SYDNEY, AUSTRALIA: AusQuest Limited (ASX: AQD) has launched into an intensive interval of exploration exercise under its Strategic Alliance Agreement (SAA) with a wholly-owned subsidiary of South32 Limited, with a quantity of large-scale exploration targets to be drill examined over the subsequent 6-9 months.
With a 1,400m diamond drilling program set to commence on the Balladonia Copper-Nickel
Project inside the Fraser Range of WA inside the approaching days, the Company anticipates back-to-back drilling programs over the months to follow in each Australia and Peru, with the deliberate timetable provided below.
In Australia, this will include additional goal drilling (~1,850m) on the Hamilton Copper Project in NW Queensland starting in early April 2022, and preliminary drilling of nickel-copper targets on the Company’s Morrisey Project inside the Narryer Terrane of WA, which is
planned to commence inside the May-June period.
In southern Peru, programs of follow-up Reverse Circulation (RC) drilling on the Parcoy
Copper-Gold Project (~3,500m) and goal RC drilling on the Cerro de Fierro (Pirata)
Copper-Gold Project (~6,000m) are anticipated to begin throughout the center of the year, topic to receipt of the required permits.
A total of six porphyry copper and/or manto copper targets will be examined by this program.
AusQuest Managing Director Graeme Drew said the imminent begin of drilling at Balladonia marks the begin of an intensive phase of exploration exercise throughout a variety of our projects, setting the scene for a interval of intensive news-flow over the approaching months.
“We have compelling base metal targets at our three Australian Projects that are under the Alliance with South32, and high-priority targets in Peru, the place we have been systematically working towards a large-scale copper discovery for a while now,” he said.
“Any one of those projects has the potential to ship a game-changing result for the Company and our shareholders.”
www.ausquest.com.au