AusQuest (ASX:AQD) announced that they have completed their diamond and reverse circulation (RC) drilling programs at the wholly owned Cangallo Porphyry Copper-Gold discovery in Peru, having expanded the scale of the porphyry copper-gold system present.
The initial six RC drill holes show copper oxides and sulphides present in all of the drill holes at varying degrees, extending the mineralisation strike length to at least 500 metres south of the stage one and two drilling. This has grown the size of the overall porphyry system to over 1 kilometre from north to south.
The initial diamond drilling has been completed for two holes to a depth of 1,630m, testing the depth extent of the copper sulphide mineralisation below the current level of RC drilling.
Managing Director Graeme Drew is encouraged by these results, noting the RC drilling is “clearly extending the mineralisation a long way to the south” as per the company’s expectations.
“Assay results for the two deep diamond drill-holes are also encouraging but in different ways. Results from CANDD001 have confirmed that the porphyry system extends to depths greater than 800m, making it potentially a very large porphyry system, while CANDD001 has extended the higher grade copper intersections from the earlier RC programs to depths up to 660 metres.”
Initial assay results from the RC drilling are expected later in January 2026 and will guide the next diamond drilling program at Cangallo.
AusQuest is targeting new deposits with potential in both Peru and Australia.
Write to Amy Rotman at Mining.com.au
Images: AusQuest
