AusQuest Limited (ASX:AQD) Announces Stage 2 Drilling at Cangallo Project
Project Update
AusQuest Limited has completed access and drill site preparation for its 100% owned Cangallo Project in Peru. Stage 2 Reverse Circulation (RC) drilling, totaling approximately 5,000 metres, is scheduled to commence in the second half of May, contingent on the arrival of the drill rig. The drilling aims to extend existing copper-gold intersections and identify the porphyry system’s centre, with initial assay results anticipated in July 2025.
Executive Comments
Managing Director Graeme Drew stated, “The team in Peru has been working hard to be ready for when the drill rig arrives on site. We are very excited about commencing Stage 2 of our drilling program, which we think will add significantly to the copper intersections reported from the maiden drilling program and further enhance the size potential for this new porphyry copper-gold discovery.
“Stage 2 drilling has been designed to help locate the centre of the porphyry system and the possible presence of a supergene blanket, both of which hold excellent potential to contain high copper grades.
“Success will create significant value for our shareholders and mark a transformative period for the Company. We look forward to keeping the market updated on the commencement of drilling.”
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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