Next Investors logo grey

AusQuest and South32 drilling the Tangadee Zinc Project


Published 31-AUG-2020 12:11 P.M.


2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

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.

zinc soils

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.”

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (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 and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.