PERTH (miningweekly.com) – ASX-listed junior Alice Queen has reported a maiden mineral resource of 5.8-million tonnes for its flagship Horn Island gold project, in Queensland.
Grading 2.01 g/t gold, the project is estimated to host some 375 000 oz of gold.
“This is a very significant milestone for the company. For the first time in the five years that we have been working on the Horn Island gold project, we now have a tangible resource which we expect will grow over time,” Alice Queen MD Andrew Buxton said on Tuesday.
“To this end, the exploration team is quickly moving to commence the Phase 2 drilling, which if things go well will see us test the remaining balance of the current exploration target by Christmas.”
Meanwhile, a concept study is also under way on an openpit mining operation at Horn Island.