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Ausquest Limited (ASX:AQD)

ALERT: Price-sensitive ASX Announcement for AQD
Current share price for AQD : $0.045 0.007 (18.42%)+
Announcement
Release
22 Jul 2026 8:54AM
Price at Release
$0.038
Full Release
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Summary
AusQuest Limited reported the completion of the first deep diamond drill-hole (CANDD003) at its Cangallo Porphyry Copper-Gold Project in Peru, reaching a depth of approximately 880 meters. The drilling confirmed substantial vertical extensions of the mineralised porphyry system, with copper mineralisation observed from near the surface to about 550 meters depth. The program aims to explore hypogene copper mineralisation beneath the previously drilled depth of 350 meters. The company is awaiting assay results, expected within four to six weeks, and is optimistic about the project's potential. Managing Director Graeme Drew highlighted the promising visual indicators from the core samples, underscoring the project's economic prospects.
Key Points
  • Diamond drill-hole CANDD003 completed to ~880m depth at Cangallo, confirming mineralised porphyry system's vertical extent.
  • Copper mineralisation found from surface to ~550m depth, transitioning from oxides to hypogene sulphides.
  • Drilling program aims to test hypogene copper mineralisation below ~350m depth of previous RC drilling.
  • Assay results for the first drill-hole expected in 4 to 6 weeks.
  • Managing Director Graeme Drew expressed satisfaction with visual observations from core samples.
  • Drilling continues to explore the scale and economic potential of the Cangallo system.
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.