Alice Queen Appoints Adrian Hell to Lead Horn Island Gold Drilling

Alice Queen Taps Veteran Geologist to Accelerate Horn Island Gold Drilling

Alice Queen Limited (ASX: AQX) has announced a significant personnel appointment and confirmed plans to recommence drilling at its Horn Island Gold Project, located in the Torres Strait region of North Queensland. The appointment of Adrian Hell as Exploration Manager signals a clear shift into active exploration mode for a project already hosting over half a million ounces of gold in resource.

A Familiar Hand Returns to a Well-Known System

The headline appointment is Adrian Hell, who rejoins Alice Queen in the role of Exploration Manager. What makes this hire particularly noteworthy is not just his 27-plus years of experience across mineral exploration and mining — it is that Hell previously served as Exploration Manager (QLD) at Alice Queen between 2016 and 2022, directly overseeing the establishment of the Horn Island gold project.

In short, the person who arguably knows the Horn Island gold system better than anyone else is back in the driver's seat.

Hell's career profile includes:

• 27+ years of experience in mineral exploration and mining across multiple commodities and deposit types
• Track record spanning greenfields discovery through to resource development, feasibility studies, and corporate transactions
• Leadership experience in remote and high-risk environments across Australia and the Middle East and North Africa (MENA)
• Expertise in integrated geological, geochemical, and geophysical analysis for project generation
• Most recently served as Exploration Manager at Sorrento Resources, overseeing drill programmes targeting gold, copper, silver, lithium, platinum, and palladium
• Recognised for strategic problem solving, technical innovation, and team mentorship whilst maintaining industry best practice compliance

What Did the Managing Director Say?

"It is pleasing that we are moving forward with the next phase of exploration at Horn Island. With the Horn Island Exploration Target finalised, the Company plans to recommence drilling as soon as possible. The recent ET provides confidence that there are significant ounces of gold still to be discovered at Horn Island, and we are moving quickly to expand our existing resource. With Adrian Hell recently appointed as Exploration Manager, we are ready to commence the exciting job of putting some detail around the forthcoming drill program."

— Andrew Buxton, Managing Director

What Alice Queen Already Has in the Ground

Before examining where the company is heading, it is worth grounding the story in what already exists at Horn Island. The Alice Queen Horn Island gold drilling plans with Adrian Hell are built upon a solid and credible foundation.

This 524,000-ounce gold resource at a grade of 0.98 grams per tonne is the foundation from which Alice Queen is now looking to grow. The resource estimate was originally reported in the company's November 2021 announcement, with competent person Mr Dale Sims confirming that all material assumptions and technical parameters continue to apply unchanged.

Understanding the Exploration Target: Why It Matters

What Is an Exploration Target?

An Exploration Target (ET) is a range of tonnage and grade estimates for a mineralised system that has not yet been drilled sufficiently to be classified as a formal Mineral Resource. It is an informed geological estimate of what additional resource could potentially exist beyond what has already been confirmed.

Importantly, the potential quantity and grade stated in an Exploration Target is conceptual in nature — it requires further exploration before it can be converted to a Mineral Resource.

Why Does It Matter for Alice Queen Investors?

The fact that Alice Queen has recently finalised an Exploration Target at Horn Island tells investors that the geological team has identified prospective areas beyond the current 524,000-ounce resource that warrant systematic drilling. The ET effectively provides a forward-looking roadmap for resource growth.

Furthermore, when the company's Managing Director states that the ET "provides confidence that there are significant ounces of gold still to be discovered at Horn Island," he is referring to this geological framework that now underpins the upcoming drill programme.

The Drill Programme: What's Coming Next?

Alice Queen Horn Island gold drilling plans with Adrian Hell include a comprehensive multi-phase diamond core drill programme designed to extend the existing Mineral Resource Estimate. Key details of the planned programme include:

1. Up to 5,000 metres of diamond core drilling planned across the programme
2. Up to 20 drill holes across the multiple phases
3. The company is currently reviewing proposals from several exploration drilling companies
4. A detailed exploration plan is being finalised and will be released to the market shortly
5. Drilling is targeted to commence as soon as possible following programme finalisation

Diamond core drilling is considered the gold standard for resource definition work. It recovers a continuous cylindrical sample of rock that allows geologists to precisely log mineralisation, structure, and grade with high confidence. This methodology is consistent with Alice Queen's intention to expand a JORC-compliant resource.

