AusQuest gears up for maiden drilling at two promising copper-gold prospects in Peru, aiming to build on the momentum from its Cangallo discovery. Over 8,000 metres of Reverse Circulation drilling are set to test high-priority IOCG and porphyry targets starting Q2 2026.
- Drill permits granted for Playa Kali and Lantana projects near Cangallo discovery
- Maiden RC drilling programs of 4,000+ metres each planned for Q2 2026
- Targets include IOCG mantos at Playa Kali and large-scale porphyry at Lantana
- Drilling expected to take eight weeks per program with assays following
- Drilling at Cangallo continues with first assay results due soon
Permits Unlock New Drilling Campaigns Near Cangallo
AusQuest Limited (ASX:AQD) has cleared a significant regulatory hurdle with the receipt of drilling permits for its Playa Kali and Lantana copper-gold projects in Peru. These projects sit within a 15-30km radius of the company's flagship Cangallo Porphyry Copper discovery, which has been the focus of an aggressive drilling push earlier this year. The green light for drilling at Playa Kali and Lantana paves the way for maiden Reverse Circulation (RC) programs totalling over 8,000 metres, scheduled to commence in the second quarter of 2026.
High-Priority Targets with Distinct Geological Settings
Playa Kali presents multiple manto-style iron oxide copper gold (IOCG) targets along the coast, with visual copper mineralisation and anomalous rock-chip assays confirming its prospectivity. Ground magnetic surveys have identified both coastal and inland anomalies, some concealed beneath cover, that mirror mineralisation styles seen at the Mina Justa deposit roughly 100km northwest. Meanwhile, Lantana hosts a large-scale porphyry copper target spanning approximately 2,000 by 800 metres, marked by widespread surface copper values exceeding 1.0% Cu alongside molybdenum and bismuth anomalies. Geological mapping highlights advanced argillic alteration zones and dyke-like features indicative of a robust mineralised system.
Drilling Plans and Operational Timelines
The Playa Kali program will encompass over 4,000 metres of RC drilling targeting the IOCG mantos, while Lantana’s campaign involves around 12 drill holes totalling a similar metreage to test the porphyry system. Access preparations are underway, with drilling expected to span roughly eight weeks per program. Assay results are anticipated about four weeks after each program concludes, providing early insights into the mineralisation potential. These campaigns complement ongoing drilling at Cangallo, where AusQuest has been advancing a large-scale copper-gold porphyry system with first assay results from recent RC drilling due imminently. The company’s recent efforts at Cangallo have expanded mineralisation to over 1,500 metres strike length, underscoring the region’s prospectivity and the strategic value of these adjacent projects.
AusQuest’s Managing Director Graeme Drew emphasised the significance of the newly permitted drilling programs: “We are delighted to have received drill permits for our Playa Kali and Lantana Copper Projects, which we consider to be high priority targets for copper and gold mineralisation. The maiden drilling programs at both prospects could add significantly to the copper and gold inventory of the region, adding to what has already been found at the nearby Cangallo Project.”
The company’s approach of advancing multiple projects in parallel reflects a broader strategy to delineate a substantial copper-gold corridor in southern Peru. The upcoming drill results from Playa Kali and Lantana will be closely watched for indications of new discoveries that could materially enhance AusQuest’s resource base and regional footprint.
Bottom Line?
AusQuest’s upcoming drilling at Playa Kali and Lantana could redefine its Peruvian portfolio, but assay results will be critical to validating these high-priority targets.
Questions in the middle?
- Will the maiden drilling at Playa Kali confirm the presence of economic IOCG mineralisation?
- Can Lantana’s porphyry target deliver high-grade copper intersections comparable to nearby discoveries?
- How will assay results from these projects influence AusQuest’s exploration strategy and market valuation?