AusQuest Limited (ASX:AQD) Commences Drilling at Moora Project
Drilling Operations Underway
AusQuest Limited (ASX: AQD) has commenced drilling at the Latham Prospect, part of the Moora Nickel-Copper-PGE Project in Western Australia. The drilling effort aims to identify significant mineralisation potential within ultramafic host rocks akin to those present at the Julimar site located 150km south.
The initial drilling phase has intersected mafic intrusive rocks, but the expected strongly magnetic ultramafic rocks have not yet been confirmed. Advanced computer modelling indicates that these rocks should be present beneath the current drilling points, guiding the planned drilling strategy.
Future Outlook
The reverse circulation (RC) drilling program includes two holes over approximately 500 metres and is anticipated to be completed within a week. Assay results are expected four to six weeks after drilling. This work is funded under the Strategic Alliance Agreement with a subsidiary of South32 Limited (ASX: S32).
Managing Director Graeme Drew commented, “The Latham Intrusion is a large mafic intrusion which we believe is prospective for significant Ni-Cu-PGE mineralisation… We look forward to reporting on progress at Moora once results of the drilling program are available.”
Motley Fool contributor Lauren Surplice 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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