AusQuest announces new exploration venture

AusQuest (ASX:AQD) has revealed its Coober Pedy Iron-Oxide Copper-Gold (IOCG) Project in South Australia as a new exploration opportunity under its Strategic Alliance Agreement with South32. The project, located in the Olympic Dam IOCG Province, grants South32 exclusive rights and the potential to earn a 70% interest through a US$4.5 million exploration investment.

Overview of AusQuest's exploration ambitions

AusQuest's Coober Pedy Project in the Olympic Dam IOCG Province is a promising exploration site for copper-gold deposits. Through its Strategic Alliance with South32, the project aims to leverage significant exploration investments and advanced techniques to identify viable drilling targets. A major Induced Polarisation survey is planned for 2025, focusing on locating sulphide targets akin to Prominent Hill, Carrapateena, and Olympic Dam. The collaboration with South32 not only provides financial backing but also enhances the project's potential success through shared expertise. AusQuest remains committed to transparent communication with investors as the project progresses.

Insights from AusQuest leadership

Managing Director Graeme Drew expressed optimism about the project's potential and the strategic partnership with South32, highlighting the project's location in a world-class IOCG Province as a factor for potential success.