Latest Ausquest (ASX:AQD) News

AusQuest has materially expanded its Cangallo copper-gold discovery in Peru, but the exploration push came with a larger loss, a sharp rise in cash outflows and an auditor warning that further funding is likely within 12 months. The company ended FY2026 with $6.35 million in cash after a $10 million placement.

AusQuest’s latest diamond drilling at the Cangallo project in Peru pushes copper mineralisation down to at least 800 metres and reveals multiple higher-grade zones, reinforcing the scale of this emerging porphyry system.

AusQuest’s maiden RC drilling at Lantana in Peru confirms porphyry-related alteration and anomalous copper, pointing to a concealed mineralised system beneath cover. The results set the stage for targeted geophysical surveys and follow-up drilling.

AusQuest has resumed a significant diamond drilling campaign at its Coober Pedy IOCG project in South Australia, aiming to test high-priority geophysical and geochemical targets within the Olympic Dam province. The program is expected to take four weeks, with assay results due about a month later.

AusQuest has confirmed a continuous 1.5km copper-gold mineralised corridor at its Cangallo project in Peru, with broad intercepts and emerging high-grade zones. Diamond drilling has begun, revealing significant vertical extent and setting the stage for deeper exploration.

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.

AusQuest’s maiden drilling at Playa Kali in Peru has delivered encouraging copper and molybdenum assays, validating the prospectivity of a large iron-oxide copper-gold system and setting the stage for targeted follow-up exploration.

AusQuest has paused its maiden drilling at the Coober Pedy IOCG project after encountering difficult sand cover, with plans to resume in Q3 2026 using a new drilling method and contractor. Assay results from the limited completed holes are due by the end of July.

Small-cap materials stocks swung hard as fresh funding, mine build decisions and standout drill hits drove the week’s biggest moves. Gold, lithium, rare earths and tungsten names all drew buying, while a few raisings and weak follow-through after trading halts kept losses sharp.

AusQuest has reported significant near-surface copper-gold mineralisation from its latest RC drilling at the Cangallo project in Peru, setting the stage for a substantial diamond drilling campaign targeting deeper, higher-grade zones.

Gold explorers and small-cap tech names drove the biggest share price swings this week, while one healthcare stock sank after a deeply discounted funding move. Deals, drill hits and fresh financing dominated trading across the ASX.

Gold stories drove the week, but the biggest jumps came from drill hits and project studies that gave investors a reason to chase smaller names. At the larger end, merger activity and fresh funding kept attention on producers that want to get bigger, faster.