AusQuest and South32 drilling the Tangadee Zinc Project
AusQuest Limited (ASX:AQD) has started initial drill testing at its Tangadee Zinc Project, approximately 150 kilometres south-west of Newman within the Edmund Basin in Western Australia.
This is being conducted under the group’s Strategic Alliance Agreement (SAA) with South32 (ASX: S32).
A minimum of four reverse circulation (RC) drill-holes will be completed for approximately 1400 metres to test for sediment-hosted zinc mineralisation similar to that found in north-west Queensland (the Mt Isa Belt).
Soil sampling completed by the company has outlined a large zinc (>1,000ppm Zn) / thallium (>5ppm Tl) anomaly within the core of a mapped synclinal structure adjacent to inferred regional scale faulting.
Shallow sedimentary dips as indicated below were recorded in the area, suggesting there is potential for shallow zinc mineralisation to occur over an area of several square kilometres within the core of the syncline.
Assays available in four weeks
The initial drill-holes are widely spaced (at least 400 metres apart) as they are designed to test down-dip downdip and/or down-plunge of the large zinc anomaly found at surface.
The drill program is expected to take approximately two weeks to complete, with assays available within four weeks of completing the program.
AusQuest’s managing director Graeme Drew highlighted that the commencement of drilling at Tangadee followed the recent start of its first drilling programme at the Hamilton Copper Project in north-west Queensland.
Discussing Tangadee and the company’s broader exploration program, Drew said, “The RC program at Tangadee will be the first of several programs we hope to complete in Western Australia during the second half of 2020 looking for base metals and gold.
“Heritage surveys to clear access for drilling at our Gunanya Gold-Copper Project in the Paterson Province of WA are currently being completed, and we hope to be able to commence drilling there within the next couple of months, subject to rig availability.”
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
Publishers Notice
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.