The Horn Island Project: Location and Context

Horn Island is situated in the Torres Strait region of North Queensland, Australia — a geography that carries both logistical considerations and strategic significance as an established gold district. The project's island setting means drilling and exploration operations require careful planning and supply chain coordination.

This is precisely where Adrian Hell's existing relationships and on-the-ground experience become a tangible operational advantage. His direct involvement in establishing the project's logistical and geological framework between 2016 and 2022 means the Alice Queen Horn Island gold drilling plans with Adrian Hell are not starting from scratch — they are picking up a well-documented story with a seasoned author at the helm.

Investment Thesis: A Resource Ready to Grow

The case for following Alice Queen at this juncture rests on several converging factors:

• Established resource base: A 524,000-ounce gold resource at 0.98 g/t Au is a credible and meaningful starting point, particularly for a company of AQX's market scale
• Exploration upside is defined: The recently finalised Exploration Target provides a structured geological basis for expecting resource growth beyond the current MRE
• Experienced leadership with site-specific knowledge: Hell's return reinstates the geologist who built the resource, bringing institutional knowledge that cannot be replicated from a CV alone
• Programme ready to move: With contractor proposals under review and an exploration plan near finalisation, the timeline to drilling commencement appears short
• Transparent communication cadence: The company has committed to releasing the detailed exploration plan to the market shortly

Upcoming Catalysts to Watch

Horn Island Gold Exploration: Technical Context

What Makes a Successful Gold Exploration Programme?

Successful gold exploration relies on systematic geological understanding, strategic drill hole placement, and robust sampling protocols. At Horn Island, the existing geological framework provides substantial advantages.

Key technical factors that support exploration success include:

• Proven mineralised system: The existing 524,000-ounce resource demonstrates that significant gold mineralisation exists within the project area
• Geological continuity: Previous drilling has established the structural and geological controls on mineralisation, providing clear targets for resource expansion
• Infrastructure advantage: The project's location in an established mining region provides access to drilling contractors, assay laboratories, and logistical support
• Regulatory framework: Operating within the established Australian mining jurisdiction provides certainty around permitting and environmental compliance

What Are the Advantages of Diamond Core Drilling?

Diamond core drilling is specifically chosen for resource definition work because it provides:

• Continuous rock samples: Unlike other drilling methods, diamond core recovers a complete cylindrical sample of rock, allowing precise geological logging
• Structural information: The orientation and characteristics of geological structures can be accurately measured and recorded
• Grade continuity assessment: Geologists can observe how mineralisation varies through the rock sequence
• Metallurgical samples: High-quality samples can be selected for metallurgical testing and processing studies

Why Alice Queen Warrants Investor Attention

The convergence of a well-defined existing resource, a recently completed Exploration Target, a returning exploration manager with unmatched site-specific knowledge, and an imminent drill programme places Alice Queen at a genuine inflection point. Pre-drill resource expansion stories rarely offer this level of technical clarity.

The company is not exploring blind — it has 524,000 ounces already in the ground, geological intelligence from years of prior drilling, and a geologist who helped write that history now directing the next chapter. The upcoming exploration plan release will be the first major document investors can use to assess the scope and technical rationale of the drill programme.

Key Takeaway: Alice Queen Limited has positioned itself at the cusp of a resource expansion campaign at Horn Island, with over 524,000 ounces of gold already defined and a veteran exploration manager — who built the project — back in place to direct the next phase. With a multi-phase diamond core drill programme of up to 5,000 metres imminent, investors tracking gold resource development stories in Australia have a clearly defined catalyst sequence to follow.

Glossary of Key Terms

• JORC 2012: The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves — the industry standard for transparent and credible resource reporting in Australia
• Mineral Resource Estimate (MRE): A formal, JORC-compliant estimate of the quantity and grade of mineralisation identified at a project, prepared by a qualified competent person
• Exploration Target (ET): A range of tonnage and grade estimates for mineralisation that has potential to exist beyond the current resource, based on geological analysis. It is conceptual and requires further drilling to be converted to a Mineral Resource
• Diamond Core Drilling: A drilling technique that extracts a continuous cylindrical rock sample, enabling precise geological logging and grade analysis — the preferred method for resource definition work
• g/t Au: Grams of gold per tonne of rock — the standard measure of gold grade in resource reporting
• Greenfields Exploration: Exploration conducted in areas with no prior resource definition, as opposed to brownfields work near or around existing deposits

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