Alice Queen Limited wins New Frontier Cooperative Drilling grant for Looking Glass Project

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Image credit: Alice Queen Limited ASX release

Alice Queen Limited has successfully applied for a grant of up to $190,000 under the New Frontier Cooperative Drilling Program to drill the Looking Glass Project near Coonabarabran in central News South Wales.

Image credit: Alice Queen Limited ASX release
Image credit: Alice Queen Limited ASX release

Administered by the NSW Department of Industry Skills and Regional Development, the Program provides grants for exploration drilling at projects which demonstrate strong prospectivity, sound financial planning and a proven technical base.

Alice Queen Managing Director Andrew Buxton said the grant will cover 50% of drilling metre rates in two 700 metre holes targeting porphyry style Au/Cu mineralisation.

“The New Frontier grant for Looking Glass is a solid endorsement of the Company’s bold plan to attempt to find another Cadia style deposit on the Molong Volcanic Belt,” Mr Buxton added.

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“We are grateful to the NSW department for its assistance and support of this plan.”

Alice Queen holds two projects situated in the Molong Volcanic Belt in the NSW; the above mentioned Looking Glass project (EL 8225) and Mendooran (ELA5207), which is awaiting imminent grant.