Alice Queen Ltd Gold Discovery at Viani Reveals High-Grade System

Alice Queen Strikes High-Grade Gold at Viani: New Discovery Zone Confirms 5km Epithermal System Potential

Alice Queen Limited (ASX:AQX) has delivered impressive new high-grade gold results from its 100%-owned Viani epithermal gold project in Fiji, with trench sampling revealing a significant new gold zone at the Tabua's Camp prospect. Furthermore, the latest results demonstrate the expanding scale and grade potential of what is emerging as a substantial epithermal gold system with 5km of strike length that remains open in multiple directions.

The company's systematic surface exploration programme has identified high-grade gold mineralisation approximately 400 metres east of previous drilling locations. The standout intersections include 4m @ 10.91 g/t Au (including 1m @ 26.06 g/t Au) from Trench 41c, demonstrating the exceptional potential of the Alice Queen Ltd gold discovery at Viani.

These results align perfectly with previous drilling that returned exceptional grades up to 26.4 g/t Au, confirming the continuity and tenor of the gold system. Additionally, the consistency between surface and depth results strengthens confidence in the mineralised system's extent.

"With the high-grade epithermal gold system evolving to over a 5km strike and remaining open, it is very encouraging that low-cost surface work and trenching is proving to be a valuable tool in identifying new high-grade gold zones to be tested at depth," noted Andrew Buxton, Managing Director.

New High-Grade Zone Extends Mineralised Footprint

The Tabua's Camp prospect has emerged as a priority target following the completion of ten additional trenches across 284 metres of excavator trenching to bedrock. Importantly, three parallel trenches over 40 metres of strike returned exceptional high-grade gold results that reinforce the Alice Queen Ltd gold discovery at Viani narrative.

Key Intersections from Tabua's Camp

The recent trench programme has yielded outstanding results that validate the project's potential:

• Trench 41c: 4m @ 10.91 g/t Au including 1m @ 26.06 g/t Au
• Trench VT001: 2m @ 13.69 g/t Au including 1m @ 26.83 g/t Au
• Trench VT006: 3m @ 6.62 g/t Au including 1m @ 16.63 g/t Au

The high-grade mineralisation is associated with brecciated, silicified quartz veining that extends over 40 metres in outcrop with continuity demonstrated over 250 metres along strike. Moreover, the strike and dip orientation of this new zone is consistent with the high-grade intersections from recent drilling, suggesting structural continuity at depth.

Additional Lower-Grade Zone Identified

The trench programme also exposed a secondary mineralised structure approximately 25 metres south of the high-grade zone. This zone returned anomalous gold values including:

• Trench VT002: 4m @ 0.69 g/t Au
• Trench 41c: 1m @ 1.2 g/t Au
• Trench 40c: 1m @ 1.64 g/t Au

This southerly-dipping structure has not been tested by previous drilling and represents an additional target for depth testing as part of the evolving Alice Queen Ltd gold discovery at Viani programme.

Understanding Epithermal Gold Systems

What is a Low-Sulphidation Epithermal (LSE) Gold System?

Epithermal gold deposits form in shallow crustal environments from hot, mineral-rich fluids associated with volcanic activity. These systems develop when hot water carrying dissolved metals rises through rock fractures and cools near the surface, depositing gold and other minerals in veins and surrounding rocks.

Low-sulphidation epithermal systems are characterised by their potential to host very high-grade gold mineralisation in discrete shoots within broader vein systems. Consequently, they represent some of the most attractive exploration targets globally.

Why This Matters to Investors

Several factors make LSE systems particularly attractive for investors:

• LSE systems can contain multiple high-grade gold shoots along extensive strike lengths
• They often exhibit excellent grade continuity at depth
• Famous examples include Nevada's Comstock Lode and New Zealand's Martha Mine
• The 5km strike extent at Viani suggests significant discovery potential across multiple zones

Key Indicators at Viani

The Viani project displays classic LSE system characteristics:

• Brecciated quartz veining with silicification (rock fragments cemented together by silica)
• Au:Ag ratios >1:1 indicating high gold bias
• Pathfinder elements (Pb-As) consistent with LSE systems
• Multiple phases of silica deposition suggesting sustained hydrothermal activity

Drilling Confirms Depth Continuity

Previous drilling at Viani has demonstrated that high-grade gold mineralisation extends to significant depths, with the first two holes intersecting exceptional grades. For instance, 25VDD002 returned up to 26.4 g/t Au, whilst 24VDD001 yielded up to 17.6 g/t Au.

