AusQuest Confirms Deep Copper Extensions at Cangallo with First Diamond Drill-Hole
AusQuest’s inaugural deep diamond drill-hole at its Cangallo project in Peru reveals extensive copper mineralisation down to 880 metres, underpinning the scale of the porphyry system. Assays are pending, with further drilling underway to probe higher-grade zones.
- First diamond hole reaches ~880m depth confirming vertical copper mineralisation
- Copper oxides near surface transition to hypogene sulphides below 550m
- Visual logging shows chalcopyrite, bornite, molybdenite in stockwork veins
- Diamond drilling shifts north to test deeper high-grade copper zones
- Assay results expected within 4 to 6 weeks
Deep Drilling Validates Porphyry System Scale
AusQuest Limited (ASX:AQD) has taken a significant step in defining the vertical reach of its Cangallo Porphyry Copper-Gold Project in Peru, completing its first deep diamond drill-hole (CANDD003) to approximately 880 metres. This hole confirms that copper mineralisation extends far deeper than previous Reverse Circulation (RC) drilling, which had reached only about 350 metres. Visual logging reveals copper oxides from near surface down to roughly 250 metres, transitioning to a hypogene sulphide zone dominated by chalcopyrite and bornite below 550 metres, indicating a large, vertically extensive mineralised system.
Visual Evidence of Multiple Mineralising Events
The drill core exhibits a complex assemblage of quartz-sericite/muscovite-chlorite veining and hydrothermal breccias, typical hallmarks of a robust porphyry system. Notably, chalcopyrite and bornite presence at depth suggests the mineralisation remains open and could intensify beyond current drilling. The identification of molybdenite further hints at multiple intrusive and mineralising episodes. While visual estimates of mineral abundance are encouraging, AusQuest cautions that laboratory assays will provide the definitive measure of economic potential.
Program Shifts North to Target Higher-Grade Zones
Following the southern hole, the diamond drilling rig has moved north to test beneath previously identified high-grade supergene copper zones from earlier RC drilling. The upcoming hole, CANDD004, aims to delineate the controls on hypogene mineralisation at depths exceeding 600 metres, with completion expected within weeks. This phase will be critical in assessing the continuity and scale of deeper copper mineralisation across the project’s northern corridor.
Pending Assays and Next Steps
Assay results from CANDD003 are anticipated in four to six weeks and will be pivotal in quantifying the grades and confirming the economic viability of the mineralised zones observed visually. AusQuest has emphasised the importance of these forthcoming results to refine its understanding of the system’s scale and potential. The company plans to continue diamond drilling over the coming months, integrating new data to guide further exploration targeting.
Robust Data Collection and Reporting Standards
The drilling program adheres to rigorous industry standards consistent with the JORC Code, including systematic core sampling, downhole surveys, and comprehensive logging of geological and structural features. Quality assurance protocols encompass duplicate sampling and certified laboratory assays by ALS del Peru. AusQuest maintains transparency in its reporting, noting that visual mineralisation estimates are preliminary and subject to verification through assay data.
Bottom Line?
AusQuest’s deep drilling at Cangallo underscores a potentially significant porphyry system extending well beyond previous limits, but assay results will be crucial to translate visual promise into economic reality.
Questions in the middle?
- Will assay results confirm the visual indications of substantial copper grades at depth?
- How extensive and continuous is the hypogene mineralisation beyond current drill coverage?
- What implications will the northern drilling results have on the overall resource potential?
