AusQuest Limited (ASX: $AQD) announces extension of copper mineralisation at Cerro de Fierro project in Peru

AusQuest Limited (ASX: $AQD) has confirmed the continuity of copper mineralisation at the Cerro de Fierro Project in southern Peru. The recent 1,012m, 4-hole Reverse Circulation (RC) drilling program has provided evidence that copper and gold grades are more likely to improve at depth. This is the first of four drill programs planned in Peru over the next 6-12 months.

AusQuest's Managing Director, Graeme Drew, comments on the recent drilling results

The recent drilling has demonstrated the continuity of the copper-gold system across a large area, albeit within a structurally complex area that has complicated the distribution of mineralisation. We continue to hit lots of smoke but geological complexity has made it harder to locate the fire. The potential for a sizeable copper resource at Cerro de Fierro may lie at depth, where our magnetic survey suggests the possibility for deeper mineralisation several hundred metres to the north of our current drilling. We need to wait for the results of the geochemical study and integration with the earlier drill results before we can make a proper assessment of this prospect. This is only one of four large-scale manto and/or porphyry copper-gold targets that we have located in the region and are looking to drill over the next 6-12 months, so we are only just getting started in the current phase of exploration.

Summary of AusQuest's extension of copper mineralisation at Cerro de Fierro project

AusQuest Limited (ASX: $AQD) has extended the copper mineralisation at the Cerro de Fierro Project in southern Peru, with evidence suggesting potential for better mineralisation at depth. The company plans to conduct three more drill programs in Peru over the next 6-12 months, aiming to explore large-scale manto and/or porphyry copper-gold targets in the region. The Managing Director, Graeme Drew, highlighted the geological complexity that has made it challenging to locate the fire, indicating the need for further assessment after the geochemical study and integration with earlier drill results. AusQuest's exploration efforts in Peru reflect its ambition to uncover significant copper resources and contribute to the region's mining potential.