AusQuest (ASX:AQD) said reconnaissance reverse circulation drilling assays from its Mt. Davis project in Western Australia highlighted the potential for sediment-hosted base metal mineralization in the area, according to a Tuesday Australian bourse filing.
Three of the nine drill-holes returned base metal values within the weathered
portion of the section of 18 meters at 2,010 parts per million (ppm) of lead and 583 ppm of copper, 24 meters at 3,586 ppm of lead, and 0.5 grams per tonne (g/t) of silver, as well as 8 meters at 9,485 ppm of lead and 0.4 g/t of silver.
The project is subject to a strategic alliance agreement with a wholly-owned
subsidiary of South32 (ASX:S32), and the next steps at the project will be determined in consultation with South32.