Alice Queen Ltd (ASX:AQX) has intersected high-grade epithermal gold through drilling work at its Viani project in Fiji’s Vanua Levu, picking up grades of up to 24 grams per tonne (g/t) in its maiden diamond drill hole, with zones of gold mineralisation intersected between 103.5 and 166.88 metres.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
Results from the maiden hole included 1.25 metres at 2.24 grams per tonne (g/t) of gold (Au) and 12.48 g/t of silver (Ag) from 107.9 metres, including 0.5 metres at 4.77 g/t Au and 24.8 g/t Ag in addition to 1.9 metres at 8.52 g/t Au and13.1 g/t Ag from 144.2m, including 0.7 metres at 17.6 g/t Au and 12.32 g/t Ag.
The drilling occurred at the Dakuniba prospect, and was done to test high-grade low-sulphidation epithermal gold mineralisation which has been previously mapped over a three kilometre area.
Continuity of the mineralisation here was proven by the fact that high-grade gold mineralisation found in the diamond hole 24VDD001 intersected approximately 40 metres underneath the previously drilled JICA drillhole MJVFV-5, which had intersected 2.2 metres at 11.3 g/t Au.
“While it is too early to call this a ‘discovery’, it certainly seems to me that this has all the hallmarks of one,” managing director Andrew Buxton said.
“Now that we have been able to replicate the high-grade gold hit that JICA made in the 90’s, with more than 3km of surface gold anomalism still to test within a large 200 square kilometre tenement area, and with drilling continuing on site, it feels like just a matter of time before we can claim Viani as the ‘next big thing’ in the exciting and evolving story of gold mining in Fiji.”
AQX rose on the news to trade at 0.9cps; a 12.5% jump for the miner.
Join the discussion: See what HotCopper users are saying about Alice Queen Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please clickhere.