Alice Queen Limited has released detailed results from its maiden exploration program at its 100% owned low‐sulphidation, high‐grade epithermal gold project in Vanua Levu, Fiji. The drilling and surface sampling program, spanning a 5km strike length at the Viani project, has identified several areas with promising high-grade gold mineralisation. Surface samples and costean mapping have revealed anomalous gold and silver values, including a notable costean intercept of 3 metres at 14.3 g/t Au and 11.54 g/t Ag, with a peak of 27.06 g/t Au and 15.94 g/t Ag over 1 metre. This confirms that the high‐grade mineral event observed at depth in key drillholes mirrors the characteristics found at surface. Drillholes 24VDD001 and 25VDD002 returned impressive grades, with the former logging 17.6 g/t Au and the latter 26.4 g/t Au, demonstrating continuity of high‐grade mineralisation down to approximately 175 metres below surface—100 metres deeper than historical data from a previous program in 1998. Further drilling, including hole 25VDD003 which reached 325 metres below surface, and hole 25VDD004, intersected the host structure associated with the epithermal system, reinforcing the view that the mineralising system extends significantly at depth and along strike. Additional surface sampling and costeaning continue to support the presence of parallel vein zones and extension targets, particularly to the east and south of recent drilling areas. Technical indicators such as the high-resolution assay results from 107 rock and float samples, along with pending assays for 300 more samples, underline the extensive quality-control measures adopted during the exploration. The company plans to follow up with further geological mapping, ground magnetics, CSAMT, and intensive surface geochemical sampling to better delineate dilation zones that could host further high-grade ore shoots. These robust technical protocols have been reviewed by experienced geologists, providing added confidence in the interim results. The news presents a bullish outlook for Alice Queen Limited. From a positive perspective, the discovery of high-grade epithermal gold mineralisation both at depth and along an extensive 5km strike length is very promising. The confirmation of mineralisation continuity and the identification of additional targets beyond the initial drilling zones suggest potential for a large-scale discovery and resource expansion that could drive investor interest. Conversely, a bearish sentiment arises from several pending assay results and the early stage nature of the exploration program. While the initial data is encouraging, some critical details remain unconfirmed, and further drilling and extensive follow-up work are needed to determine the full extent of the resource, which leaves room for uncertainty for more cautious investors.