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    AQD   AU000000AQD3

AUSQUEST LIMITED

(AQD)
Delayed Australian Stock Exchange  -  11:56 2022-12-08 pm EST
0.0190 AUD   +5.56%
11/18AusQuest Limited - HAMILTON COPPER PROJECT DRILLING UPDATE
AQ
11/18Ausquest Completes Diamond Drilling at Queensland's Hamilton Project
MT
11/17AusQuest Limited Provides Drilling Update from Hamilton Copper Project
CI
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AusQuest Limited Announces Drilling Commencement to Test Priority Targets At Hamilton Copper Project - NW QLD

04/11/2022 | 06:55pm EST

Further to company's announcement on 31 March 2022, AusQuest Limited advised that drilling has now commenced at its Hamilton Copper Project in North West Queensland under the Strategic Alliance Agreement (SAA) with a wholly-owned subsidiary of South32. A total of three diamond drill holes for ~1,850m will test distinct gravity targets closely associated with mineralised banded iron formation (BIF) and iron-calcium alteration (skarns) that were intersected by earlier drilling programs. The drilling program should take approximately 3-4 weeks to complete with samples to be sent on an ongoing basis to the Intertek Genalysis Laboratory in Townsville for analysis. Final assay results should be available 4-6 weeks after the completion of drilling.

Computer modelling of recently acquired gravity data identified gravity targets associated with the magnetic stratigraphy that had not been tested by previous drilling. Specific Gravity (SG) and magnetic susceptibility (MS) measurements on drill-core from earlier programs indicated a strong relationship between anomalous copper values (up to 8,000ppm Cu) and rocks with higher density (heavy rocks with SGs >3.3) and higher magnetic susceptibility (strongly magnetic rocks with MS >0.3 SI units). This highlighted the potential for stronger copper mineralisation to be associated with the newly identified gravity anomalies, further reinforcing their importance as priority drill targets.

The current drill program is designed to test these strong gravity targets at both the Hamilton North (Figures 1 and 2) and Hamilton South prospects. The mineralised BIF at Hamilton appears to be similar in nature to that hosting the Osborne copper-gold deposit (global resource ~36Mt @ 2% Cu and 1g/t Au), located approximately 70km to the north, which also has an associated gravity response. The Project covers a belt of magnetic rocks extending over a strike length of approximately 30km under Eromanga Basin cover, which is approximately 200m thick.

Numerous magnetic targets within this belt have never been tested by drilling.


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All news about AUSQUEST LIMITED
11/18AusQuest Limited - HAMILTON COPPER PROJECT DRILLING UPDATE
AQ
11/18Ausquest Completes Diamond Drilling at Queensland's Hamilton Project
MT
11/17AusQuest Limited Provides Drilling Update from Hamilton Copper Project
CI
10/20AusQuest Limited - INITIAL DRILLING IDENTIFIES POTENTIAL Ni-Cu-PGE HOST ROCKS AT THE MO..
AQ
10/19AusQuest Limited Announces Initial Drilling Identifies Potential Ni-Cu-PGE Host Rocks a..
CI
10/10AusQuest Limited - MAJOR DRILLING PROGRAM COMMENCES AT THE PIRATA COPPER PROJECT, PERU
AQ
10/09AusQuest Starts Drilling at Peruvian Copper Project
MT
10/09AusQuest Limited Announces Major Drilling Program Commences At the Pirata Copper Projec..
CI
10/05Ausquest Extends Copper Mineralization at Parcoy Project in Peru
MT
10/04Ausquest Limited Announces That Assay Results Received from the Recently Completed Prog..
CI
More news
Financials
Sales 2022 0,65 M 0,44 M 0,44 M
Net income 2022 -1,46 M -0,99 M -0,99 M
Net cash 2022 3,79 M 2,58 M 2,58 M
P/E ratio 2022 -11,9x
Yield 2022 -
Capitalization 16,5 M 11,2 M 11,2 M
EV / Sales 2021 12,5x
EV / Sales 2022 20,9x
Nbr of Employees -
Free-Float 57,4%
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Managers and Directors
Graeme Drew MD & Non-Independent Executive Director
Gregory George Hancock Non-Executive Chairman
Christopher J. R. Ellis Non-Independent Non-Executive Director
Henko Vos Secretary
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