Alice Queen (ASX:AQX) intersected high-grade epithermal gold mineralization in the second hole at its 100% owned Viani Proiect in Fiji, Oceania, according to a Tuesday Australian bourse filing.
The intersections include 4.1 meters at 6.1 grams per tonne (g/t) grade of gold from a depth of 195.8 meters including 0.6 meters at 26.4 g/t gold and 39.7 g/t gold.
A third drill hole in the project is currently in progress testing 100 meters below the second hole, the filing added.
The company's shares were down nearly 17% in recent Tuesday trade.
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