NICKEL – COPPER

(100% AQD – Subject to Strategic Alliance Agreement with South32)

Balladonia, Western Australia.

The Balladonia Project is located ~60km south of the Nova–Bollinger nickel-copper deposit and consists of seven Exploration Licences covering an area of ~840 km².

The project occurs within a structurally complex region of the Fraser Range Terrain and is centred above a deep regional gravity anomaly (~30 milligals) thought to reflect buried mafic-ultramafic rocks similar to those that host the Nova-Bollinger deposit.

Recent work has identified similarities between Balladonia and the Eastern Succession of north-west Queensland, where iron-oxide copper-gold (IOCG) and Broken Hill Type (BHT) deposits are known to occur. Interpretation of magnetic data has identified many discrete magnetic targets that had not been previously explored and a program of shallow air-core drilling was completed over selected targets in 2021.

Results from this program highlighted the Harms Lake and Tea Tree prospects where geochemical data identified potential for both nickel-copper sulphide targets (at Harms Lake) and BHT and/or IOCG mineralisation (at Tea Tree) associated with iron formations similar to those found in the Eastern Succession of north-west Queensland where a number of BHT and IOCG deposits have been discovered.

At the Harms Lake prospect, an electromagnetic survey (MLTEM) is expected to be completed in late 2021 to identify drill targets associated with the anomalous nickel and copper values found by the air-core program.

At the Tea Tree prospect, diamond drilling is planned in early 2022 to test the potentially mineralised iron formations, following a successful application for funding assistance (half the direct drilling costs – ~$120,000) under the Government’s Exploration Incentive Scheme, designed to encourage early-stage drilling of quality targets that can upgrade the exploration potential of a region.

Exploration work at Balladonia is funded under the SAA with South32.

 

Revised 09/11/2021.

ABOUT US.

The company is currently exploring within Australia & Peru and holds in excess of 5,000 km² of exploration title (granted tenements and tenement applications).

CONTACT US.

Company office & mailing address:
8 Kearns Crescent, Ardross WA 6153
Email: InvestorRelations@ausquest.com.au
Phone: 08 9364 3866
Fax: 08 9364 4892

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