AusQuest Says Reverse Circulation Drilling at Peru Porphyry Copper-Gold Project Defines Mineralization Corridor, Shares Jump 7%
MT Newswires Live
Mar 04
AusQuest (ASX:AQD) said the stage-three reverse circulation drilling program at the Cangallo porphyry copper-gold project in Peru defined a large corridor of continuous mineralization extending over 1,500 meters along strike and to a depth exceeding 400 meters, according to a Wednesday Australian bourse filing.
The company encountered an intercept of 164 meters at 0.3% grade of copper and 0.1 grams per tonne (g/t) grade of gold from 304 meters to the end of hole, the filing said. It plans to conduct over 5,000 meters of reverse circulation drilling, expected to start in mid-March, and over 5,000 meters of diamond drilling, expected to launch in April.
AusQuest's shares jumped past 7% in recent trading on Wednesday.
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