- AusQuest (AQD) officially begins its 10-hole drilling program at the Parcoy copper project in Southern Peru
- Reverse circulation drilling is testing beneath surface copper anomalism which has potential for widespread “manto-style” copper mineralisation
- The company says drilling will likely take between three to four weeks to complete and expects to receive assays in late August
- AusQuest ends the day 4.76 per cent in the red to close at two cents
AusQuest (AQD) has officially begun its 10-hole drilling program at the Parcoy copper project in Southern Peru.
The reverse circulation (RC) drilling effort is aimed at testing beneath surface copper anomalism that extends over roughly three kilometres of strike within andesitic volcanics that are “potassically altered”.
The company said this indicates the potential for widespread “manto-style” copper mineralisation at Parcoy which was initially highlighted through drilling undertaken in 2021.
Managing Director Graeme Drew said the company is excited to be drilling again in Peru.
“We have a number of quality porphyry-copper and manto-copper targets that we are planning to drill test over the coming months, which should provide us with a good indication of the potential for a large-scale copper discovery on our ground,” he said.
The 3500-metre RC program is part of a broader 10,000-metre RC drilling program that’ll be completed over the coming months.
AusQuest expects the 10-hole program at Parcoy will take three to four weeks to complete and final assays should be available between four and six weeks after drilling has wrapped up.
The company has ended the day 4.76 per cent in the red to close at two cents.