AusQuest (ASX:AQD) - Managing Director, Graeme Drew
Managing Director, Graeme Drew
Source: The Market Herald
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  • AusQuest (AQD) begins diamond drilling at the Balladonia copper-nickel project in the Fraser Range region of Western Australia
  • Six diamond holes will be drilled to test targets at the Tea Tree and Harms Lake prospects with a portion of the drilling funded by the Government’s Exploration Incentive Scheme
  • The drilling is expected to take three to four weeks to complete with samples to be sent to Intertek Genalysis in Perth on an ongoing basis
  • AusQuest expects an eight to 10 week turnaround time for final assays to be received
  • AusQuest ends the day 10 per cent up with shares trading at 2.2 cents

AusQuest (AQD) has begun diamond drilling at the Balladonia copper-nickel project in the Fraser Range region of Western Australia.

A total of six diamond holes, for 1400 metres, will be drilled to test targets at the Tea Tree and Harms Lake prospects.

A portion of the drilling has been funded by the Government’s Exploration Incentive Scheme (EIS).

The drilling is expected to take roughly three to four weeks to complete with samples to be sent to Intertek Genalysis in Perth on an ongoing basis.

AusQuest has outlined an eight to 10 week turnaround time for final assays to be received.

Managing Director Graeme Drew said the company is looking forward to seeing the results.

“A positive outcome from either prospect would significantly change the perception of this area, which has some similarities to both the Fraser Range region next door –
which hosts several nickel-copper orebodies – and the Cloncurry Belt in north-west Queensland, where several major copper-gold deposits are known to occur,” Mr Drew said.

AusQuest is exploring the Balladonia asset in a strategic alliance agreement with a wholly owned subsidiary of resources giant South32.

AusQuest shares ended the day 10 per cent in the green trading at 2.2 cents.

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