Alice Queen has commenced a multi-phase drill program targeting up to approximately 5,000 metres at its flagship Horn Island Gold Project in the Torres Strait region of Far North Queensland, utilizing a dual-purpose, track-mounted rig capable of both reverse circulation and diamond core drilling.

The campaign is being led by the company’s technical team under Adrian Hell, with funding supported by the company’s recent partially underwritten entitlement offer. The drilling is designed to test conceptual Exploration Target areas and build upon the project's resource base.

In May 2026, Alice Queen reported a conceptual hard-rock Exploration Target of 34.6 to 52.0 million tonnes at 0.88 to 1.32 grams per tonne gold for 1.22 to 1.83 million ounces, alongside a conceptual target of 25.1 to 37.6 million tonnes at 0.31 to 0.46 grams per tonne gold for 310,000 to 460,000 ounces across stockpiles, tailings, and alluvial domains. These conceptual targets sit outside the current resource.

The Horn Island Mineral Resource Estimate currently stands at 21.1 million tonnes at 0.84 grams per tonne gold for 569,000 ounces of contained gold, comprising 15.4 million tonnes at 0.82 grams per tonne for 404,000 ounces indicated and 5.7 million tonnes at 0.89 grams per tonne for 165,000 ounces inferred.

The active drill program aims to achieve resource expansion within and adjacent to the existing estimate, improve geological and grade confidence, and test standalone hard-rock and satellite targets such as the Southern Silicified Ridge and Cable Bay.

“Horn Island is a gold system with significant growth potential and this program will focus on demonstrating its scale. The drilling is designed to build on our existing resource and test the broader Exploration Target areas, where we see strong potential to add high-grade ounces across multiple styles of mineralisation.”

— Andrew Buxton, Managing Director

Results from the drilling program will feed directly into ongoing feasibility study work to advance the project toward development, following the delivery of a Project Definition Study that outlined project economics.

Read the full announcement: Drilling Commenced at Horn Island Gold Project