AusQuest Restricted (ASX: AQD) is happy to advise that it’s about to start a reverse circulation (RC) drilling program to check a large-scale undrilled, porphyry copper goal inside its Cangallo Porphyry Copper Challenge (Cangallo) in southern Peru.
- Maiden RC drill program to start at Cangallo in mid-December
- Program will check a large-scale, undrilled porphyry copper goal
- Assay outcomes anticipated across the finish of January 2025
- Allowing underway for drill applications throughout different high-priority, large-scale porphyry copper targets at Lantana and Playa Kali
Entry and drill pad preparations have commenced with drilling scheduled to start out round mid-December. The deliberate program, which includes a minimal of eight drill-holes for a complete of ~2,500m, will take 3 to 4 weeks to finish with assay outcomes anticipated across the finish of January 2025.
Determine 1: Cangallo Porphyry Copper Prospect exhibiting copper and molybdenum values and permitted drill websites.
Geological mapping and rock-chip sampling has outlined {a partially} uncovered potential copper (+/- gold) porphyry system, inside a large-scale (3km x 2km) caldera-like construction containing intensive colluvial and youthful sediment cowl.
The preliminary drilling program will check areas containing comparatively intense veining (quartz) and porphyritic dykes, the place increased copper (as much as 0.65% Cu) and gold (as much as 0.3g/t Au) values have been discovered. The potential for a buried porphyry copper system beneath the intensive cowl throughout the interpreted caldera-like construction can even be examined.
Cangallo is situated near vital infrastructure and is roughly 25km from the city of Chala, and inside 10km of the coast.
Commenting on the approaching graduation of drilling at Cangallo, AusQuest’s Managing Director, Graeme Drew, stated:
“This can be a very thrilling time for the Firm as we’re about to start the maiden drill program at this high-priority porphyry copper goal in Peru which we now have been working in the direction of for over 12 months.
Cangallo has by no means been drilled earlier than and demonstrates basic geochemical and alteration signatures which recommend there may be vital potential to find large-scale copper porphyry mineralisation.
Success at Cangallo has potential to create vital worth for our shareholders and we stay up for protecting our shareholders up to date because the outcomes grow to be obtainable.”
Click on right here for the total ASX Launch
This text consists of content material from AusQuest restricted, licensed for the aim of publishing on Investing Information Australia. This text doesn’t represent monetary product recommendation. It’s your accountability to carry out correct due diligence earlier than performing upon any data supplied right here. Please discuss with our full disclaimer right here.
