AusQuest Limited (ASX:AQD) Commences Maiden Drill Program
Drilling Program Overview
AusQuest Limited (ASX:AQD) is set to commence its maiden reverse circulation (RC) drilling program at the high-priority Cangallo Porphyry Copper Project located in southern Peru. The program will begin in mid-December and aims to explore a large-scale, undrilled porphyry copper target.
Drilling Details
The planned drilling program includes a minimum of eight drill holes extending approximately 2,500 meters, with an estimated completion time of 3 to 4 weeks. Assay results are anticipated to be available by the end of January 2025. Prior geological mapping and rock-chip sampling have indicated a partially exposed potential copper porphyry system within a 3 km x 2 km caldera-like structure. This area contains extensive colluvial and younger sediment cover.
Executive Comments
Graeme Drew, Managing Director of AusQuest, expressed excitement about the upcoming drill program, stating, “This is a very exciting time for the Company as we are about to commence the maiden drill program at this high-priority porphyry copper target in Peru which we have been working towards for over 12 months. Success at Cangallo has potential to create significant value for our shareholders.” AusQuest remains committed to updating its shareholders as results from the drilling become available.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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