These intersections confirmed depth continuity up to 175 metres below surface, providing confidence that the newly identified Tabua's Camp zone will also extend to depth. The similar geochemical signatures between surface trenching and drill core results support this interpretation and strengthen the Alice Queen Ltd gold discovery at Viani potential.

Comparative Results Summary

The following table illustrates the consistency of results across different areas and sampling methods:

Forward Exploration Strategy

Alice Queen has outlined a comprehensive exploration programme designed to identify additional high-grade gold shoots along the 5km mineralised corridor. The strategy focuses on systematic testing of the most prospective areas whilst maintaining cost discipline.

Immediate Priorities

The company has identified several key priorities for the coming months:

1. Deep drilling at Tabua's Camp to test depth extent of high-grade zone
2. Dakuniba East area testing based on stream sediment anomalies
3. Western Extensions follow-up on pronounced Au-Ag-Sb-Ba-Pb pathfinder signature

Planned Activities

The exploration programme will encompass multiple techniques to maximise discovery potential:

• Geological mapping across the 5km strike length
• Ground magnetics and CSAMT geophysics for structural interpretation
• Continued surface geochemical sampling including trenching, soils, and rock chips
• Target generation for systematic drill testing

The company's technical advisor, Patrick Creenaune, brings over 40 years of experience including involvement in the discovery of the Cracow epithermal gold deposit in Queensland. This expertise provides valuable guidance for the Alice Queen Ltd gold discovery at Viani programme development.

Investment Thesis: Scale and Grade Potential

Alice Queen's Viani project is demonstrating the characteristics of a significant epithermal gold discovery with several compelling investment angles. The project combines exceptional grade potential with substantial scale indicators.

Scale Indicators

Multiple factors point to the significant scale potential of the Viani system:

• 5km strike length with mineralisation open in multiple directions
• Multiple high-grade zones identified across the system
• Consistent geochemical signatures indicating systematic controls
• Depth continuity proven to at least 175 metres

Grade Quality

The project consistently delivers high-grade results across multiple testing methods:

• Peak grades exceeding 26 g/t Au in both drilling and surface sampling
• Continuous high-grade zones over meaningful widths (2-4 metre intersections)
• Multiple mineralised structures providing exploration upside
• Pathfinder elements indicating potential for additional discoveries

Strategic Location

Located on Vanua Levu, Fiji, the project benefits from several advantages:

• Established mining jurisdiction with supportive regulatory framework
• Proximity to existing infrastructure and mining operations
• Experienced local workforce and established supply chains
• 100% ownership providing full exposure to discovery upside

What Makes This Discovery Compelling?

The Alice Queen Ltd gold discovery at Viani represents a rare combination of high-grade results, extensive mineralisation, and proven geological continuity. Several factors distinguish this project from typical early-stage exploration plays.

The consistency of results across different sampling methods provides confidence in the geological model. Furthermore, the identification of multiple mineralised zones suggests the potential for a substantial gold system rather than isolated occurrences.

The project's location in Fiji offers additional advantages, including established mining infrastructure and a supportive regulatory environment. This reduces development risk compared to more remote or politically challenging jurisdictions.

Upcoming Catalysts and Investment Considerations

Investors should monitor several key developments that could significantly impact the project's valuation:

Near-Term Catalysts

1. Deep drilling results from Tabua's Camp high-grade zone
2. Geophysical survey completion and target identification
3. Western Extensions surface sampling results
4. Resource estimation commencement as drill database grows

Key Tracking Points

Several metrics will be crucial for assessing continued exploration success:

• Drilling results from Tabua's Camp depth testing
• Geophysical survey outcomes for additional target generation
• Resource estimation timeline as drilling database expands
• Exploration success across the 5km strike length

The convergence of multiple high-grade zones, proven depth continuity, and extensive strike potential positions Viani as a compelling exploration story in a proven epithermal gold district. Consequently, investors seeking exposure to epithermal gold exploration success should closely follow Alice Queen's progress.

Alice Queen's Viani project represents a rare combination of high-grade gold results, extensive strike length, and proven depth continuity in an established mining jurisdiction. With multiple untested zones and a 5km mineralised corridor, the project offers significant discovery leverage for investors seeking exposure to epithermal gold exploration success.

Company: Alice Queen Limited (ASX:AQX)
Project: Viani Epithermal Gold Project, Fiji
Ownership: 100%
System Type: Low-Sulphidation Epithermal Gold
Strike Length: 5km+ (open in multiple directions)

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