Archived News
In August 2021 Finfeed changed from a website that covered ASX listed news to a website
that covered a select range of ASX
listed small cap Biotech stocks that we are personally
invested in: find out more.
The old Finfeed website, and all of the old articles are kept here for record keeping purposes.
VISIT NEW SITEAusQuest intersects down-dip zinc extensions of zinc soil at Tangadee
2 minute read
AusQuest Limited (ASX:AQD) has just completed an assessment of the final assay data received from the recently completed Reverse Circulation (RC) drilling program (5 holes/1,352 metres) at the Tangadee Zinc Project in Western Australia, under its Strategic Alliance Agreement (SAA) with South32 (ASX: S32).
The assay results clearly indicate that the drilling successfully intersected down-dip extensions of the surface zinc soil anomaly.
Thick sections of the black mudstone were found to contain anomalous levels of zinc (up to 1.3% Zn), copper (up to 0.23% Cu), silver (up to 17gpt Ag) and thallium (up to 17ppm Tl), along with elevated gold values (up to 0.177gpt Au) throughout parts of the sequence.
The following table shows the anomalous base metals that were identified across various intervals.
Exploration program increases understanding of local geology
The anomalous base metal intersections are partly associated with elevated levels of molybdenum, vanadium, sulphur, and phosphorous which are commonly found within black carbonaceous sediments that are favourable host rocks for sediment-hosted zinc mineralisation.
The carbonaceous mudstones intersected at Tangadee are similar to those found in the north of the prospect where historical drilling has reported similar intersections of zinc, silver and copper.
This suggests that the metalliferous sediments in this region could be very extensive, extending over a strike length of at least 20 kilometres.
Establishing targets with increased grades within the carbonaceous sediments is currently being considered under AusQuest’s Strategic Alliance Agreement (SAA) with South32 before a decision is made on the future of this project.
AusQuest’s managing director Graeme Drew emphasised that the wide-spaced drilling at Tangadee had provided further insight into the prospectivity of the region, even though the drilling had not been successful at this stage in identifying targets where higher metal grades were more likely to occur.
On this note, he said “Exploration for sediment-hosted zinc within the Edmund Basin is still in its infancy and remains an elusive target.
“Technical meetings under the SAA to discuss these results are scheduled for December, at which time a decision on the future of this project will be made.”
Latest articles on AusQuest Limited
More Commentary
Los Cerros confirms extensive gold porphyry mineralisation
08-07-2021
GTI completes drilling ahead of establishing uranium resource
06-07-2021
Los Cerros ready to grow another leg, driven by Tesorito results
28-06-2021
GTI Resources starts second round of uranium exploration drilling
25-06-2021S3 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.