- AusQuest (AQD) finds priority drill targets at its Morrisey nickel-copper-platinum group elements project in the Narryer Terrance of WA
- The company outlines three discrete conductors from the recent ground electromagnetic surveys (EM)
- All conductors confirmed by the survey are closely associated with strong magnetic anomalies and, according to the company, reflect sulphide mineralisation
- The proposed reverse circulation drilling of EM and magnetic targets is currently being considered under the strategic alliance agreement with South32
- AQD shares are up 11.1 per cent and trading at two cents per share at 1:18 pm AEST
AusQuest (AQD) has identified priority drill targets at its Morrisey nickel-copper-platinum group elements project in the Narryer Terrance of WA.
The company has outlined three discrete conductors from the recent ground electromagnetic surveys (EM).
All conductors confirmed by the survey are closely associated with strong magnetic anomalies and, according to the company, reflect sulphide mineralisation.
The targets are also similar to Chalice Mining’s (CHN) Julimar project.
Managing Director Graeme Drew is “excited to have generated strong drilling targets.”
“While it is still early days, the occurrence of conductive targets associated with iron-rich
mafic/ultramafic rocks and scattered nickel and copper anomalism in soils is a very
encouraging sign,” he said.
“The planets are starting to align for these targets and we are really looking forward to getting rigs on the ground to test them.”
The proposed reverse circulation drilling of EM and magnetic targets is currently being considered under the strategic alliance agreement with South32 (S32).
Native title clearance surveys for access to the drill sites are expected to be completed at the end of May, with drilling aimed in late second quarter and third quarter, subject to drill availability.
AQD shares were up 11.1 per cent on the market and trading at two cents per share at 1:18 pm AEST.