Multiple Large-Scale Targets To Be Tested This Year
AusQuest Limited (ASX: AQD) has embarked on an intensive period of exploration activity under its Strategic Alliance Agreement (SAA) with a wholly owned subsidiary of South32 Limited, with multiple large-scale targets to be drill tested over the next six to nine months.
With drilling already now underway at the Cerro de Fierro Copper Project in Peru, the Company expects back-to-back drilling programmes over the coming months in Peru and Australia, with a detailed timetable provided below.
This will include initial diamond drilling (minimum of 1,700m) at the Parcoy Copper Project in Peru starting around the middle of 2021, follow-up diamond drilling (~2,000m) at the Hamilton Copper-Gold Project in north-west Queensland starting around the end of April 2021 (pending weather) and Aircore drilling (~2,000m) at the Balladonia Copper-Nickel Project in the Fraser Range region of Western Australia (WA) in April/May 2021.
It is also anticipated that initial drill testing of the company’s Los Otros Copper Project in Peru will commence later in the year pending receipt of Government permits, which are expected around mid-2021.
Managing Director, Graeme Drew, said the company had embarked on one of the most active periods of drilling activity in its recent history, setting the scene for a period of intensive news-flow over the coming months.
“We have compelling exploration targets at all our Peruvian Copper Projects as well as at the Hamilton and Balladonia Projects in Australia – all of which have the potential to deliver game-changing discoveries,” he said.
“Additional exploration work at our Paterson Projects and the newly-acquired Morrisey and Moora Nickel-Copper Projects, which is planned for the coming months, is also expected to provide additional drill targets which may be able to be included in our drilling programs before the end of the year.”