AusQuest (ASX:AQD) ready to drill “attractive” targets at Balladonia – The Market Herald
- AusQuest (AQD) is preparing for the next round of drilling at the Balladonia copper-nickel project in the Fraser Range region of Western Australia
- Once all necessary permits have been obtained and site access preparations completed, six diamond drill holes are planned to test targets at the Tea Tree and Harms Lake prospects.
- Drilling is scheduled for the middle of this month and is expected to take three weeks, with completion expected between eight and ten weeks after drilling.
- With encouraging early-stage results from previous drilling, Managing Director Graeme Drew says the targets are attractive and AQD is delighted to begin drilling
- Shares ended the day up 2.94% at 1.8 cents
AusQuest (AQD) is ready to start the next round of drilling on the Balladonia copper-nickel project in the Fraser Range region of Western Australia.
The project is subject to a strategic alliance agreement with a wholly owned subsidiary of ASX-listed South32 (S32), with funding for this program partly provided by the government’s exploration incentive scheme.
With all necessary permits obtained and site access preparations completed, AusQuest has scheduled six diamond drill holes, over 1,400 meters, to test targets at the Tea Tree and Harms Lake prospects.
Previous core drilling has highlighted a mafic and ultramafic intrusion at the Harms Lake target which will be tested with two drill holes.
At the Tea Tree target, four drill holes are planned to test the base metal potential of an inferred banded iron formation sequence containing anomalous base metal zones and a strong EM conductor at its western margin.
The drilling campaign is expected to begin in the middle of this month and is expected to last three weeks, with an expected turnaround time of eight to ten weeks after drilling.
With encouraging results from an early stage of the limited drilling carried out so far, Managing Director Graeme Drew said the targets are attractive and the company is pleased drilling is underway.
“A positive outcome from the Tea Tree and/or Harms Lake prospects would begin to unlock the base metal potential of this region – which we believe could be significant,” he said.
The company’s shares were trading 2.94 percent higher to 1.8 cents.