Planned drill pad and access at Parcoy. Source: AusQuest
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  • AusQuest (AQD) is set to begin a reverse circulation (RC) drilling at its Parcoy copper project in Southern Peru
  • Drilling will include 10 holes to test strong copper anomalism over three kilometres of strike
  • The company completed access preparation activities for the program to start some time this month and first results are expected in late August
  • AQD shares end the day five per cent in the green to close at 2.1 cents

AusQuest (AQD) will soon begin reverse circulation (RC) drilling at its Parcoy copper project in Southern Peru.

The drilling effort is will be funded as part of the strategic alliance agreement with a wholly-owned subsidiary of South32 (S32) and is planned to include 10 holes for around 3500 metres.

Drilling will test beneath strong surface copper anomalism extending over roughly three kilometres of strike within the andesitic volcanics.

The target sits adjacent to an interpreted feeder structure and is believed to reflect “manto style” copper mineralisation similar to that found at the nearby 475-million-tonne Mina Justa copper deposit.

Managing Director Graeme Drew expects the drilling program will provide a “comprehensive test” of the potential to delineate a tier-one resource at the Parcoy project.

“Permitting has taken some time to complete but we are now at the point where drilling is
imminent,” he said.

“We are excited about the potential for discovery at Parcoy and look forward to drilling commencing very shortly.”

The company completed access preparation activities for the program to start some time this month and drilling is expected to take three to four weeks.

Assays will start being received in late August.

AQD shares ended the day five per cent in the green to close at 2.1 cents.

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