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AusQuest Ltd.
Summary
| Project: | Cerro De Fierro | |
|---|---|---|
| Deposit: | Cerro De Fierro | |
| Location: | Peru | |
| Commodities: | Copper-Gold | |
| Date: | 11/29/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 29-11-2018: AusQuest Ltd. announces an Exploration/Drilling Update report for its Cerro De Fierro deposit at the Cerro De Fierro project. Drilling results incl. 43.0m @ 0.43% Cu, 0.35g/t Au from 250m. AusQuest Limited (ASX: AQD) is pleased to advise that | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Graeme Drew (Internal) | |
| ABSTRACT: | AusQuest Limited (ASX: AQD) is pleased to advise that assays received from the first three of seven diamond drill holes completed at the Cerro de Fierro Iron-Oxide Copper-Gold (IOCG) Project in southern Peru have reported wide intervals of highly anomalous copper and gold mineralisation. The broad zones of mineralisation are associated with iron and potassic alteration originally identified by the Company’s airborne survey, and confirm observations reported to the ASX on the 15 th November 2018. The initial drill-holes are widely spaced with holes CDF02 and CDF03 located ~800m apart. Significant assay results from both drill-holes are provided in the table below. The results from CDF03 are of particular interest, with a number of relatively thick (>30m) intersections reporting copper grades greater than 0.4% Cu and associated gold values ranging from 0.13g/t Au to 0.35g/t Au. These intersections occur within a broader envelope (288m down-hole) of highly anomalous copper values, indicating the potential size of the system. Drilling is continuing with the original planned program scheduled to be completed in early December. Assays for all remaining drill-holes should be available by early January 2019. Drilling at Cerro de Fierro has intersected a variable sequence of andesitic volcanics, volcanoclastics and intercalated sediments with strong iron and potassic alteration suggestive of a large IOCG system. High temperature minerals (garnet) associated with the alteration may imply the presence of skarn-style mineralisation. | |
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