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The Company is currently exploring within Australia and Peru and holds in excess of 5,000 km² of exploration title (granted tenements and tenement applications).
The Company has a Strategic Alliance Agreement with South32 (SAA) that has been active for the last five years, with South32 providing funds to advance selected early stage prospects to the drilling stage with follow-up drilling under agreed joint venture terms. During 2021 the Company received approximately A$6.5M for exploration programs in both Peru and Australia with an agreed administration fee (15%) helping to fund ongoing project generation.
The Company explores for a range of commodities and mineralisation styles including magmatic nickel-copper-platinum group element sulphides, large porphyry copper and iron oxide-copper-gold, and stratabound base metal deposits. Most of the projects are “greenfields” in nature although initial drilling at the Cerro de Fierro and Parcoy projects in southern Peru and drilling at the Hamilton Prospect in north-west Queensland has confirmed potential for copper (+/- gold) mineralisation in each of these areas.
The Company explores for a range of commodities and mineralisation styles including magmatic nickel-copper-platinum group element sulphides, large porphyry copper and iron oxide-copper-gold, and stratabound base metal deposits. Most of the projects are “greenfields” in nature although initial drilling at the Cerro de Fierro project in southern Peru has confirmed potential for an Iron-Oxide Copper-Gold (IOCG) mineralisation.
Over the past ten years AusQuest has assembled a world-class exploration opportunity in Peru, South America – one of the world’s most prominent destinations for international copper exploration.
The Project is located in southern Peru ~140km south of the Mina Justa Cu deposit. Recent drilling in 2021 confirmed the widespread nature of Cu (Au) mineralisation also providing strong indications of buried porphyry copper mineralisation in the south of the prospect. Further drilling is planned for 2022.
The project is located approximately 50km north of Cerro de Fierro within similar volcanic rocks. Rock and soil sampling in 2019 and 2020 outlined large areas of highly anomalous Cu (+/- Au) within both the andesitic volcanics and adjacent monzodiorite intrusion. Initial ‘Proof of Concept’ drilling in 2021 confirmed the presence of manto copper up to 500m from the known feeder structure at the northern and southern extremities of the prospect (5km apart). Further drilling is planned for 2022 to test the more anomalous central zone.
The Los Otros project is located close to the major copper producing region in southern Peru. It lies within 35km of the Cuajone mine (~1.6Bt @ 0.6% Cu), and 40km from the Quellaveco deposit (~1.3Bt @ 0.57% Cu) currently being developed by Anglo American. Balladonia Nickel-Copper Project. Initial drilling at this prospect to test large-scale porphyry copper targets is scheduled to commence in December 2021.
The Hamilton Project is located in NW Queensland approximately 120km south of the Cannington mine and is targeting IOCG and BHT style deposits. Drilling to date has identified mineralised BIF sequences at the Hamilton North and Hamilton South prospects similar to those that host the Osborne copper-gold deposit (global resource ~36Mt @ 2% Cu, 1g/t Au), located approximately 70km to the north. Further drilling is planned for Q4 2021.
The Project is located ~60km south of the Nova–Bollinger nickel-copper deposit and consists of seven Exploration Licences covering an area of ~840 km². Drilling in 2020 and 2021 identified potential for BHT and IOCG style mineralisation similar to that found in north-west Queensland (Mt Isa Belt) as well as nickel-copper deposits similar to the Nova Bollinger deposit. Further target drilling is planned for early 2022.
The Morrisey Project is located ~500km north of Perth WA within the Narryer Terrane, which recently became the focus of industry attention following the discovery of the Julimar nickel-copper-PGE deposit north of Perth by Chalice Mining, which highlighted the untested nickel-copper-PGE potential of the western margin of the Yilgarn Craton. It consists of two granted Exploration Licences (ELs) and three EL applications covering an area of ~1,200km². Recent HEM surveys highlighted three priority targets for testing.
BSC (HONS), MAIG, MGSA
The company is currently exploring within Australia & Peru and holds in excess of 5,000 km² of exploration title (granted tenements and tenement applications).
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