Alice Queen Launches Key Drilling at Fiji’s Viani Gold Project

Exploration Momentum Builds at Viani

Alice Queen Limited (ASX: AQX) has taken a decisive step forward in its Fiji exploration strategy by commencing a three-hole Phase 1 diamond drilling program at the Viani Project. This low sulphidation epithermal gold system, located on Vanua Levu island, represents a significant opportunity given its extensive footprint and historic high-grade intersections.

The drilling aims to test extensions of gold mineralisation identified in previous limited drilling campaigns, notably the Japan International Cooperation Agency (JICA) hole MJVFV5, which intersected 2.2 metres at 11.3 g/t Au, including 0.6 metres at 27.6 g/t Au. These results underscore the potential for a robust high-grade vein system at depth and along strike.

Geological Context and Historical Data

Viani spans more than 200 square kilometres and remains largely underexplored despite promising surface geochemical anomalies and quartz vein mineralisation mapped over a strike length exceeding 3 kilometres at the Dakuniba prospect. The project’s geology, dominated by olivine basalts and volcaniclastics intruded by andesite sills, hosts epithermal gold mineralisation typical of Pacific Rim deposits.

Historic drilling was limited to a 600-metre strike length of a 5-kilometre gold-in-soil anomaly, leaving substantial untested potential. Alice Queen’s management believes the previous programs did not adequately test the system, and the current drilling campaign is designed to address these gaps.

Broader Portfolio and Upcoming Drilling at Sabeto

Beyond Viani, Alice Queen is advancing its Sabeto Project, also in Fiji, targeting an emerging copper-gold porphyry system within the Sabeto Valley metallogenic corridor. Following the completion of Viani’s Phase 1 drilling, the company plans to initiate a three-hole program at Sabeto to test for economic mineralisation at depth, leveraging geophysical anomalies and surface geochemical data.

The Sabeto target is conceptualised as a substantial alkaline subvolcanic breccia-hosted gold-copper ore body, potentially comparable in scale and style to notable Queensland deposits such as Mt Leyshon and Kidston.

Financial and Operational Overview

During the December 2024 quarter, Alice Queen incurred $855,000 in exploration and evaluation expenditure, predominantly focused on its Fiji projects. The company maintains a cash balance of approximately $1.7 million at quarter-end, following a $3.64 million capital raise in July 2024. Operating cash flows remain negative, consistent with exploration-stage companies, but management indicates ongoing efforts to secure additional funding as needed to sustain and expand its drilling programs.

No exploration activities were reported for the Horn Island, Mendooran, or Boda East projects during the quarter, reflecting a strategic focus on Fiji’s high-potential assets.

Looking Ahead

The Phase 1 drilling at Viani is expected to conclude in the first quarter of 2025, with results eagerly anticipated by the market. Success here could trigger a more extensive Phase 2 program aimed at delineating the continuity and scale of the high-grade gold mineralisation. Concurrently, the planned Sabeto drilling campaign will test a compelling copper-gold porphyry target, potentially broadening Alice Queen’s resource base in Fiji.