high-grade gold ore shoots at depth and along strike.
Alice Queen's Managing Director, Andrew Buxton said
We are very excited that this demonstrates continuity of high-grade epithermal gold from surface to a depth of 175 metres, which has upgraded the prospectivity of this project. This is why epithermal gold deposits are so sought after globally...high-grade gold and continuity. Hole 3, currently drilling (pictured in Figures 1 and 4), is currently approaching the target zone. If it comes in as planned, Hole 3. could extend the vertical high-grade gold along a vertical interval of circa 275 metres. That would be significant.
Given the surface strike is greater than 3km, plans are on foot to design our next holes to test the lateral strike extent of this high-grade gold epithermal system at Viani.
Key conclusions from the high-grade gold drill results returned in 25VDD002.
- The high-grade gold intersected in 25VDD002 has extended the high-grade gold mineralisation 80 metres below previously drilled in 24VDD001. This high-grade gold mineralisation is open at depth and laterally.
- The alteration that envelops the high-grade gold is more intense and anomalous in gold.
- Clasts of banded gold mineralised chalcedonic quartz noted in quartz vein breccia associated with the high-grade gold zones in 25VDD002 are interpreted to be from a deeper or lateral source.
- The presence of high-grade gold mineralisation (greater than 10 g/t Au) in 25VDD002 and 24VDD001 is significant in targeting for potential high-grade gold ore shoots at depth.
- The Au-Ag-Sb-As-Pb-Zn multi element signature associated with the high-grade gold mineralisation supports the interpretation that the 3-5km surface Au-Ag-Sb-As-Pb-Zn soil anomaly is highly prospective for hosting extensions to high-grade gold mineralisation along strike.
The results from 25VDD002 have upgraded the potential for the >3km long Dakuniba vein zone to host high-grade LSE gold mineralisation. The style of deposit envisaged is like other LSE gold deposits such as Pajingo, Cracow and Kencana where deeper drilling discovered more than 1 Million Oz of gold in high-grade gold shoots.
Forward program
Drillhole 25VDD003 is targeted to drill ~100m below 25VDD002 and is in progress.
The next phase of the program will be designed to test for strike extensions to the mineralisation along the WNW-ESE >3km zone of veining and gold anomalism.
*To view tables and figures, please visit:
Alice Queen Limited ("Alice Queen") is an Australian listed public company (ASX:AQX), that is developing a number of Gold and Copper exploration and mining opportunities. Alice Queen has assembled an experienced team of mining executives with the requisite corporate and technical skills, along with a broad base of investors.
Andrew Buxton Managing Director, Alice Queen Limited +61 (0) 403 461 247 ...
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Comments
No comment