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- Exploration company Ausquest (AQD) says drilling at its Balladonia Project in W.A. shows potential for a new base metal target
- Traces of copper, lead, zinc and silver were found outside the current target zone
- Unfortunately though, bush fire activity has delayed the next round of drilling until later this month or early February
- Ausquest’s share price has closed flat, after a small spike in earlier trade
- Shares in the company are now trading for 13 cents each
Exploration company Ausquest (AQD) has confirmed strong potential for a new base metal target at the Telegraph prospect at its Balladonia Project.
The indicated areas follow reverse circulation drilling on-site.
The project, which is located in the Fraser Range area of Western Australia, has a diamond drilling campaign planned for early this year. This will target the identified base metal zones.
Traces of base metals found include copper, lead, zinc and silver. These occurred outside of the main target zone.
“The assays have enhanced the emerging picture of a strong base metal target at depth and we are looking forward tot he start of diamond drilling as soon as conditions allow,” company Managing Director Graeme Drew said.
Copper results ranged from 200 parts per million to 4000 parts per million, lead fell between 100 parts per million and 900 parts per million, and silver grades included between 0.5 grams per tonne to eight grams per tonne.
The initial main base metal target was first identified after air core drilling in August last year. The zone was outlined as being roughly 500 metres by 300 metres.
Higher values were recorded in the initial main target zone. This saw copper reach up to 5500 parts per million, silvers grades up to 51 grams per tonnes, lead at 1800 parts per million, and zinc hitting 2900 parts per million.
Additionally, at the main base metal target, traces of tin, arsenic, selemium, molybdenum, thallium, bismuth, cerium, and lanthanum.
Bush fire activity in the Balladonia area have led to the diamond drilling campaign being postponed. Drilling was set to begin early this month, however, it has been pushed back until between late January and early February.
“We are doing everything we can to complete the drilling program in a timely fashion without compromising the safety of our personnel or drilling contractors. We will advise the market as soon as drilling re-commences,” Graeme said.
Ausquest’s share price has closed flat on the Australian market today, simmering after a small spike in earlier trade. Shares in the company are now trading for 13 cents each.
