AusQuest Expands Scale of Copper-Gold Mineralisation at Cangallo in Peru

AusQuest Limited ( (AU:AQD) ) has issued an update.

AusQuest Limited reports that recent diamond and reverse circulation drilling at its 100%-owned Cangallo porphyry copper-gold discovery in Peru has substantially expanded the known extent of copper mineralisation. Diamond drilling has extended the mineralised vein system to depths of over 800 metres, while Stage 3 RC drilling has intersected copper oxides and sulphides more than 500 metres south of earlier work, increasing the strike length of the porphyry system to more than one kilometre north–south. Copper occurs in stockwork veins, veinlets and mineralised porphyry dykes, with oxide minerals logged to depths beyond 300 metres and sulphides beyond 800 metres. Samples from the RC program have been dispatched for laboratory analysis, with assay results expected later in January to guide the next phase of diamond drilling, potentially influencing AusQuest’s resource definition strategy and the project’s future development pathway.

The most recent analyst rating on (AU:AQD) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on AusQuest Limited stock, see the AU:AQD Stock Forecast page.

More about AusQuest Limited

AusQuest Limited is an Australia-based mineral exploration company listed on the ASX, focused on discovering and advancing copper and gold deposits. The company’s portfolio includes the 100%-owned Cangallo porphyry copper-gold project in Peru, where it is systematically drilling to define the scale and economic potential of a large porphyry system.

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