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Highlights:
Alice Queen reported a significant discovery of high-grade gold mineralization at the Viani Project in Fiji.
The discovery includes notable gold and silver intercepts, indicating extensive mineralization from surface to deeper levels.
The company is progressing with further drilling to assess deeper and lateral extents of the identified zone.
The mining sector continues to expand exploration efforts, with companies focused on uncovering valuable resources such as gold. The precious metal's importance stems from its widespread use and economic significance, driving companies to pursue promising geological targets globally.
Alice Queen (ASX:AQX) has announced recent progress at its Viani Project located in Vanua Levu, Fiji. The company reported a new high-grade gold discovery from the second diamond drilling hole at the Dakuniba prospect. The findings revealed substantial gold and silver mineralization, reinforcing the site's geological potential.
Discovery of High-Grade Mineralization
The second diamond drilling hole aimed to confirm continuity following an earlier drilling success. Results verified an extended high-grade gold zone starting from surface depth and continuing to deeper levels. Key intercepts included gold and silver concentrations within multiple core sections, with certain areas displaying notably enriched grades.
This high-grade section is part of a larger zone featuring anomalous gold values and extensive sericite silica alteration. The mineralized zone remains open at depth, suggesting further drilling could expand the known deposit size.
Ongoing Drilling Activities
Encouraged by the latest results, Alice Queen has commenced drilling a third hole to explore deeper extensions of the identified mineralization. This initiative aims to test deeper zones to assess whether the high-grade interval extends further vertically.
The company also plans additional drilling campaigns to investigate the lateral strike extent of the mineralized zone, which currently spans several kilometers at surface level. These efforts aim to enhance understanding of the deposit's geological structure and overall extent.
Geological Implications
The findings at the Viani Project highlight the region's epithermal gold deposit characteristics. Known for their enriched gold content, epithermal systems often present opportunities for significant discoveries. The observed continuity of mineralization underscores the site's exploration significance within the mining sector.
Market Activity and Interest
Following the announcement, Alice Queen observed active trading activity with shares marked at 0.6 cents during morning trading. This development reflects the market's awareness of the Viani Project's progress and the broader implications for the company's resource expansion efforts.
Industry Impact
Alice Queen's achievements at the Viani Project demonstrate ongoing advancements in gold exploration. The company's exploration strategy, coupled with technical expertise, continues to provide insights into resource development within the region. As drilling progresses, the mining sector will closely monitor these activities for further developments regarding the Viani Project's geological characteristics and mineralization continuity. The exploration success aligns with the broader industry's focus on expanding resource opportunities across diverse geological formations, particularly in regions with emerging gold projects like Fiji and the broader ASX200 market space.
