AusQuest initiates exploration in Peru

AusQuest (ASX:AQD) is set to commence its first-ever reverse circulation drilling program at the Cangallo Porphyry Copper Project in southern Peru. Scheduled to start in mid-December, this exploration aims to investigate a large-scale, previously undrilled copper target. The drilling consists of a minimum of eight holes totaling around 2,500 meters, with completion expected in 3 to 4 weeks, and assay results anticipated by the end of January 2025.

Strategic exploration and future ambitions

AusQuest is launching its inaugural drilling program at the Cangallo Porphyry Copper Project in Peru, targeting a large, previously unexplored copper system. This initiative involves a minimum of eight drill holes over approximately 2,500 meters, with findings expected by January 2025. The project is strategically located near key infrastructure, enhancing its potential for success. AusQuest's management, led by Managing Director Graeme Drew, is optimistic about the project's ability to add significant shareholder value. Additionally, permits are being processed for further exploration at other promising sites, Lantana and Playa Kali, highlighting AusQuest's commitment to expanding its portfolio and discovering new resources. The company also acknowledges potential risks and uncertainties, addressing them through forward-looking statements.

Executive insights on Cangallo drilling

We are excited about the upcoming drill program and the potential it holds for enhancing shareholder value,' expressed Graeme Drew, Managing Director of AusQuest.