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Ausquest Limited (ASX:AQD)

ALERT: Price-sensitive ASX Announcement for AQD
Current share price for AQD : $0.042 0.001 (2.44%)+
Announcement
Release
4 Mar 2026 8:57AM
Price at Release
$0.041
Full Release
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Summary
AusQuest Limited has reported encouraging results from the Stage 3 Reverse Circulation (RC) drilling program at the Cangallo Porphyry Copper-Gold Project in Peru. The drilling has defined a large corridor of continuous copper mineralisation, extending more than 1,500 meters along strike and over 400 meters deep. Significant zones of broad porphyry mineralisation include high-grade copper, highlighting the system's capacity to generate high-grade deposits. Preparations are underway for extensive RC and diamond drill programs to explore depth extensions. The project is strategically located close to key infrastructure, enhancing its development potential.
Key Points
  • Broad spaced RC drilling defined a large corridor of continuous mineralisation at Cangallo extending +1,500m along strike, 250-500m in width and over 400m deep.
  • Significant zones of broad porphyry mineralisation include higher-grade copper zones such as 164m @ 0.33% Cu, and 68m @ 0.52% Cu.
  • Stage 3 RC drilling program at Cangallo continues to expand the mineralised footprint with potential for higher copper grades.
  • Copper mineralisation is present from surface to depths of ~200m to 250m as oxides, transitioning to mixed oxides and sulphides, indicating potential for heap leach processing.
  • Preparations are underway for a +5,000m RC drill program and a +5,000m diamond drill program targeting higher-grade extensions.
  • Diamond drilling indicates mineralisation can extend to depths greater than 800 metres, highlighting significant growth potential.
  • AusQuest Limited is actively advancing the Cangallo project with a focus on expanding the known mineralised footprint and exploring higher-grade targets.
  • The Cangallo project is strategically well-located near infrastructure and the coast in Peru, which supports potential development.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.