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- AusQuest (AQD) gears up for a reverse circulation drilling program at the Morrisey project in Western Australia
- The 1000 metre program will test three electromagnetic targets that AQD says bear similarities to the Gonneville intrusion at Chalice Mining’s (ASX:CHN) Julimar project
- While Managing Director Graeme Drew pointed out that it is a relatively small drilling program to start with, it is hoped the results will justify a larger program in the future
- With Native Title clearance surveys complete, drilling is due to begin in the first half of August and is expected to take up to two weeks to complete
- Company shares are up 5.5 per cent trading at 1.9 cents at 1:54pm AEST
AusQuest (AQD) is gearing up for a reverse circulation drilling program at the Morrisey project in Western Australia.
The copper, nickel, platinum group element project is in the Narryer Terrane, 500 kilometres north of Perth and is subject to a strategic alliance agreement with a subsidiary of ASX-lister South32 (S32).
Modelling of ground electromagnetic data outlined conductors with moderate to strong conductors at depths of between 50 and 100 metres.
Additionally, in the vicinity of the electromagnetic responses, soil geochemical surveys returned anomalous nickel and copper values.
From this data, AQD has mapped out three priority targets for this round of drilling.
AusQuest said the targets are closely associated with inferred mafic and ultramafic intrusions, and show possible similarities to the Gonneville intrusion that hosts mineralisation discovered by Chalice Mining (ASX:CHN) at its Julimar project, north of Perth.
With Native Title clearance surveys complete, the 1000 metre program is due to begin in the first half of August and is expected to take between one to two weeks to complete.
While AusQuest’s Managing Director Graeme Drew pointed out that it is a relatively small drilling program to start with, the company hopes the results will justify a larger program in the future.
Company shares were up 5.5 per cent trading at 1.9 cents at 1:54pm AEST.
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