An Exploration Company Targeting New Deposits and Mineral Provinces with Major Ore Potential and the Ability to Significantly Enhance Shareholder Wealth
Stock Code:
ASX: AQD
Company Exposure:
Copper, Gold, Nickel, PGE
Project Locations:
Australia, Peru
AusQuest Limited (ASX: AQD) is currently exploring within Australia and Peru, and holds in excess of 8,000km2 of exploration title (granted tenements and tenement applications). The Company explores for a range of commodities and mineralization styles, including magmatic nickel-copper-platinum group elemental sulphides, large porphyry copper and iron oxide copper-gold, and strata-bound base metal deposits. Most of the projects are “greenfields” in nature although initial drilling at the Cerro de Fierro project in southern Peru has confirmed potential for an Iron-Oxide Copper-Gold mineralization.
In March 2020, the Company announced the Strategic Alliance Agreement (SAA) with South32 had been extended for a further two-year period, with South32 providing funds to advance selected early stage prospects to the drilling stage with follow-up drilling under agreed joint venture terms. During 2020, the Company received approximately A$3.5M for exploration programs in both Peru and Australia with an agreed administration fee (15%) helping to fund ongoing project generation.
Investment Highlights
Peru – Copper-Gold
- Over the past ten years, AusQuest has assembled a world-class exploration opportunity in Peru, one of the world’s most prominent destinations for international copper exploration
Peru – Cerro de Fierro
- Located in Southern Peru, 140km south of the Mina Justa Cu deposit
- Drilling in 2018 and 2019 intersected widespread Cu (Au) mineralization
- Drilling in 2021 finds extensive shallow Cu oxides and discovers potential for porphyry
mineralization - Sampling confirms copper potential extends up to 15km to the east
Peru – Parcoy IOCG Project
- Located approximately 50km north of Cerro de Fierro
- Rock and soil sampling in 2019 and 2020 outlined large areas of anomalous Cu (+/- Au)
- Has the potential for manto-style copper within the volcanics and porphyry style copper within nearby intrusions
- Initial drilling to test targets commenced in late April
Australia – Hamilton IOCG Project
- Located in Queensland 120km south of the Cannington mine
- Widely spaced drill holes identified potassic alteration over a large area
- Magnetic targets within alteration halo could reflect copper (gold) mineralization
- Drilling planned for 1H 2021
Australia – Balladonia Nickel-Copper Project
- Located 120km south of the Novel-Bollinger nickel-copper deposit
- Consists of four exploration licenses covering 1,200km2
- RC and diamond drilling in 2020 intersected a carbonatite intrusion beneath base metal anomalism
- Drilling new targets planned for 2021
Australia – Western Yilgarn Nickel-Copper Projects
- The Morrisey Ni-Cu-PGE Project is located north of Perth within Narryer Terrain
- Similar geological settings to the Julimar Ni-Cu-PGE discovery by Chalice Mining
- Strong magnetic responses similar to those associated with Julimar are being targeted
- Helicopter EM survey in 1H 2021 to identify drill targets
Australia – Paterson Gold-Copper Projects
- Located 250km east and north-east of Newman, Western Australia, which hosts large gold and copper deposits at Telfer and Nifty
- Targeting similar magnetic signatures to new discoveries at Winu (Rio Tinto) and Haveiron (Newcrest)
- Paterson Terrain hosts large gold and copper deposits (Telfer/Nifty)
