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Highlights
- AusQuest continues copper exploration in Peru
- New drilling stage planned to test deeper targets
- Cangallo project shows extended copper and gold mineralisation
AusQuest (ASX:AQD) is pushing forward with its exploration momentum at the Cangallo copper project in Peru, following encouraging results from recent reverse circulation (RC) drilling. The company has expanded the mineralised zones both laterally and at depth, underscoring the growing scale of the discovery. While not a part of the ASX 200 companies, AusQuest’s ongoing work highlights how smaller explorers continue to contribute to the global copper and gold supply chain alongside larger peers on the index.
Strong Results from Stage Two Drilling
Recent RC drilling at Cangallo delivered consistent copper and gold mineralisation across multiple holes. A significant portion of the drill holes intersected mineralised zones, and several concluded within mineralisation, suggesting the system remains open at depth. This outcome reinforces the potential of the project and points to a porphyry system with considerable size and scope.
The drilling also highlighted the presence of tonalite dykes with higher copper values, which is often seen as an indicator that a larger porphyry system could host stronger mineralisation at depth. These findings give AusQuest additional data to refine its geological interpretations and exploration strategy.
Preparing for Stage Three Drilling
With the second stage of drilling completed, AusQuest is preparing to advance into Stage Three. Permitting for the next round of RC drilling is in progress, with fieldwork anticipated to commence once approvals are secured. This phase is expected to test deeper targets within the southern extension of the porphyry system, where the company believes further copper mineralisation could occur.
In parallel, AusQuest is analysing multi-element geochemical data from Stage Two drilling. This information will help optimise upcoming drill locations and guide future diamond drilling. The combination of RC and diamond drilling aims to provide a more detailed picture of the deposit’s geometry and mineralisation controls.
Broader Implications for Copper Exploration
The ongoing progress at Cangallo demonstrates the significance of copper discoveries in regions such as Peru, which is known for hosting world-class deposits. Projects like Cangallo can play an important role in meeting the global demand for copper, a metal critical to infrastructure and renewable energy industries.
As AusQuest continues its exploration journey, the company’s work adds to the broader narrative of how emerging explorers support future copper supply, complementing the efforts of established ASX-listed resource players.
