Gold and copper explorer Alice Queen (ASX:AQX) has filed an application for a Collaborative Exploration Initiative (CEI) for a critical minerals grant from the Queensland government to drill test copper targets at the Horn Island Project.
The company says recent drill results from the Southern Silicified Ridge (SSR) prospect indicate a broad zone of copper is emerging northeast and southeast of the SSR. As a result, Alice Queen is seeking a maximum of $250,000 in round 7 of the CEI grants to test up to 500m below this copper zone.
It also notes the ‘highest grade’ copper was intercepted at depth, suggesting that enrichment may be strengthening towards a potential source that is driving mineralisation.
‘Significant’ copper intersections returned from recent drilling include hole 22NGD108 with 1m @ 0.1% copper (Cu) from 161m, and 1m @ 3% Cu from 173m; as well as 22NGD106 with 1m @ 0.3% Cu from 69m.
“The emergence of copper at Horn Island is very exciting given copper’s importance as a critical mineral”
Commenting on the copper find, Alice Queen Managing Director Andrew Buxton says: “The emergence of copper at Horn Island is very exciting given copper’s importance as a critical mineral. Further, Horn Island’s eligibility for the Queensland CEI grants allow us to pursue the grant to drill test if copper strengthens at depth at the SSR.”
Alice Queen reports the SSC is a surface expression of more than 5km with associated induced polarisation (IP) anomalies, and is primarily a gold target. However, it also states the emerging copper zone identified warrants further targeted drilling to test for strengthening copper at depth.
The Queensland Government CEI round 7 for 2023 is administered through the Geological Survey of Queensland (GSQ) via the Queensland Department of Resources. Under this scheme, grants of up to $250,000 are awarded with the aim of discovering critical minerals such as copper.
The company says round 7 of this funding is no longer restricted to the Northeast and Northwest mineral regions, and as a result, Horn Island is now eligible for the grant.
Alice Queen is an Australian minerals exploration company with a portfolio of copper–gold projects across Australia and Fiji. These projects include Horn Island located in the Torres Strait in Queensland. It also holds the Boda East, Mendooran, and Yarindury projects in the central west region of New South Wales, as well as 2 prospecting licences in Fiji.
Images: Alice Queen Ltd
