What an interesting find Knightship!! I am amazed!
This gift from the builders of the Mersey Tunnel is obviously a major item and, yet, we have never heard of it previously. So, thank you Knightship for such an interesting find and for extending our knowledge of Queen Alexandra's jewels.
I have not had much time to hunt for additional information (and may not for some time to come) but on a short hunt today I did find the two items below.
The first is, I think, a copy of the item you posted. It comes from the
Illustrated London News 13 March 1886. The typeface and text is the same and no other newspaper of the era had this precise report.
A slightly more informative description of the bracelet was given in the Yorkshire Post press item.
So far, I have not found reports of Queen Alexandra wearing this jewel, but as the Queen habitually wore jewels which were presented to her (and most were noted in the media) I have no doubt that, in time to come, some of us will find a reference to this very interesting bracelet.
I am not surprised that, so far, no mention of this bracelet has been found on the Royal Collection site, as I very much doubt if all items in their collection have been catalogued. Secondly, it is possible that this jewel was dismantled in the Queen's lifetime, or inherited by some family member and so is no longer part of the royal collection.