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- AusQuest (AQD) commences a drilling program at its Pirata copper project in Southern Peru
- The company plans to drill 20 reverse circulation holes for about 6700 metres, with the work will be funded under a strategic alliance agreement with a subsidiary of South 32
- The drilling will test five porphyry copper and manto copper targets along a major east-west structural corridor parallel to the nearby Coastal Batholith contact
- Assays from the program are expected in December and January
- Shares in AusQuest last traded at 1.8 cents on October 7
AusQuest (AQD) has commenced a drilling program at its Pirata copper project in Southern Peru.
Under the program, the company plans to drill 20 reverse circulation (RC) holes for about 6700 metres.
The drilling work is designed to test five porphyry copper and manto copper targets along a major east-west structural corridor parallel to the nearby Coastal Batholith contact.
The company said this was a priority target zone within the Coastal Belt of Peru and Chile for major copper deposits.
AusQuest Managing Director Graeme Drew said he was pleased drilling operations were “finally” underway at Pirata.
“We are excited about the potential for a large-scale discovery stemming from this program, given the widespread nature of copper we have found in this area and the strong indicators of porphyry mineralisation that are evident in our geochemical data,” Mr Drew said.
The drilling will be funded under AusQuest’s strategic alliance agreement with a subsidiary of ASX-listed big-cap South 32 (S32).
Assays from the program are expected in December and January.
Shares in AusQuest last traded at 1.8 cents on October 7.
