Join our daily newsletter At The Bell to receive exclusive market insights
- AusQuest (AQD) has begun its maiden drilling program at the Parcoy Copper Project in southern Peru
- All up, eight reverse circulation holes will be drilled to test two priority target areas identified in previous rock chip and soil sampling programs
- Drilling is expected to take between three to four weeks to complete with results expected four weeks after work wraps up
- The work is being undertaken under AusQuest’s strategic alliance agreement with a wholly owned subsidiary of South32 (S32)
- AusQuest has ended the day 4.76 per cent in the green with shares trading at 2.2 cents
AusQuest (AQD) has begun its maiden drilling program at the Parcoy Copper Project in southern Peru.
The Parcoy Project lies roughly 50 kilometres northwest of AusQuest’s Cerro de Fierro Project and around 100 kilometres southeast of the Mina Justa Deposit.
All up, eight reverse circulation (RC) holes, for roughly 3000 metres, will be drilled to test two priority target areas identified in previous rock chip and soil sampling programs.
Drilling is expected to take between three to four weeks to complete with results expected four weeks after work wraps up.
The work is being undertaken under AusQuest’s strategic alliance agreement (SAA) with a wholly owned subsidiary of South32 (S32).
“These targets include some of the stronger copper responses that we have found so far in southern Peru,” Managing Director Graeme Drew said.
“Their association with typical indicator elements and proximity to regional structures and prospective volcanic host rocks gives us cause for optimism,” he added.
AusQuest has ended the day 4.76 per cent in the green with shares trading at 2.2 cents in a $17.28 million market cap.
