Alice Queen Hits Mineralisation in All 20 Horn Island Holes as Gold Assays Near
Key Takeaways
- Alice Queen completed Stage 1 RC drilling at Horn Island with 20 holes for 4,157m, and every hole intersected quartz veining, sericite alteration and sulphide mineralisation.
- Fourteen of the 20 holes (3,385m) tested the Exploration Target, with step-outs up to 600m northwest of the 569,000oz resource boundary.
- Visible gold grains up to 0.5mm were panned from 26NGRC004 at about 40m, but only three samples were panned and the observation is qualitative, not a grade.
- 3,708 samples are with ALS Townsville, with first gold assays due in about two weeks and the rest over the following 4-8 weeks.
- The assays will decide whether the geology becomes grade, and they will set priorities for follow-up drilling against the 21.1Mt @ 0.84g/t Au resource.
Stage 1 drilling completed with all 20 holes mineralised
Alice Queen (ASX: AQX) has completed Stage 1 reverse circulation (RC) drilling at the Horn Island Gold Project in Queensland, with 20 drillholes for 4,157m. Every hole intersected quartz veining, sericite alteration and sulphide mineralisation.
One caution first: the pXRF (portable X-ray fluorescence) readings and the visible gold reported are qualitative field indications only, not gold grades. Laboratory results are still pending.
The project has a JORC 2012 Mineral Resource Estimate (MRE) of 21.1Mt @ 0.84g/t Au for 569,000 ounces Au, as set out in the company’s 16 June 2026 Project Definition Study announcement. That is the benchmark this drilling is now testing.
3,708 samples have been dispatched to ALS Laboratories in Townsville. Initial gold assays are expected within about two weeks, subject to QA/QC validation, with the remaining results anticipated progressively over the following 4-8 weeks. Until those numbers arrive, you are looking at geology, not grade.
Adrian Hell, Exploration Manager
“We’re pleased to have completed Stage 1 RC drilling at Horn Island, with every hole intersecting evidence of mineralisation. This program achieved initial testing across potential higher-grade zones within the existing Mineral Resource and the broader Exploration Target, including step-out holes up to 600m from the MRE boundary…”
When big ASX news breaks, our subscribers know first
What the drilling tested
The program predominantly tested the Exploration Target northwest of the existing Mineral Resource, alongside a smaller component testing continuity of interpreted higher-grade gold trends inside it.
- Inside the Mineral Resource: 6 holes for 772m
- Outside the Mineral Resource (Exploration Target): 14 holes for 3,385m
- Total: 20 holes for 4,157m
Inside the Mineral Resource: West Pit and Pioneer Lode
The six holes targeted the historic Pioneer Lode and West Pit areas. They were designed to add information on the continuity and distribution of interpreted higher-grade gold mineralisation.
At West Pit, four holes (26NGRC003 to 26NGRC006) targeted the vicinity of historic hole 18NGD070. That earlier hole returned 7m @ 22.2g/t Au from 36m, including 1m @ 41.8g/t Au and 1m @ 67.5g/t Au, as reported on 7 May 2018. It is a historic result, not part of this program.
All four new holes intersected veining, alteration and sulphide mineralisation, with elevated pXRF pathfinder responses across an approximately 25m strike extent. Two wider mineralised zones were observed, including a shallow zone at a broadly comparable depth to the high-grade interval in 18NGD070.
Limited panning of selected drill spoil identified several visible gold grains, up to approximately 0.5mm, in a sample from about 40m downhole in 26NGRC004. Only three samples were panned, and the observation is qualitative.
If assay results are positive, an area of approximately 50m x 200m across West Pit may present a new target warranting further drill testing.
Outside the Mineral Resource: Exploration Target
The 14 holes tested the Exploration Target area south and northwest of the resource footprint, extending up to approximately 600m northwest. Selected drill fences and scissor-hole configurations tested a broad 200m-400m north-south up and down dip trend.
Preliminary interpretation suggests the mineralised and altered zones form broad, shallow-plunging trends. These show similarities in geological character and orientation to trends recognised within the existing resource area.
What did pXRF and geology show so far?
Across the holes, pXRF readings showed locally elevated arsenic, lead, zinc and copper, which are pathfinder elements (minerals that often occur alongside gold). The instrument also recorded 26 apparent gold responses, but the reliability of those for quantitative gold determination has not been established through suitable analytical validation.
How to read these indicators
pXRF is a handheld device that fires X-rays at a sample to estimate its chemistry. Pan concentrate testing involves washing a sample to concentrate heavy minerals, then checking visually for gold grains.
Neither measures grade. The decisive step is laboratory fire assay (method Au-AA26, a 50g fire assay with AAS finish, described as a total assay method for gold). The pXRF program was a proof-of-concept and equipment suitability test, with results to be compared against laboratory fire-assay results. For you, that means treating these as vectoring tools that point to where to look, not as evidence of grade.
The table below shows selected holes from the company’s Table 1. The pXRF gold values are upper-limit readings and are not grades.
| Drillhole | Vein zones | Visual sulphides | pXRF results | Visible gold |
|---|---|---|---|---|
| 26NGRC004 | 31-48m, 77-99m | Py up to 5%, Ga up to 0.5% | Pb 0.8%, Zn 1.1%, As 0.2% | Yes (40m) |
| 26NGRC009 | 125-140m, 162-252m | Py up to 20%, Ga up to 5%, AS up to 5% | Pb 1.8%, Zn 1.3% | Not Tested |
| 26NGRC014 | 85-87m | Py up to 35%, Ga up to 10% | Pb 1.1%, Zn 2.9%, Cu 0.1%, As 0.3% | Not Tested |
The company describes the observed veining, alteration, sulphides, pathfinder responses and visible gold collectively as encouraging. It says they are broadly comparable with features in the existing Horn Island Mineral Resource area.
The next major ASX story will hit our subscribers first
What does this mean for investors, and what comes next?
This program is an early test of whether the Exploration Target can add to the 569,000oz resource, and whether higher-grade zones show continuity. The geology is consistent with the existing system, but the assays will decide whether that translates into grade.
The announcement does not disclose a cash position, funding plan or any share price reaction.
Next steps outlined by the company:
- Initial gold assays are expected in approximately two weeks, subject to QA/QC validation.
- Remaining results are anticipated progressively over the following 4-8 weeks.
- Assay results will be used to assess how Stage 1 informs the Exploration Target, refine the geological interpretation and determine priority areas for potential follow-up drilling.
The announcement also notes that the Kennedy Igneous Province, in which Horn Island sits in Far North Queensland, contains 17 gold deposits with >1Moz Au. Drilling at Horn Island adds to that regional context, though only the laboratory results will show how the project compares.
Get ASX Gold News Before the Market Moves
Join 30,000+ investors receiving FREE breaking ASX mining and energy news within minutes of release, complete with in-depth analysis. Click the “Free Alerts” button at Big News Blast to get market-moving gold announcements in your inbox the moment they break.