AusQuest (ASX:AQD) extended the known mineralized porphyry system in the south at its Cangallo project in Peru to at least 800 meters vertical depth, according to a Thursday filing with the Australian bourse.

Assays from the first two diamond drill holes also confirmed the lateral continuity of higher-grade copper mineralization within the northern area, with results including nearly 356 meters at 0.3% copper, 0.05 grams per tonne (g/t) grade of gold from 34 meters, and 348 meters at over 0.2% copper, 0.06 g/t grade of gold from 178 meters, the filing said.

Further results will be available upon the completion of drill holes, per the filing.