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Ausquest Limited (ASX:AQD)

ALERT: Price-sensitive ASX Announcement for AQD
Current share price for AQD : $0.043 0.005 (13.16%)+
Announcement
Release
25 Mar 2026 8:58AM
Price at Release
$0.038
Full Release
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Summary
AusQuest Limited has re-commenced a major Reverse Circulation (RC) drilling program at its Cangallo Copper-Gold discovery in Peru. The program is designed to expand the defined copper-gold mineralisation and test for higher-grade hypogene copper sulphides beneath oxide layers. The drilling is expected to cover over 6,000 meters, aiming to further explore the mineralised system to the south. Managing Director Graeme Drew emphasized the growing potential of the site, citing large corridors of copper mineralisation and the emergence of higher-grade zones. Deep diamond drilling is planned subsequent to the current RC program, underscoring the company's strategic focus on significant mineral resource development.
Key Points
  • RC drilling re-commenced at Cangallo with over 6,000m planned.
  • Focus on expanding copper-gold mineralisation and testing for higher-grade copper sulphides.
  • Drilling program to provide initial test of mineralised system to the south.
  • Deep diamond drilling planned following RC drilling completion.
  • Broad-spaced RC drilling defined a large mineralisation corridor at Cangallo.
  • Copper occurs as oxides from surface to 250m, transitioning to sulphides at 300m depth.
  • Potential for higher-grade hypogene mineralisation near the coast and infrastructure.
  • Managing Director Graeme Drew expressed excitement about the project advances.
  • Stage 3 drilling commenced in December 2025, targeting southern extensions.
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.