The Assay TV spoke to Graeme Drew, Managing Director and Co-Founder at AusQuest.
AusQuest Limited is an exploration company targeting new deposits and mineral provinces. The Company is currently exploring within Australia and Peru and holds in excess of 5,000 km² of exploration title (granted tenements and tenement applications).
In March 2020 the Company announced the Strategic Alliance Agreement with South32 (SAA) had been extended for a further 2 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.
The Company explores for a range of commodities and mineralisation styles including magmatic nickel-copper-platinum group element sulphides, large porphyry copper and iron oxide-copper-gold, and stratabound 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 (IOCG) mineralisation.
Primary ticker: ASX:AQD
Stage of development: Exploration
Commodity: Copper, Gold, Nickel, PGE
Project locations: Australia, Peru