One of the pictures shows the stunning model, granddaughter of gambling emperor 'Black Jack' Dellal, joking with pals, while posing with a friend next to the finger thick trail of white powder.
The picture, taken at one of her friend's pads in July, shows Alice lying on a mat with her black and silver skirt hitched up.
In the second picture, the model is seen with fashion designer Alice in a south London nightclub in March, apparently leaning over a wrap of drugs.
The 20-year-old model has been tipped as the next big thing in the Catwalk world, and has taken over Kate Moss' 500,000 pounds deal with lingerie giants Agent Provocateur, who are planning to launch her as the new face of the global brand.
However, her agent named the issue as a "private matter" after seeing the pictures.
"No comment. It's a private matter for her and her family," The Sun quoted the agent, as saying.